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Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

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  • Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

    From the SaveDisney.com website:

    BURBANK, Calif. (July 8, 2005) -- The Walt Disney Company, Roy E. Disney and Stanley P. Gold announced today that they have agreed to put aside the differences that have characterized their relationship over the past several years. Messrs. Disney and Gold have agreed not to run a rival slate of directors or submit shareholder resolutions for the next five years. Messrs. Disney and Gold have also agreed to dismiss all their pending lawsuits against the Company. In reestablishing ties with him and his family, the Company has named Roy E. Disney Director Emeritus and a consultant. The Company also reaffirmed its commitment to the rotation of committee members and chairpersons on its Board committees as currently required by the Company's Corporate Governance Guidelines. In putting aside their differences, the Company noted Mr. Disney's long time devotion to the Company and welcomed the reestablishment of a relationship with him and his family. Messrs. Disney and Gold expressed confidence in Mr. Iger's leadership, and as Mr. Eisner retires after 21 years with the Company, they acknowledged his contribution to the Company over the years.
    What the frell? They folded! I expected this to go the distance... :rant:
    Honor those who fall under the sword.
    But pity the warrior who has slain all his enemies.

  • #2
    Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

    Originally posted by Reaver
    From the SaveDisney.com website:



    What the frell? They folded! I expected this to go the distance... :rant:
    You are mad? Why a peaceful resolution is best for all us. Look Iger is a better than average choice, traditionally after a long term CEO vacates the next fool to take his place, only lasts a few years anyway. Hopefully a man with television experiance will put things right the same way Eisner put things right during the first few years of his administration.

    This is excellent news, we as fans should be happy that for the sake of all things- the outcome was posistive and best silver lining of all---Roy can now attend the 50th without any negative ramifications!






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    • #3
      Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

      I hope this means Roy can come on the 17th.

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      • #4
        Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

        He has a prior engagement.

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        • #5
          Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

          Note, there is a ongoing discussion on this matter in the Disney BUSINESS section...

          http://www.micechat.com/forums/showthread.php?t=7572

          And that the Statement was already posted in the News section....
          Check out my Theme Park Photos at http://darkbeer.smugmug.com

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          • #6
            Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

            Originally posted by ah schucks
            You are mad? Why a peaceful resolution is best for all us. Look Iger is a better than average choice, traditionally after a long term CEO vacates the next fool to take his place, only lasts a few years anyway. Hopefully a man with television experiance will put things right the same way Eisner put things right during the first few years of his administration.

            This is excellent news, we as fans should be happy that for the sake of all things- the outcome was posistive and best silver lining of all---Roy can now attend the 50th without any negative ramifications!

            OK, you're right about a lot of that, and I'm as happy as anyone that this probably means Roy will be there on the 50th. There is a wonderful aspect to this news.

            At the same time, they set out to have a fairly elected, non-groomed CEO installed, and not they're just saying "eh..."? Seems odd. And the board is still all there. Again, odd... It just seems to me like they threw in the towel.

            I hope it all turns out well, I honestly do. I just never expected them to give up the fight...
            Honor those who fall under the sword.
            But pity the warrior who has slain all his enemies.

            Comment


            • #7
              Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

              So, how much longer before Steve Jobs and George Lucas issue similar statements?

              Seriously thought - this is very good news for the company. Everyone now can get back to the business of "making magic" and repairing the damage of the last 5 years.
              WALT'S DISNEYLAND DEDICATION SPEECH! - To all who come to this happy place, welcome! Disneyland is your land. Here age relives fond memories of the past, and here youth can savour the challenge and promise of the future. Disneyland is dedicated to the ideals, the dreams, and the hard facts that have created America, with the hope that it will become a source of joy, and inspiration to all the world.

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              • #8
                Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

                Smart move by Roy and Stanley. The Save Disney movement had lost all of it's steam. Their website stated that their primary goal was to remove Eisner as CEO. Well he's almost gone and Iger needs to be given a chance.

                The movement can always be revived later if need be.

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                • #9
                  Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

                  Originally posted by Reaver
                  OK, you're right about a lot of that, and I'm as happy as anyone that this probably means Roy will be there on the 50th. There is a wonderful aspect to this news.

                  At the same time, they set out to have a fairly elected, non-groomed CEO installed, and not they're just saying "eh..."? Seems odd. And the board is still all there. Again, odd... It just seems to me like they threw in the towel.

                  I hope it all turns out well, I honestly do. I just never expected them to give up the fight...
                  What they set out to do was get a new board that would actually listen to Roy. This was about long-term control of the company, and for that you have to have control of the board.

                  My guess is that Roy was polling stockholders trying to figure out if his alternate slate of candidates had a chance. If not, cut bait and reduce your losses.

                  "Director Emeritus and a consultant".... That has to be something like "you can attend the meetings, but can't vote. We'll let you speak, but then we'll ignore whatever you say."

                  The real win for the company's stockholders is that with Roy back to being a "company executive", even if just "Emeritus" is that he'll have to keep his mouth shut.

                  That is a bad thing for fans.

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                  • #10
                    Re: Joint Statement from The Walt Disney Co. and Roy E. Disney and Stanley P. Gold

                    The Board has made a deal with Dianne. That is why she is going to be there on the 17th. You notice, she wasn't there on the 5th at the grand opening, She is also going to be signing copies of her book that Disney is reprinting. This is part of the 50th merchandising event. and if you had been paying attention, as I know you all do) her appearance was announced as an afterthought. How would it look for Roy and Dianne to be on opposite sides in court? not good for anyone. Frankly they both should be on the board and not in emiritus positions. They are the suriving children of the company's founders. I know that Diannes husband was kicked out when Eisner was put in but Sharon is now gone and with Roy off the board there is no Disney family member represented and i can't believe that the family doesn't own a huge block of voting stock.
                    just my opinion

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