Media Industry
Industry: Email Alert RSS FeedDisney stockholders soothed by color of money. (Walt Disney Co. stockholders elect directors, approve executive pay plan for CEO Michael Eisner despite issues)(includes related article about 'the Michael Ovitz situation')
Broadcasting & Cable, March, 1997 by Littleton, Cynthia
Despite uproar over executive pay, lucrative package for Eisner is approved, directors re-elected Michael Eisner worked a tough room last week. During an unusually contentious annual stockholders meeting in Anaheim, Disney shareholders grilled Eisner and other studio executives about Michael Ovitz's severance package (see box), executive pay plans and allegations that some Disney-branded products are made in Third World sweatshops.
In the end, however, the company's stellar financial performance ruled the day. Shareholders re-elected five directors to the Disney board and approved Eisner's lucrative new 10-year employment contract. Shareholder initiatives designed to limit executive pay and toughen workplace standards for Disney...
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