Roy Disney Resigned???????

[goofyguy1958]

I heard a story on the radio today that stated Roy Disney resigned today and called for the resignation of Michael Eisner as well. Anyone have any more details. This story was on KWY 1060 which is an all news station out of Philadelphia, PA.

 

[jrabbit]

Click this link then choose which article(s) you want to read.
MiceAge

 

[alexandrew]

I read that he reached the mandatory retirement age of 72 for board members....

 

[jrabbit]

In Roy's case, the manditory retirement age limit does not apply because he is a "management director". Non Management directors have the manditory retirement.

The following is an excerpt from Stanley Gold's resignation letter to the Disney Co.

Governance Committee's determination that Roy Disney should no longer serve on the Board, ostensibly because Roy had surpassed the expected retirement age established by the Board's Corporate Governance Guidelines. In fact, these very rules regarding age, by their terms, only apply to non-management directors, not to Roy, who, as the Committee knows, has been deemed a management director