Breaking Windows

Roy Disney and Stanley Gold Say Vote Is Clear Message That Eisner Must Go Philadelphia, PA - March 3, 2004 -- "The resounding 'No Confidence' vote cast by shareholders/owners of The Walt Disney Company (NYSE: DIS) has sent a clear and undeniable message that dramatic change is needed now and that Michael Eisner must go," Roy E. Disney and Stanley P. Gold said today. Messrs. Disney and Gold said that their estimated tally of votes indicates that Walt Disney Company shareholders withheld more than 40% of votes from Michael Eisner for re-election as a Director of the Company, and 20% from George Mitchell, John Bryson and Judith Estrin as Directors. "It has been suggested that Mr. Eisner's withhold vote is really a referendum on the separation of the jobs of chairman and CEO," they stated. "While we agree that this is a necessary action, and the job should be split, we don't believe Mr. Eisner should have either job." As Patrick McGurn of Institutional Shareholder Services said, "This is unprecedented. This is beyond a referendum on corporate governance. This is a referendum on Eisner's continued presence at the company." ISS earlier recommended a "no" vote on Mr. Eisner. Source: SaveDisney.com I could elaborate and go into my opinion on Eisner, but I wont. He just has to go.