Forbes rates Eisner as the worst CEO of 2002!

[crazy4wdw]

Forbes on Eisner

Forbes Magazine has rated Eisner as one of the worst CEO's of 2002. Click on link above to see article.

 

[wtg2000]

According to board members, Eisner was rewarded this year for pulling the company through tough times! They must have the Iraqi Info Minister working for them. I think Eisner has been there so long he's set up his own little dictatorship and nothing seemingly can touch him. I don't think there are any major Disney shareholders with enough stock to put pressure to get rid of him. Disney stock seems to be spread out over the masses. So I think he's here until he decides it's time to leave.

 

[BRERALEX]

It's a joke he's till in power and hasn't stepped down. isnt he like embarressed at this point. its pathetic.

Michael Eisner, who averaged $122 million in pay since 1997 while delivering a lame -5% annual return to shareholders.

im not a sharholder but feel for those who are and are losing presently cause of this guy.

 

[KNWVIKING]

Since he is one of if not thee largest stockholder in the company, he ought to fire himself just to make money.

 

[MelissathePooh]

I'm sure he's embarrassed - all the way to the bank. Why would he leave - if he's not being forced out, why would he do it voluntarily? If he's as bad and selfish and lacking the desire to do what's right for the company - he'd be stupid to leave while he's still making so much money.

Don't take that as a personal defense of him, just a logical statement.

 

[Cricket2]

I say they just give him ABC instead of severence and call it a wash

 

[KNWVIKING]

I was joking

In reality, about 6-8 months ago he purchased around 700000 additional shares. To date, those shares have earned him about 3.5 mil.

Personally, I don't think his ego will let him quit until it at least appears that what he's recently done can be viewed as a turning point in the company. He won't let the next CEO come in and be the company savior.

 

[Bstanley]

Hmm...so that's The Big ME's plan...drive the stock price so low that he can buy it up using the bonuses he's getting...until he has a controlling interest...

MelissathePooh - you are dead on - the people who should be REALLY embarassed are the Board and the stockholders that haven't chosen new leadership as it has become clear it was time for a change.


PS - it's rather disingenuous of Forbes to give Steve Bezos such a pat on the back about his low 'compensation' while ignoring the almost $3 Billion in stock he's been granted. I guess next year they'll have to ding him though since he starting selling $10 million a month worth this year (which will place him in the The Big ME's range this year).

 

[Walt's Frozen Head]

Personally, I think Forbes overrates Eisner somewhat...

-WFH

 

[Mouse Ears]

The difference, I believe, is that Bezos has a large ownership share from taking the company public. It has not been in the form of stock options or compensation. Eisner has been granted shares as part of his compensation, making him a bigger drain on the stock price in addition to his bad business decisions.

 

[wdw4us2]

Forbes rates Ei$ner worst CEO of 2002

. . . and this comes as a surprise to whom on the Rumors & News board?

 

[Jeff in BigD]

I'm shocked!

 

[Luv2Roam]

the people who should be REALLY embarassed are the Board and the stockholders that haven't chosen new leadership as it has become clear it was time for a change.

Agree. And they are the ones the are suffering too by the (de)value of their stock. I would have thought that would have woke them up. But as others posted, Ei$ner made sure he owned the majority of it.
Anyone who has consistently voted with Ei$ner and the board hopefully are not complaining. It would be the same as those who complain when someone takes advantage of them. No one let's anyone do that but themselves.
A monster was created long ago by caving in to every whim.

 

[katerkat]

Does anyone know what percentage of stock Eisner owns now? I've been reading "Prince of the Magic Kingdom" and as I recall, as Eisner was brought on board, the Bass company was the largest stockholder (after buying Irwin Jacobs' stock). Has Eisner surpassed them?

 

[Luv2Roam]

I think Bass sold out some time ago.
Warren Buffet sold his Disney stock probably about three years ago.

 

[wtg2000]

I don't know the percentage but I think it is very small. Maybe around the same as Roy Disney. Neither is anywhere near having a controlling interest. What Eisner does seem to have control of is the Board.

 

[Another Voice]

Michael Eisner is now the third largest shareholder of The Walt Disney Company. And until about six months ago he hadn't bought a single share - it had all been given to him as part of his compensation package. Even then his purchase was less than $10 million dollars (more than half covered by the bonus the Board gave him just this year alone).

Eisner also controls the majority of the board members. Many are former Disney executives that Eisner had hired originally, many are close associates of his. Until very recently the most notorious member was the principal of his children's private elementary school. She was ousted to help calm things when Eisner booted off his most vocal critic on the board. He still, however, retains a very strong grip.

Eisner is an extremely shrewd and capable political operative. There is zero chance the Board of Directors could ever force him to leave (even if a majority on the Board wanted him to go).

 

[doubletrouble_vb]

I guess I'm one of the few that is actually in the plus side on this stock.

 

[King Triton]

Eisner must go! He made too many bad decisions, thus why the stock is down so low. He destroyed Epcot by taking out favorite rides. California Adventure is a joke.