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Disney Mends Rift With Kin of Founder - New York Times, 7/9/05

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  • Disney Mends Rift With Kin of Founder - New York Times, 7/9/05

    The Walt Disney Company and the nephew of the company's founder announced yesterday that they had patched things up, enabling the new chief executive, Robert A. Iger, to quickly put behind him one of the biggest potential challenges to his leadership.

    The agreement ends a longstanding battle over corporate governance and gives Roy E. Disney, the 75-year-old nephew of the late Walt Disney, an office at the company's Burbank studios, a consultancy and the title "director emeritus."

    A spokesman for Mr. Disney, Michael Sitrick, said that yesterday's agreement had been reached "after both Mr. Disney and Mr. Gold had several conversations with Bob Iger."

    The news release said both sides had agreed not to make additional comments.

    The timing of the reconciliation seemed just right. In a recent posting to his Web site, Mr. Disney had expressed nostalgia that he would not be attending the 50th-anniversary celebration of Disneyland. He had been there on opening day, July 17, 1955.

    Though Mr. Disney would now be welcome to attend, he has already made other plans for the day. He will be participating in a yacht race from Los Angeles to Honolulu.
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