Dissident Holders Patch Up with Disney

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The Walt Disney Co. said late Friday that it patched things up with former directors Roy Disney and Stanley Gold, who had pushed for the ouster of former Disney CEO Michael Eisner and sued the company in May in a bid to force the election of new board directors.

“Messrs. Disney and Gold have agreed not to run a rival slate of directors or submit shareholder resolutions for the next five years,” Disney said in a prepared statement, adding that Roy Disney and Gold also agreed to dismiss all of their pending lawsuits against the company.

The company also named Roy Disney director emeritus and a consultant and said Roy Disney and Gold had “expressed confidence” in the leadership of new CEO Bob Iger.

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