Corporate governance: Plans question Disney's pick for new CEO.

Pensions & Investments, March, 2005 by Calio, Vince

Byline: Vince Calio BURBANK, Calif. - Pension executives see little magic in Walt Disney Co.'s appointment of Robert A. Iger as chief executive officer of the entertainment giant. Officials at several pension plans had wanted Michael Eisner to resign from both the CEO post and the Disney board of directors since the middle of last year, shortly after the Burbank company's profitable distribution deal with animator Pixar, Emeryville, Calif., blew up because of a dispute between Mr.

Eisner and Steven P. Jobs, Pixar's well-known CEO. And that wasn't the only reason Mr. Eisner faced dissent from shareholders. The price of Disney shares dropped 20% between 1999 and 2004; the profitability of the company's trademark theme parks declined steadily in those years;...

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