Eisner says No to Disney board

It is the first time that Eisner acknowledged he was not seeking the chairman’s job after the current chairman, former Senator George J. Mitchell, steps down. Eisner earlier declined to discuss if he was interested in the job. Two people who spoke with him recently spoke of his interest in the chairman’s post after his contract ended.

In saying he is not interested, Eisner further quelled criticism that he was seeking to remain at Disney, making it easier for the board to seek an outside candidate to succeed him. Eisner’s contract does allow him to stay on as a consultant. But the real concern among analysts, executive-search professionals and media executives interviewed in recent days was that few candidates would be interested in the top job if Eisner was chairman. That sentiment was seized upon by Eisner’s critics who want him gone before his contract ends.

“Any arrangement that permits Eisner to remain as chairman after relinquishing his CEO position is contrary to best governance practices,” wrote Roy E. Disney — nephew of the company’s founder — and Stanley P. Gold, in a letter to non-executive members of the Disney board last week. Further, the letter stated, “If you make it clear that Eisner is leaving the company and the board, we have no doubt that a number of excellent candidates will beat a path to your door.” Now with Eisner seemingly out of Disney’s future, it gives his critics less to complain about. Gold and Disney declined to comment on Eisner’s comments. — NYT