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40th Week 2205
/ Eisner Talks About the Future
at HRTS Luncheon. Pictured above: Disney
executives and Hong Kong mayor, joining in the opening of
Hong Kong Disneyland. On Friday, September 30th, 2005,
Eisner, 63, stepped down as head of the company he has led
for 21 years, formally giving over the reigns to his
handpicked successor, Disney President Robert Iger.
Bottom row left:
Eisner's son, Anders Eisner, wife, Jane Eisner, Michael
Eisner and son Brett
Eisner
• • On the eve of his exit, outgoing Walt Disney Co. CEO Michael Eisner, (September 28, 2005), Eisner signed over the companies African Art collection to the Smithsonian. Three days before, he took center stage, along with his family watching on, making his farewells to his media friends at the Regent Beverly Wilshire Hotel in Beverly Hills, California. • • Speaking to an audience of entertainment executives Tuesday, Eisner reminisced about his accomplishments, noting that the company's once-suffering ABC television network had launched the fall season at the top of the heap for the first time in a decade. ABC was No. 1 among viewers 18 to 49 years old, the audience most coveted by advertisers. • The network's strong showing came "just in the nick of time," Eisner said. "Next week, I couldn't take credit for it." • • While attending functions such as the opening of Hong Kong Disneyland and promoting his book "Camp," Eisner has kept a low profile in recent months, surprising critics who suspected he'd have trouble wrenching himself from a company in which he had vested so much of his identity and stirred up so much controversy. • • Indeed, the mere prospect of Eisner's remaining at Disney in some capacity became a central issue during the search for a successor. Eisner's critics in and out of the company believed that if he was to remain in a position of power he might undercut his replacement. • • His exact role with Disney in the future remains unclear. Publicly, Eisner has said only that he expects to remain in the entertainment field. Behind the scenes, however, he is seeking continuing ties to the company. • • Those could include a consulting deal and the use of such perks as the corporate jet and an office with an assistant. • • Eisner had considered moving into the vacant office of Roy E. Disney, a former dissident director who quit in a dispute with the CEO and later led a shareholder revolt that resulted in Eisner being stripped of his chairmanship title. • • That office had once been occupied by Roy's uncle, Walt, as well as by Eisner himself. • • Disney spokeswoman Zenia Mucha acknowledged that Eisner had considered keeping an office on the company's Burbank lot but chose not to do so. She would not say where an office might be found for the ex-CEO. Eisner's Future with Disney • • Disney board members are expected to finalize the terms of his ongoing relationship next month. But this much already is clear: Eisner will remain one of the largest individual shareholders of the company, holding approximately 14 million shares, valued at $327 million based on Tuesday's closing price of $23.36. • • In his waning days, Eisner has said that he does not want a send-off party. He is expected to send a farewell e-mail to the company's approximately 120,000 employees this week. He is likely to remind them of the entertainment giant Disney has become. • • Eisner transformed the company from an ailing studio with a few theme parks to a $30-billion global media giant with 11 parks, television networks, Broadway shows and cruise ships. • • But his legacy was also tarnished by a series of high-level clashes, leading to the departure of executives who in many cases moved on to successful careers elsewhere. • • His most publicized falling-out was with former Disney President Michael Ovitz, who was fired in 1996 after just 15 months on the job. October
1, 2005 / Eisner's Farewell to Disney Employees: 'I've
Learned So Much' Dear All, 4.
Editor's Note /
As the honored guest of the Hollywood
Radio and Television Society, "he gave little hint of his
sometimes stormy tenure with Disney," says Josie Cory. After
the lunchen, I spoke to Mr. Eisner and met members of his
family, sons Anders,
Brett and Jane Eisner pictured above
in the montage. More Articles • Converging News 402005 / TeleCom Buy Outs, Spinoffs and Asset Seizure Boom Respectfully
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