Roy Disney/Stan Gold response to Eisner announced step down

[DancingBear]

Sounds to me like "call retreat and declare victory."

 

[DisneyKidds]

Originally posted by DancingBear
Sounds to me like "call retreat and declare victory."

.......or "We've established our beachhead and reached our objective at this point, so a cease fire is in order.......but we're on guard".

Yes, in a way it's a declaration of victory, and I don't see it as a retreat in any way. Roy and Stan have moved the front forward and gained ground in the fight. As I speculated last week, they may have accomplished what they wanted to at this juncture. That being the apparent replacement of Eisner, by a successor to be picked after an independant search that considers internal and external candidates, long before the Sept 2006 date desired by Eisner. They are standing pat on that, not retreating. Why shouldn't they stand pat on that?

I see this as a positive development, and I'm glad it gives Searcher and others something that they are looking for. I also like the fact that they named some names when it comes to possible additions to the board. That gives some indication of their thinking and the kind of people they'd like to see on the board........the kind of people who might be on that alternate slate should the board not follow through on what they said they'd do.

It's kind of funny that some people say Roy and Stan should back off for the good of the company........and when they do (because they've seen the board take steps they view as positive for the company) others categorize it as a retreat.

What's in the best long term interest of the company? I think that is an exhaustive indepedant search for the most qualified replacement for Eisner..........to be completed as soon as possible. If we take the board at face value that is exactly what is going to happen. I don't think we'd be at this point were it not for the pressure applied by Roy and Stan. I also think they will make sure the board sticks to their word, but they also realize that there is no value in further attack as long as they do.

Still a lot that could happen, but why would Roy and Stan not be happy at this point?

 

[DancingBear]

...The duo said they'll take Mitchell "at his word" that Eisner will step down as both CEO and a member of the Disney board as soon as his replacement is found.

Did Mitchell really say that? I thought the Board was saying it is shooting to identify the successor by 6/05, but no indication that Eisner would step down any earlier than '06.

 

[DisneyKidds]

I believe he had said that they intend to have Michael around to aid in the transition. This would imply to me that the new guy (or gal) would take over before Eisner's Sept 2006 end date, but Eisner would still be around.

That would seem to make sense. A new CEO announced in June 2005 isn't going to sit on their hands for more than a year. So I'd expect him or her to take the reins. Likewise, Eisner is under contract and to be paid until the end of his contract, so I'd expect him to stick around in some capacity.

 

[KNWVIKING]

..... but didn't ME already say he's not going to serve on the board ?

"Veteran CEO plans to make a clean break when he steps down in 2006 -- Fortune interview.
September 20, 2004: 2:19 PM EDT



NEW YORK (CNN/Money) - Michael Eisner expects to make a clean break with Disney when he leaves his CEO post in two years -- neither staying on the board nor taking on the post of chairman, the veteran CEO says in a magazine interview.

Eisner, who has headed Disney (DIS: down $0.36 to $23.06, Research, Estimates) for two decades, said he won't ask to remain on the company's board of directors, according to an upcoming interview to be published in Fortune magazine.

"My assumption is that I would not continue on the board or as chairman. I have a full business life ahead of me," Eisner is quoted as saying, according to excerpts of the interview provided by Fortune."

 

[crusader]

It's kind of funny that some people say Roy and Stan should back off for the good of the company........and when they do (because they've seen the board take steps they view as positive for the company) others categorize it as a retreat.

No more funny than any other topic we discuss. Retreat isn't that bad of a term. Some may view this as a backing down. I view it as a draw.

I am really happy to see this. It was a real class act. Let's hope we can now focus on moving the company forward.