It's a Small, Small World

March 10, 2005

Roy E. Disney and Stanley P. Gold call on the Disney Board of Directors to "make a clean break from the sordid practices that have typified Disney's leadership these last few years."

Unfortunately, when it comes to selecting a new CEO, high standards don't seem to be on the Board's agenda. Indeed, between last September (when it announced it would select a new CEO by June of this year) and the annual shareholders meeting in early February, the Disney Board did not interview a single outside candidate for the job.

Nonetheless, during much of this time (i) Eisner and Iger have utilized the Company's extensive public relations operations to promote Iger for the job, (ii) the Board itself has publicly proclaimed Iger a leading candidate to succeed Eisner, and (iii) at least three Board members are reported to have already committed their votes to Iger's candidacy.

Given all this, is it any wonder that some potential candidates have said both publicly and privately that they believe "the fix is in"?

March 13, 2005

The Board responds.

LOS ANGELES (Reuters) - Walt Disney Co.'s board on Sunday named company president Robert Iger to succeed Michael Eisner as chief executive of the film, television and theme park company, effective Sept. 30, 2005.


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