Chairman of Disney
On March 4, 2004, Disney's board of directors, on which Mitchell had served since 1995, named him Michael Eisner's replacement as Chairman of the Board after 43% of the company's shares were voted against Eisner's reelection (35% was the minimum for disposal). Mitchell himself received a 24% negative vote, a fact that led dissident Disney shareholders Roy E. Disney and Stanley Gold to criticize the appointment of Mitchell, whom they saw as Eisner's puppet.
Having already served on the boards of such companies as Xerox, Starwood, Fedex, and Staples, Mitchell assumed his new role at a particularly tumultuous time in the company's history, needing to face such issues as Comcast's hostile takeover attempts and a possible split with Pixar. Mitchell played an important role in the selection of Robert A. Iger as Eisner's successor as CEO in 2005. On June 28, 2006, Disney announced that its board had elected one of its members, John Pepper, Jr., former CEO of Procter & Gamble, to replace Mitchell as chairman effective January 1, 2007.
Read more about this topic: George J. Mitchell
Famous quotes containing the words chairman of and/or chairman:
“You know, when these New Negroes have their convention—that is going to be the chairman of the Committee on Unending Agitation. Race, race, race!... Damn, even the N double A C P takes a holiday sometimes!”
—Lorraine Hansberry (1930–1965)
“You know, when these New Negroes have their convention—that is going to be the chairman of the Committee on Unending Agitation. Race, race, race!... Damn, even the N double A C P takes a holiday sometimes!”
—Lorraine Hansberry (1930–1965)