Darkbeer
01-30-2003, 11:23 PM
Disney's Net Fell By 41% In Fiscal 1Q (http://sg.biz.yahoo.com/030131/72/36zig.html) - Dow Jones, 1/30/03
QuikQuote: Mr. Eisner also touted the company's progress on the corporate-governance front, including the move earlier this week to shrink the size of Disney's 17-member board to 13 via the resignation of four directors. But the downsizing was rocky, as one of the departing members -- Sotheby's executive Andrea L. Van de Kamp -- complained that she was being removed for being critical of Mr. Eisner, according to people familiar with the matter.
At a board meeting Monday, Ms. Van de Kamp pointedly protested her removal. She appealed for reconsideration to the governance and nominating committee, and later to the full board, but was twice rebuffed. People familiar with the matter say she suggested to the board that she was being removed because she in the past has sided with Disney board members Roy E. Disney and Stanley Gold, who have been sharply critical of Mr. Eisner in recent months. During the meeting, Mr. Eisner argued that she wasn't being punished for her opposition to him. Ms. Van de Kamp didn't comment. Disney issued a statement saying only that the slate of board nominees for the next year was selected by its governance committee and approved unanimously by the full board.
QuikQuote: Mr. Eisner also touted the company's progress on the corporate-governance front, including the move earlier this week to shrink the size of Disney's 17-member board to 13 via the resignation of four directors. But the downsizing was rocky, as one of the departing members -- Sotheby's executive Andrea L. Van de Kamp -- complained that she was being removed for being critical of Mr. Eisner, according to people familiar with the matter.
At a board meeting Monday, Ms. Van de Kamp pointedly protested her removal. She appealed for reconsideration to the governance and nominating committee, and later to the full board, but was twice rebuffed. People familiar with the matter say she suggested to the board that she was being removed because she in the past has sided with Disney board members Roy E. Disney and Stanley Gold, who have been sharply critical of Mr. Eisner in recent months. During the meeting, Mr. Eisner argued that she wasn't being punished for her opposition to him. Ms. Van de Kamp didn't comment. Disney issued a statement saying only that the slate of board nominees for the next year was selected by its governance committee and approved unanimously by the full board.