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September 13, 2004

Roy Disney & Stan Gold Want Board to Take Action

In several independent articles, former Walt Disney Company board members, Roy Disney and Stanley Gold demanded that the Walt Disney board should start a search immediately to find a new chief executive to replace Michael Eisner as soon as possible. Referring to Mr Eisner's nomination of group president Robert Iger as his choice to replace him, they claimed that allowing the current chief executive to remain in place for another two years would lead to further losses of creative talent. They said on Monday that if Mr Eisner remained as chief executive, it would be difficult to find anyone willing to work in his shadow. Roy E. Disney and Stanley Gold said Monday they will propose an alternate slate of directors if Disney's board does not launch an immediate search for a new CEO and announce that Eisner will step down from the board at the conclusion of the search. The two former board members said a new chief executive should be in place before Disney's next shareholder meeting in early 2005.

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