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News > Save Disney founders Roy E. Disney and Stanley Gold respond
to Iger selection by Disney company
Disney News
Press Release
Save Disney founders Roy E. Disney and Stanley Gold respond to Iger
selection by Disney company
Save Disney founders Roy E. Disney and Stanley P. Gold today issued
the following statement on the Disney Board's decision to name Robert
Iger the Company's Chief Executive Officer:
"While it has taken three years to reach this point, our efforts
to remove Michael Eisner as CEO of the Walt Disney Company have finally
succeeded. Even the Disney Board, which has proven unresponsive to its
shareholders, recognized that it had to take this action after our campaign
which resulted in a resounding 45% No Confidence Vote on Michael Eisner
last year.
"Unfortunately, our concerns regarding this Board's process to
replace Mr. Eisner were well-founded. We find it incomprehensible that
the Board of Directors of Disney failed to find a single external candidate
interested in the job and thus handed Bob Iger the job by default. We
find it very telling that Mr. Mitchell refused to answer repeated questions
about whether the entire Board had interviewed more than one external
candidate. The Board has failed in what is clearly one of their most
important responsibilities, the selection of the Company's CEO.
"The need for the Walt Disney Company to have a clean break from
the prior regime and to change the leadership culture has been glaringly
obvious to everyone except this Board. The scathing portrait painted
by James Stewart in DisneyWar has been widely reported without serious
challenge or contradiction. A Board that is so deaf and insular cannot
be entrusted to provide independent stewardship to this valuable, unique
institution.
"The selection of Bob Iger is yet another example of this Board's
breach of faith. The pledge made by Chairman Mitchell to conduct a bona
fide search was a ruse to avoid a contest at the 2005 annual meeting.
Mr. Mitchell's approach to good governance is no better than a carny
at the fair, enticing words but in the end the game is rigged. Disney
Shareholders have been conned and their trust in this Board abused.
"Shareholders should seriously consider replacing this Board and
starting anew."
More Disneyland Report coverage of Robert Iger's promotion to CEO:
