Michael Eisner plans to step down as Walt Disney chief executive when his contract expires in September 2006.
The decision, announced in a letter from Eisner to the board that was released Friday, signals the end of the 62-year-old Eisner's two-decade reign at the helm of the Burbank, Calif.-based company. Eisner has presided over a vast expansion of one of the world's best-known brands, whose businesses range from theme parks to films to the ABC television network.
It also comes six months after Eisner, who became chief executive in 1984, narrowly survived a tumultuous battle led by dissident shareholders Stanley Gold and Roy Disney, a nephew of founder Walt Disney, to oust him from Disney leadership. Eisner was stripped of his role as Disney chairman.
Barry Hyman, chief investment strategist at Ehrenkrantz, King, Nussbaum, said Wall Street would be pleased by the move, which would clear up uncertainty.
"Two years should be plenty of time to find a successor and that may ease some of the pressure on the company," said Hyman, who does not own shares of the company.
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link (cnet article)
Does this mean anything for Apple? Will Apple and Disney still not get along, or are much of the relationship problems due to Eisner?