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August 14, 2005

Business News: Next Disney Chief Plans Company's Transformation

From the New York Times:

Published: August 15, 2005

LOS ANGELES, Aug. 14 - Robert A. Iger does not officially get the keys to the Disney castle for another six weeks, but he is already well along with his restoration plan.

Mr. Iger, the 54-year-old president of the Walt Disney Company, becomes chief executive on Oct. 1 as the handpicked successor to Michael D. Eisner, who ran the corporation with skillful determination for 21 years but has more recently reigned over a troubled kingdom.

When a Delaware judge last week upheld Disney's $140 million severance package granted to Michael S. Ovitz in 1996, after only 14 months as president, it closed one of the last pieces of unfinished, unflattering business from the Eisner era.

Mr. Iger, though, has not been waiting for judges or anyone else to fix problems that festered on Mr. Eisner's watch.

LINK to rest of article

Posted by Becky at August 14, 2005 6:13 PM Posted to Business News