DISNEY TO NAME CEO BY JUNE MITCHELL: IGER, OUTSIDERS TO VIE.Byline: Greg Hernandez Staff Writer BURBANK - Disney Chairman George Mitchell George Mitchell may refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Robert A. Iger the only internal candidate to replace Michael D. Eisner as chief executive officer but said the company's board of directors will also consider outside choices and select a successor by June 2005. ``(Iger) is an outstanding executive and the board regards him as highly qualified for the position,'' Mitchell said during an afternoon conference call with reporters. ``However, the board believes that the process should include full consideration of external candidates as well.'' Mitchell's remarks came at the conclusion of three days of board meetings in which the selection process for Eisner's successor was among the major topics. Eisner announced earlier this month that he would step down as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. when his current contract expires in 2006. He marked his 20th anniversary as Disney's top executive Tuesday. Mitchell, who turned 71 in August, said if he is re-elected as chairman next year, the board will focus on choosing a successor for him after it selects the CEO. Mitchell said he wants to leave as chairman at the mandatory retirement A mandatory retirement age is the age at which persons who hold certain jobs or offices are required by statute to step down, or retire. Typically, mandatory retirement ages are justified by the argument that certain occupations are either too dangerous (military personnel) age of 72. He said the CEO and chairman roles would likely remain separate, and he reiterated remarks the 62-year-old Eisner made in an interview this week that he would not be a candidate for chairman when his CEO contract ends. The roles of chairman and CEO were separated in March after a shareholder revolt REVOLT, crim. law. The act of congress of April 30, 1790, s. 8, 1 Story's L. U. S. 84, punishes with death any seaman who shall lay violent hands upon his commander, thereby to hinder or prevent his fighting in defence of his ship, or goods committed to his trust, or shall make a revolt against Eisner, who had been chairman since 1984. ``Michael has made his statement on that, and we take him at his word,'' Mitchell said. ``It was definite, and as far as we're concerned, that's it.'' The board's statement of confidence in Eisner and Iger and the timeline of succession comes amid criticism from ex-board members Roy E. Disney Roy Edward Disney, KCSG, (born January 10, 1930) was a longtime senior executive for The Walt Disney Company, which his father Roy Oliver Disney and his uncle Walt founded. and Stanley Gold Stanley P. Gold is the President and CEO of Shamrock Holdings, which manages Roy E. Disney's investments. He was a longtime member of the Walt Disney Company's board of directors (1984; 1987-2003), before he and Roy Disney resigned to publicly campaign to oust then Chairman Michael , who want Eisner out sooner. The dissidents this week called for an independent search for a new CEO, and they have demanded that Eisner leave the top post within six months instead of two years from now. ``It's clear that any variation of an Eisner-Iger management team is ill-equipped to respond to the needs of those most interested in the Disney legacy, primarily the shareholders of this great American institution,'' the dissidents jointly said in a statement posted on their Web site. Meanwhile, on Tuesday, Mitchell also touted the direction of the company that, he said, barring an economic downturn, would experience double-digit growth in earnings at least through 2007. ``The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Company's condition and prospects are excellent,'' Mitchell said. Greg Hernandez, (818) 713-3758 greg.hernandez(at)dailynews.com |
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