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LOS ANGELES (Reuters) - Leaders of the dissident shareholders' campaign to unseat Walt Disney Co. Chief Executive Michael Eisner said on Thursday they were aiming for a fifth of voting shareholders to support them at next month's annual meeting.
"Anything over 20 percent is a serious, serious message of dissatisfaction by shareholders to management," Gold told Reuters, saying he would be gratified if 15 percent to 20 percent of shareholders withheld their votes for Eisner.
Charles Elson, director of the Center for Corporate Governance at the University of Delaware, said that "anything over 20 would be a big number" and send a strong message.
A Securities and Exchange Commission proposal under consideration would allow major shareholders to submit alternative board candidates if 35 percent of votes were withheld for company-backed candidates in the previous year.
Institutional Shareholder Services, an independent firm that advises Wall Street on proxy votes, has recommended voting against Eisner but in favor of three other directors that Gold and Disney have targeted.
Gold said he thought the adviser could sway 7 percent to 8 percent of shareholders. Some analysts, however, have said ISS typically packs more influence in proxy battles.
Gold and Roy Disney said they had not talked to Comcast.
But several investors are still considering which way to vote. Patrick McKeigue of Independence Investment, a fund management group with 3.8 million Disney shares as of the end of December, said he had met with Roy Disney's group and the company was still pondering whether to support Eisner's board candidacy.
Mark Anson, chief investment officer of the California Public Employees Retirement System, said his fund was also studying the issue.
Mario Gabelli, chief of Gabelli Asset Management, said his firm was also debating, but his personal preference was to support management. Gold and Disney were "background noise," he said, although he added that view could change.
"Between now and the final election, we could have what is going on in the Democratic party -- the dark horse becomes the front-runner," he said.
LOS ANGELES (Reuters) - Leaders of the dissident shareholders' campaign to unseat Walt Disney Co. Chief Executive Michael Eisner said on Thursday they were aiming for a fifth of voting shareholders to support them at next month's annual meeting.
"Anything over 20 percent is a serious, serious message of dissatisfaction by shareholders to management," Gold told Reuters, saying he would be gratified if 15 percent to 20 percent of shareholders withheld their votes for Eisner.
Charles Elson, director of the Center for Corporate Governance at the University of Delaware, said that "anything over 20 would be a big number" and send a strong message.
A Securities and Exchange Commission proposal under consideration would allow major shareholders to submit alternative board candidates if 35 percent of votes were withheld for company-backed candidates in the previous year.
Institutional Shareholder Services, an independent firm that advises Wall Street on proxy votes, has recommended voting against Eisner but in favor of three other directors that Gold and Disney have targeted.
Gold said he thought the adviser could sway 7 percent to 8 percent of shareholders. Some analysts, however, have said ISS typically packs more influence in proxy battles.
Gold and Roy Disney said they had not talked to Comcast.
But several investors are still considering which way to vote. Patrick McKeigue of Independence Investment, a fund management group with 3.8 million Disney shares as of the end of December, said he had met with Roy Disney's group and the company was still pondering whether to support Eisner's board candidacy.
Mark Anson, chief investment officer of the California Public Employees Retirement System, said his fund was also studying the issue.
Mario Gabelli, chief of Gabelli Asset Management, said his firm was also debating, but his personal preference was to support management. Gold and Disney were "background noise," he said, although he added that view could change.
"Between now and the final election, we could have what is going on in the Democratic party -- the dark horse becomes the front-runner," he said.
