CNBC is reporting Stanley Gold has just resigned
- Thread starter hopemax
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Horace Horsecollar
DIS Veteran
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mickey1010
Mouseketeer
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- May 30, 2001
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hopemax -
I was just about to pull out that same line in Mr. Gold's letter. This is definitely just the beginning.
It's good to see that this is not a case of throwing in the towel but a ringing of the opening round bell.
I was just about to pull out that same line in Mr. Gold's letter. This is definitely just the beginning.
It's good to see that this is not a case of throwing in the towel but a ringing of the opening round bell.
mickey1010
Mouseketeer
- Joined
- May 30, 2001
- Messages
- 115
Let's see...how many of us post here?? I'm sure we could pool enough funds for it!
I would love to see how a "DIS Rumors and News" board of directors would fare. That would be entertainment...maybe we could make a reality TV show out of it?
I would love to see how a "DIS Rumors and News" board of directors would fare. That would be entertainment...maybe we could make a reality TV show out of it?
We're going to be entering the spin zone real fast here.
I applaud both board members for publicly taking this on. Roy being a Disney is a great asset to the cause.
Eisner having Mitchell is a big problem for the cause.
I wonder if George will be positioned in front of the cameras as well. The media will be fawning all over him.
I applaud both board members for publicly taking this on. Roy being a Disney is a great asset to the cause.
Eisner having Mitchell is a big problem for the cause.
I wonder if George will be positioned in front of the cameras as well. The media will be fawning all over him.
Goofyposter
Director of Farmland Defense
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- Oct 18, 2001
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Amen.
phisigprincess
<font color=red>Finally a vet!<br><font color=gree
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- Nov 3, 2003
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- 5,281
I keep saying this (I think the community board is sick of me pondering this) but WHY HASN'T ME'S PR TEAM RESPONDED TO ANY OF THIS?!!?! I'm a comm major and the FIRST thing we learn is that in a crisis situation (when public opinion is involved) the first thing you do is make a statement. "No comment" is the WORST thing to tell the public. It makes people distrust you and won't help your public image. This was Comm 101 or something!! What is ME's PR team doing?!!?! 4 years of school has taught me better than that and you would think the Disney team would have known better than that as well. I would LOVE to be a fly on their wall right now.
Buzz2001
CSR MAN!!
- Joined
- May 14, 2000
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- 15,782
Roy Disney 'not going quietly'
Battle for control of the media and entertainment conglomerate continues after Disney, Gold resign.
December 2, 2003: 7:26 AM EST
LOS ANGELES (Reuters) - A simmering feud for control of Walt Disney Co. boiled to the surface as two prominent directors, including Roy Disney, quit the board to fight for the ouster of Chairman Michael Eisner, a move other directors called a "destructive course."
Roy Disney, the 73-year-old nephew of cartoon pioneer Walt Disney, resigned from the board Sunday, and his long-time ally Stanley Gold followed suit on Monday.
They vowed to work with shareholders to pressure the board into removing Eisner for poor performance during the past seven or so years but cautioned they would first hold extensive talks with shareholders they had been barred from contacting while on the board.
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"I don't think things change overnight," Gold told Reuters in a telephone interview. "There is going to be a lot of education" and talks with shareholders.
He said it was too early to say whether he and Roy Disney would nominate members to the board, or to name a potential new chief executive, although he said he wanted an entertainment industry executive to replace Eisner, perhaps from within Disney.
The move by Roy Disney, the last Disney family member to serve as a director, was reminiscent of his decision nearly 20 years ago to resign and then launch a management shake-up in which he and Gold recruited Eisner.
Roy Disney's spokesman said Monday he would not go away easily this time, either. "He is not going quietly into the night at all," said the spokesman, Clifford Miller. "He feels that this has freed his voice."
The relationship between Eisner and Roy Disney has foundered in recent years as the Burbank, Calif.-based owner of a movie studio, theme parks and the ABC television network has struggled to maintain earnings amid the weak economy.
Roy Disney, facing an ouster from the board due to his age, resigned Sunday and in a three-page letter to Eisner called on the chief executive to do the same. He cited, among other items: "Your consistent micro-management of everyone around you with the resulting loss of morale throughout this company."
Echoing many of the points, Gold said that under Eisner the board intended to "squelch dissent" by forcing Roy Disney into retirement and that new policies muzzled board members.
"Perhaps acting independently, from outside the boardroom... I can have greater success in shaping the policies, practices and operations of Disney than I had as a member of the board," Gold said.
In a joint statement issued after Gold resigned, the company's nine remaining independent directors on the 11-member board rejected his charges.
