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The Disneyland Report > Disney News > Walt Disney Company CEO Michael Eisner to step down in September 2006 Disney NewsWalt Disney Company CEO Michael Eisner to step down in September of 2006 after over 20 years in positionAfter months of speculation, embattled Walt Disney Company CEO Michael Eisner has announced that he will not renew his contract with the Walt Disney Company after it expires in September of 2006, two year from this month. Rumors have been flying about Michael Eisner's departure for months following a widely publicized split with former Walt Disney Company board members Roy Disney, nephew of company founder Walt Disney, and Stanley Gold. Disney and Gold accused Eisner of mismanagement of the Walt Disney Company. Roy Disney launched a website entitled Save Disney, which aimed to oust Michael Eisner as CEO of the Walt Disney Company. A dramatic shareholders' vote at this year's annual stockholders' meeting in Philadelphia underscored the discontent toward Eisner's management of the company, despite his earlier successes in reviving the company. A few days ago, Eisner announced that he would like Bob Iger, President and Chief Operating Officer of The Walt Disney Company, to replace him as CEO. This can now be seen as a foreshadowing to today's announcement. Michael Eisner was responsible for one of the biggest periods of growth for the Walt Disney Company. As CEO for 20 years, he is responsible for expanding the Disney brand theme parks to around the world and developing and expanding the existing U.S. Disney parks, as well as creating a "renaissance" for Disney animated films, with such musical hits as The Little Mermaid, Aladdin, Beauty and the Beast (the only animated film ever to be nominated for the Academy Award's Best Picture category), and The Lion King (the highest grossing animated film in history before Finding Nemo). The Disneyland Report will monitor this story as it develops and continue to offer links regarding Michael Eisner's plans as this story develops. Return to Disney News. |
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