Will Iger welcome back Roy Disney?

[Plus4206]

Thank you Mr Webster ;-)

 

[Lord Fantasius]

Are terms like "accountability," "transparency" and "independence" merely trendy buzzwords in corporate America, or do they actually stand for something?

These days, it seems to depend on the company. At blue-chip corporations with boards of directors that understand the meaning of good corporate governance, these words are real and translate into action. Take Boeing Co., for example, whose board earlier this month fired an otherwise celebrated CEO because it would not tolerate even the appearance of unethical or inappropriate behavior on his part.

Or Hewlett-Packard Co., where directors showed the door to an equally well-known CEO because her multibillion-dollar acquisition strategy had fallen short of projected results.

Or American International Group Inc., where just this week, amid allegations of questionable business practices, the longtime CEO was forced out of the job by a board acting in what one member described as "the best interest of [company] shareholders, customers and employees."

Which Boeing are you referring to? The Boeing that allowed bid-rigging and under-the-table agreements with the US Air Force as long as it made them money, or the Beoing that only just recently fired its CEO as a PR-stunt?

And H-P? Remember, acquisitions have to be approved by the Board. She would have been a hero if they were successful, now she's merely a scapegoat for the decisions of the rest of the Board.

And AIG!!! Don't even talk about them to us...Greenberg was not forced out by the Board due to any "best interest" of its shareholders, customers, and employees. Far from it, the NY Attorney General's Spitzer probes were getting just a little to close for them to feel comfortable anymore. He was praised by the Board when he entered into the agreements as they made the co's financial statements appear so much better. The agreements entered into by Greenberg have been going on for decades with the full support of AIG's Board; their only regret is finally getting caught out in the light of day.

Disney is not unique in the way it runs its business (unfortunately)...very few Board of Directors truly are independent of the CEO, they all got into their position due to politics...you think they are going to stop the behind-the-scenes-political-maneuvering once they're on the board? Yeah, right!

Haven't quite made of my mind yet on Iger, seems like someone who as the "quieter-type," will let the stronger, more forceful VP's run their respective departments and the corporation as a whole. I don't really think it's going to benefit the theme parks overall as each VP creates his own little fiefdom. Ergo, you won't necessarily see a stronger "unified" company, rather one of disparate entities fighting for the attention of the Board.

-R

 

[crusader]

Well said Lord Fantasius.

Which Boeing are you referring to? The Boeing that allowed bid-rigging and under-the-table agreements with the US Air Force as long as it made them money, or the Beoing that only just recently fired its CEO as a PR-stunt?

yeah. I'm afraid that's what we do know on the outside. These days the fleecing is completely out of control.

I'm hearing of salaries and consultants deals the likes of the dot.com era.

 

[yalegracey]

without roy eisner would still be ceo. some people don't understand that

 

[Horace Horsecollar]

This thread from almost 18 months ago magically reappeared because yalegracey posted a reply.

However, there has actually been some news on this subject — in July 2005 (over a year ago). See Roy Disney, Company Resolve Their Disputes, By Gary Gentile, Associated Press, Saturday, July 9, 2005. Here are the first three paragraphs:

LOS ANGELES, July 8 -- The Walt Disney Co. and two former directors who fought for two years have agreed to a truce, including dropping a shareholder lawsuit challenging the selection of the company's new chief executive.

The company said Friday it has named former director Roy E. Disney, nephew of the late Walt Disney, as a director emeritus and a consultant.

In exchange, Roy Disney and former board member Stanley P. Gold agreed not to run a challenge slate of directors or submit shareholder resolutions for the next five years. The two also pledged to back the leadership of Robert A. Iger, who will succeed longtime chief executive Michael D. Eisner in September.​

Roy E. Disney was born January 10, 1930, so on his next birthday, he'll be 77. Being named "director emeritus and a consultant" was a nice honor for Roy, and it brought closure to the rift between Roy E. Disney and The Walt Disney Company. But nobody should think this means he has an active role in running the company (nor that he wants an active role).

 

[manning]

Yes, talk is 'just talk' isn't it? Perhaps if you did your research you'd understand that this is misinformed 'talk' too.
The often wrongly atrributed "walt quote" calling Roy the 'idiot nephew' was never uttered by Walt, rather it was made by an advisor to Ron Miller.

Never mind didn't notice this was back in March of 2005.