quote:

---

BY GARY GENTILE

Associated Press

LOS ANGELES - Michael Eisner, who helped transform The Walt Disney Co. into a media powerhouse but has recently come under pressure to improve the company's lagging performance, will retire after more than two decades as CEO.

In a letter to Disney's board, Eisner said he will step down in September 2006, when his contract expires.

Eisner -- known as a workaholic who reads scripts at night, watches every television pilot and even helps in the design of theme parks -- is credited with revitalizing Disney's animation efforts and expanding the theme parks. His most dramatic move was the 1985 purchase of Capital Cities/ABC, which added ABC, ESPN and other TV networks to the mix.

But Disney has fallen on hard times in recent years amid sinking ratings at ABC Networks and some questionable acquisitions. Disney stock has stumbled, and investors began to question Eisner's control over his board of directors.

Last year, Roy Disney and ally Stanley Gold, once Eisner's strongest backers, resigned from the board and championed an effort to oust him.

That effort is joined by several large and influential shareholders, some of whom on Friday called for Eisner to step down sooner and resign his seat on the board as well.

''It is not clear to us how a two-year lame duck CEO will benefit shareowners, and his continued presence on the board would prevent the company from the clean break that is needed to restore investor confidence,'' said Sean Hannigan of the California Public Employees Retirement System, the nation's largest pension fund and a major Disney investor.

The timing of the announcement set off a guessing game about possible successors and raised questions about whether the move will silence his most vocal critics.

Roy Disney and Gold have sustained their ouster efforts and said they would run a challenge slate of directors at next year's shareholder meeting. Eisner's announced retirement may undermine those efforts.

---

Edit: Oops forgot quotes...
 

---

Posted by Mike Olpin (Member # 1115) on 09-11-2004, 04:46 PM:
 
That's when he was supposed to leave anyway.
What he needs to do is step down NOW while the creative integrity of the company can still be saved.
 

---

Posted by Michael Schaffer (Member # 1204) on 09-11-2004, 09:29 PM:
 
Is there any more creative integrity left in McDisney`s?
 

---

Posted by Christian Appelt (Member # 1067) on 09-12-2004, 05:17 PM:
 
Disney management did cut off the company's roots when they closed down their animation studios. What a bizarre idea to blame the very art form of animation for bad performances by recent Disney movies! IMHO the last Disney productions with a touch of originality were LILO AND STITCH and HERCULES...
These executives do not understand that audiences are attracted to well-told stories and characters which are fun to watch - not because Pixar's films are CGI. I'm afraid that we'll get nothing but the same tired Disney recycling stuff, only done in CGI!
 

---

Posted by Daryl C. W. O'Shea (Member # 1303) on 09-12-2004, 08:09 PM:
 
Disney cutting loose most of their animation people sounds like Toys 'R Us selling off their toy division.
 

---

Posted by Dean Kollet (Member # 1789) on 09-12-2004, 08:22 PM:
 
He needs to leave...Disney needs to get back to its roots. I don't care about CGI and having parks in every country...

Save Disney
 

---

Posted by David Buckley (Member # 2600) on 09-12-2004, 10:12 PM:
 
Interesting rewrite of history. Post-Walt, Pre-Eisner, Disney was a mess, and Eisner is widely credited with saving Disney. Is there any reason to believe a post-Eisner Disney will fare any better than the Pre-Eisner? I dont think so.

In my opinion, what Disney does really well is live entertainment, meaning theme parks and live theatre shows, though the parks are going to pot. In movie and TV land, its just one of many.
 

---

Posted by Bill Enos (Member # 440) on 09-12-2004, 11:35 PM:
 
Moviemaking is a pretty small part of the Disney conglomerate these days
 

---

Posted by Pravin Ratnam (Member # 1417) on 09-15-2004, 04:39 PM:
 
With the money Eisner gets, he does not deserve to have years where he can live off past accomplishments. The money he gets demands that he produces all the time. Eisner was very well compensated for his contributions in the 80s. No need to be grateful to him by giving him a free ride now. He is not working for the benefit of the company and that is clear cut when he has shown no willingness to find the best possible candidate to succeed him. He is looking out for himself all the time. The guy should leave Disney right away as he has made himself a distraction to the company. If a top animator made himself a distraction, he would be shown the door. Why should Eisner be exempt?
 

---