Disney Board Ponders Eisner’s Future
Created 04/25/2004 - 23:00
Board members of the Walt Disney Co. assembled at Disneyland on Monday for an informal two-day retreat to discuss, among other things, whether to renew ceo Michael Eisners contract, which expires in 2006, the LOS ANGELES TIMES reported. CalPERS and other pension funds recently demanded a meeting with the board, which is scheduled for May 21, 2004.
In addition to thorny issue of succession, many investors want the board to become more heavily involved in overseeing the company's strategy and ensuring its long-term financial health. Directors are expected to receive presentations on business strategies for each of the divisions and to discuss criteria for adding another independent director to the board.