So what happens if they just do nothing?

[WDWHound]

Everyone expects the board to do something about Eisner now (though nobody knows what yet), but what if they just decide to pretend today's vote never happened? Eisner's contract goes for 2 more years and I don't see much that could be done about it if he and the board dig in their heels. Hopefully it wont happen, but is there anything to keep the board from just continuing on the way things are?

 

[Luv2Roam]

Just guessing that today's outcome will bring change in SEC rules. This just strengthens the debate in change, IMHO.
Next shareholders meeting they all would most likely be ousted, no question about it. Unless they really pull a miracle out.

 

[hopemax]

The state pension funds get pissed that they were ignored and sell their shares in favor of a company who will listen to a 43% no confidence vote. The flood of Disney shares sends the stock price plummeting. Comcast or another media company takes advantage of the low price and acquires the company.

 

[JimC]

The Board can terminate ME's contract, but there is a buy-out price (I don't know what it is, but I suspect it is large).

Stan and Roy will continue to press their case and I suspect the institutional shareholders will as well. If individuals push by writing the Board it keeps the pressure on.

It nothing happens then next year's meeting will be quite a show.

 

[Luv2Roam]

There has been talk that former U.S. senator and Disney board member George Mitchell could be named chairman. But nearly 24 percent of voting shareholders opposed Mitchell's re-election Wednesday. One analyst said Disney will need to name an independent outsider to replace Eisner as chairman.

http://money.cnn.com/2004/03/03/news/companies/disney/index.htm