Calpers turns against Eisner.

Financial News, February, 2004

Michael Eisner's battle to stave off a shareholder revolt at Walt Disney suffered a setback on Wednesday when the largest US public pension fund declared that it would not vote to re-elect the media group's chairman and chief executive.The California Public Employees' Retirement System, which has assets of $165bn ([euro]132m) and holds 9.9 million shares in Disney, said it would withhold its votes from Eisner and three of fellow directors at the annual meeting next week due to its 'lack of confidence in the long-term strategic vision of the company.'

Calpers' move came as a judge in Delaware ordered the unsealing of documents relating to Eisner's decision in 1995 to hire of Michael Ovitz, the former agent, who left the company after 15 months with a $140m...

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