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Disney News


Eisner won't stay on Disney's board

Veteran CEO plans to make a clean break when he steps down in 2006 -- 'Fortune' interview

CNN/Money

NEW YORK - Michael Eisner expects to make a clean break with Disney when he leaves his post as chief executive officer in two years -- neither staying on the board nor taking on the chairman's job, the veteran CEO said in a magazine interview.

Eisner, who has headed Disney (DIS: down $0.38 to $23.04, Research, Estimates) for two decades, said he won't ask to remain on the company's board of directors, according to an upcoming interview in Fortune magazine.

"My assumption is that I would not continue on the board, or as chairman. I have a full business life ahead of me," Eisner is quoted as saying, according to excerpts of the interview provided by Fortune.

His management has come under fire lately, most recently when a group of dissidents led by board member and family heir Roy Disney called for Eisner to step down in 2005 instead of 2006, when Eisner says he wants to exit the company.

Eisner also sought to dispel rumors that Disney's troubles with its edgy film unit Miramax and a stalled partnership with the animation company Pixar are due to his management style.

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