Disney Goofs Again
The Walt Disney
Good news, bad news about Disney this weekend. Poor Walt continues to turn in his grave (or cryogenic chamber, if you buy into that false urban legend).
Good news: Michael Eisner is finally leaving Disney!
Bad news: They are replacing him with Eisner clone Robert Iger.
If you're in business or planning on getting into business, here's what to remember . . . If there's a 45% shareholder vote against the CEO, what do you do? Allow him to resign and replace him with the president that is not much better than the original CEO. Problem solved(?) Don't forget to let the current CEO step down a year early, but allow him to take his full pay for that last year anyway. Also don't forget to give him at least $6 million in post-termination bonuses for the following three years. Oh, and let him have the same company perks he has now, even though he won't be CEO any more. Good thinking.
Iger is nothing more than Eisner-lite. The clear indicator is that one article said that "in his time at Disney, Iger has avoided any high-profile spats with his boss." If Eisner is your boss and you simply go along with the flow, you're pretty much worthless. Well, either "worthless" or "new CEO of Disney," which might just be the same thing.
Of course, Roy Disney and Stanley Gold are disgruntled. First off, they let Eisner sit in on the candidate interviews.
One fun thing I noticed is that Leslie Moonves was one of the candidates. Moonves is at CBS now, and that would have put him at ABC's family. Let's hope that Moonves sticks at CBS and does his best to promote The Amazing Race.
One other downside of Iger: He's going to try and get Pixar back. Pixar, RUN!!! Let's hope Steve Jobs has the sense to realize that Iger does not represent a shift at Disney, but the same ol' same ol'.
Update: 1754blog turned me on to the site SaveDisney.com, devoted to those concerned about the welfare of The Walt Disney Company and its future direction.
This entry was posted
on Monday, March 14th, 2005 at 10:45 by Novac and is filed under All, Media, Politics.
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