Darkbeer
02-03-2004, 01:03 AM
Roy Disney steps up efforts against Eisner (http://www.sunspot.net/business/bal-bz.disney03feb03,0,1578593.story?coll=bal-business-headlines) - Bloomberg News, 2/3/04
QuikQuote: Roy Disney said in an interview that when he meets with Institutional Shareholder Services, the largest adviser to fund managers on proxy votes, he will say Eisner has mismanaged Burbank, Calif.-based Disney. Roy Disney and Gold said they plan to meet with as many as 50 shareholders before the company's annual meeting March 3 in Philadelphia.
The former directors are encouraging proxy advisers, including Glass, Lewis & Co., to recommend that their investor clients withhold support in a shareholder vote of reappointment of Eisner and three other directors. If enough investors decide not to vote for Eisner, it would be a blow to the chairman and chief executive, who has run the company since 1984. "Essentially, it's a vote of no confidence," said Greg Taxin, chief executive of San Francisco-based Glass, Lewis. "It will lead to directors taking their fiduciary duties more seriously or in some cases stepping down."
QuikQuote: Roy Disney said in an interview that when he meets with Institutional Shareholder Services, the largest adviser to fund managers on proxy votes, he will say Eisner has mismanaged Burbank, Calif.-based Disney. Roy Disney and Gold said they plan to meet with as many as 50 shareholders before the company's annual meeting March 3 in Philadelphia.
The former directors are encouraging proxy advisers, including Glass, Lewis & Co., to recommend that their investor clients withhold support in a shareholder vote of reappointment of Eisner and three other directors. If enough investors decide not to vote for Eisner, it would be a blow to the chairman and chief executive, who has run the company since 1984. "Essentially, it's a vote of no confidence," said Greg Taxin, chief executive of San Francisco-based Glass, Lewis. "It will lead to directors taking their fiduciary duties more seriously or in some cases stepping down."