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Thursday, March 04, 2004

Eisner Resigns as Chairman, Stays as CEO: Following a strong vote of no confidence, Michael Eisner has resigned as Chairman of the Board of Disney, though he will remain the company's Chief Executive. Though running unopposed for Chairman, 43% of shareholders withheld their votes, a stronger-than-expected opposition to the embattled executive. In addition, the naming of George Mitchell as the new Chairman has drawn criticism and claims that the Board is no more independent from Eisner that it was with him as its leader. Mitchell is a long-time Disney board member and supporter of Eisner.

The Orlando Sentinel has several articles about Eisner, including how he was idolized only 10 years ago and that his prime mistake was underestimating Roy Disney, who has led this charge.


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