Dznefreek
It's Epic, well kind of . . . . . .
- Joined
- Nov 13, 2000
- Messages
- 6,432
Someone thinks Mickey Mouse needs a tutor.
Walt Disney has landed on a list of companies to receive failing grades by The Corporate Library.
The watchdog group reviewed 1,700 corporations to determine the effectiveness of their boards -- on the belief that weak governance contributes to the Enron-style meltdowns of the past 18 months.
The Corporate Library acknowledged that Disney had recently improved its board and meets its legal requirements. But it lamented that, under Chief Executive Michael Eisner, the "Eisner way is still the only way things can be done at this company."
What really torques the group is the structure of Eisner's compensation. Disney, for example, allows its board to protect his bonus from a host of things, such as the effect of an investment or acquisition on earnings. Eisner earned $6 million last year but has taken home more than $600 million during the past five.
A spokesman said Disney found its grade "incomprehensible."
Walt Disney has landed on a list of companies to receive failing grades by The Corporate Library.
The watchdog group reviewed 1,700 corporations to determine the effectiveness of their boards -- on the belief that weak governance contributes to the Enron-style meltdowns of the past 18 months.
The Corporate Library acknowledged that Disney had recently improved its board and meets its legal requirements. But it lamented that, under Chief Executive Michael Eisner, the "Eisner way is still the only way things can be done at this company."
What really torques the group is the structure of Eisner's compensation. Disney, for example, allows its board to protect his bonus from a host of things, such as the effect of an investment or acquisition on earnings. Eisner earned $6 million last year but has taken home more than $600 million during the past five.
A spokesman said Disney found its grade "incomprehensible."
