Disney Board Fires Back at Roy Disney

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The Walt Disney Co. board of directors sent a letter to shareholders Monday firing back at criticism from former directors Roy Disney and Stanley Gold, Reuters reported.

Roy Disney and Gold have launched an aggressive campaign to urge shareholders to vote against the re-election of chairman Michael Eisner and three other board members. The company’s annual meeting will be held March 3.

The Disney board’s letter defended the company’s performance, citing its success at the box office and its theme parks, as well as the company’s projection of earnings-per-share growth of at least 30% during the current fiscal year.

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