Darkbeer
11-21-2002, 10:22 AM
Tensions persist between Eisner and Roy Disney (http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2002/11/21/financial1025EST0053.DTL) - The Wall Street Journal, 11/21/02
QuikQuote: That is striking given their shared history. Messrs. Gold and Disney played a major role in giving Mr. Eisner his job in 1984 and supported him through a variety of crises through the 1990s. They began pressuring Mr. Eisner earlier this year as Disney's share price sank to eight-year lows, diminishing the value of Mr. Disney's 17.5 million shares in the company. But even then, the two sides were in regular contact as they tried to work out their differences.
That dialogue has been sharply curtailed since the September meeting. At that session, according to people familiar with the matter, Mr. Eisner sought to get rumors of management instability at the company into the open. He directly confronted Messrs. Disney and Gold over what he said was their lack of confidence in Mr. Iger as a possible successor to him. Mr. Eisner has also told Messrs. Gold and Disney that he believed they wanted to replace him, as well. Mr. Gold, meanwhile, made a presentation to fellow board members that was sharply critical of the company's recent performance under Mr. Eisner.
QuikQuote: That is striking given their shared history. Messrs. Gold and Disney played a major role in giving Mr. Eisner his job in 1984 and supported him through a variety of crises through the 1990s. They began pressuring Mr. Eisner earlier this year as Disney's share price sank to eight-year lows, diminishing the value of Mr. Disney's 17.5 million shares in the company. But even then, the two sides were in regular contact as they tried to work out their differences.
That dialogue has been sharply curtailed since the September meeting. At that session, according to people familiar with the matter, Mr. Eisner sought to get rumors of management instability at the company into the open. He directly confronted Messrs. Disney and Gold over what he said was their lack of confidence in Mr. Iger as a possible successor to him. Mr. Eisner has also told Messrs. Gold and Disney that he believed they wanted to replace him, as well. Mr. Gold, meanwhile, made a presentation to fellow board members that was sharply critical of the company's recent performance under Mr. Eisner.