Disney board gets 2 more independent directors

[crazy4wdw]

Walt Disney Co. named two new directors and said Chairman George Mitchell will remain on the board through 2006, delaying his retirement. Disney said Friday that its board added John Pepper, former chairman and chief executive of Procter & Gamble Co., and Orin Smith, former president and chief operating officer of Starbucks Corp. The company also increased its annual dividend 13 percent to 27 cents a share. The addition of Smith and Pepper make 11 of the company's 13 directors independent, Disney said. The company in 2003 began adding independent directors in response to attacks by dissident shareholders who claimed former Disney Chief Executive Officer Michael Eisner stacked the board with insiders.

 

[Peter Pirate]

Independent you say? I heard that Pepper's son was Eisners son's roomate in college and Smith was Eisner's personal chaeuffer before striking it rich with Starbucks.

 

[GrimGhost]

Pete, Where did you hear that?? (I honestly don't doubt it--I was just curious)

 

[Peter Pirate]

Grim...I just like to toss things out there that might make my old friends Voice or Yoho shake their heads a little. (i.e it was not completely factual, thus the smiley teeth) But it could be true.

 

[Another Voice]

Yea, Mr. Pirate hasn't spent enough time around Disney's management to understand that no matter how outrageous or outlandish something sounds – that Eisner has done something far, far, far more bizarre in reality.

 

[mitros]

........and Mitchell stays on through 2006. Why didn't he ride Ei$ners coat tails out the door? So maybe Iger isn't Ei$ners henchman after all. Maybe it was Mitchell? What, is he staying on to keep an eye on Roy for uncle Mikey?

 

[Disneycrazymom]

Maybe the Starbucks guy will bring some decent coffee with him! I do not like the nescafe stuff!