"Because the Board, after careful consideration, has refused to accept their principal recommendation to replace management, Mr. Gold and Mr. Disney have chosen their current destructive course of action," the statement said.
"It is a disservice to shareholders and to employees that the company faces this distraction at a time when its performance is improving," it added.
Gold responded in a statement that, "it has been extremely difficult to have debate on a board which considers disagreement with management "destructive."
Indeed, financial analysts said the rebellion comes at a time when Disney appears to be turning the corner financially.
While Roy Disney controls about 17 million Disney shares, less than 1 percent of the outstanding stock, his status as son and nephew of co-founders Roy Disney and Walt Disney, respectively, commands a certain respect.
Still some investors were doubtful whether Disney's and Gold's resignations would win them widespread support.
"Disney is turning this year," said Bernstein Research analyst Tom Wolzein. "There are significant improvements in earnings in fiscal 2004... The issue for investors is: Can they continue to keep the ship turning toward the right course?"
Some analysts cautioned that Disney's outlook was murky.
"I'm quite worried about the potential for growth of the assets, many of which are quite mature," said Pascal Volle of Mercer Management Consulting.
Battle for control of the media and entertainment conglomerate continues after Disney, Gold resign.
December 2, 2003: 7:26 AM EST
LOS ANGELES (Reuters) - A simmering feud for control of Walt Disney Co. boiled to the surface as two prominent directors, including Roy Disney, quit the board to fight for the ouster of Chairman Michael Eisner, a move other directors called a "destructive course."
Roy Disney, the 73-year-old nephew of cartoon pioneer Walt Disney, resigned from the board Sunday, and his long-time ally Stanley Gold followed suit on Monday.
They vowed to work with shareholders to pressure the board into removing Eisner for poor performance during the past seven or so years but cautioned they would first hold extensive talks with shareholders they had been barred from contacting while on the board.
YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.
Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?
"I don't think things change overnight," Gold told Reuters in a telephone interview. "There is going to be a lot of education" and talks with shareholders.
He said it was too early to say whether he and Roy Disney would nominate members to the board, or to name a potential new chief executive, although he said he wanted an entertainment industry executive to replace Eisner, perhaps from within Disney.
The move by Roy Disney, the last Disney family member to serve as a director, was reminiscent of his decision nearly 20 years ago to resign and then launch a management shake-up in which he and Gold recruited Eisner.
Roy Disney's spokesman said Monday he would not go away easily this time, either. "He is not going quietly into the night at all," said the spokesman, Clifford Miller. "He feels that this has freed his voice."
The relationship between Eisner and Roy Disney has foundered in recent years as the Burbank, Calif.-based owner of a movie studio, theme parks and the ABC television network has struggled to maintain earnings amid the weak economy.
Roy Disney, facing an ouster from the board due to his age, resigned Sunday and in a three-page letter to Eisner called on the chief executive to do the same. He cited, among other items: "Your consistent micro-management of everyone around you with the resulting loss of morale throughout this company."
Echoing many of the points, Gold said that under Eisner the board intended to "squelch dissent" by forcing Roy Disney into retirement and that new policies muzzled board members.
"Perhaps acting independently, from outside the boardroom... I can have greater success in shaping the policies, practices and operations of Disney than I had as a member of the board," Gold said.
In a joint statement issued after Gold resigned, the company's nine remaining independent directors on the 11-member board rejected his charges.
"Because the Board, after careful consideration, has refused to accept their principal recommendation to replace management, Mr. Gold and Mr. Disney have chosen their current destructive course of action," the statement said.
"It is a disservice to shareholders and to employees that the company faces this distraction at a time when its performance is improving," it added.
Gold responded in a statement that, "it has been extremely difficult to have debate on a board which considers disagreement with management "destructive."
Indeed, financial analysts said the rebellion comes at a time when Disney appears to be turning the corner financially.
While Roy Disney controls about 17 million Disney shares, less than 1 percent of the outstanding stock, his status as son and nephew of co-founders Roy Disney and Walt Disney, respectively, commands a certain respect.
Still some investors were doubtful whether Disney's and Gold's resignations would win them widespread support.
"Disney is turning this year," said Bernstein Research analyst Tom Wolzein. "There are significant improvements in earnings in fiscal 2004... The issue for investors is: Can they continue to keep the ship turning toward the right course?"
Some analysts cautioned that Disney's outlook was murky.
"I'm quite worried about the potential for growth of the assets, many of which are quite mature," said Pascal Volle of Mercer Management Consulting.
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