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Roy Disney is the son of company co-founder Roy O Roy Disney and Gold resigned from the board late last year and launched a campaign to oust Eisner, who they said has been mismanaging the company and has failed to formulate a viable long-term strategy Shares were down 20 cents to $24 In their letter, the two said shareholders should vote against the re-election of Eisner, George Mitchell, Judith Estrin and John Bryson Roy Disney and Gold said Mitchell had opposed their efforts to separate the office of board chairman and chief executive Disney and the nephew of Walt Disney Shares of Disney are up 4 percent since the beginning of the year Disney and Stanley Gold urged stockholders on Tuesday to vote against the election of four directors, including Disney chairman and chief executive Michael Eisner, at Disney's March 3 annual meeting " Bryson is being opposed because he was counted as an independent director when he joined the board two years ago, despite what Disney and Gold say were conflicts of interest "We are launching our 'No' campaign in an effort to improve the long-term financial health of the company, to restore shareholder value, to return the quality of its products and services to a level that will yield sustainable growth," the letter states Mitchell is the board's presiding director, responsible for holding separate meetings of the board away from company management The two also questioned his independence because he once served as a paid consultant to the company The two object to Estrin because as chairwoman of the board's compensation committee for the past two years, she "engineered what we believe were excessive total compensation packages for the company's top five executives board members Roy E 20 in late afternoon trading on the New York Stock Exchange Ex-Disney Board Urges Vote Against Eisner Jan 27, 3:48 PM EST Former Walt Disney Co In a letter sent to shareholders, the pair said voting against the directors will send a message to the board that widespread changes are necessary He was stripped of his independent status earlier this year by the board Bryson's wife is an executive at the Lifetime cable channel, which is half-owned by Disney A Disney company spokesman did not immediately return a call seeking comment 20 arrest on suspicion of child molestation Michael Jackson to Discuss Sex Charges Dec 26, 11:37 AM EST CBS' "60 Minutes" will air an interview with pop superstar Michael Jackson on Sunday, marking Jackson's first public comments since his Nov Jackson, 45, is charged with seven counts of performing lewd or lascivious acts upon a child under 14 and two counts of administering an intoxicating agent He remains free on $3 million bail Ed Bradley interviewed Jackson for about 30 minutes Thursday at a hotel in Los Angeles, CBS spokesman Kevin Tedesco said Friday |
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