Disney: Eisner Opposition Reaches 43 Pct.
Approximately 771 million out of 1.8 billion shares were voted against Eisner being reelected. About 1 billion votes supported the current chairman and chief executive.
That is higher than expected, I think. I was hearing an analyst this morning who said that 30% would've been bad.
Business law prof Steve Bainbridge explains the process.
Posted by Steven Taylor at March 3, 2024 03:09 PM | TrackBackA few weeks ago Roy and Co moved the (expectations) bar from 20% to 30%. A few days ago they moved it to 40%. Crossing that bar too is not good news for Eisner.
I would be very surprised to see him make another year. Certainly he won't be flying solo any more.
Posted by: Paul at March 3, 2024 06:29 PMIt's even worse than than the 43% that's being quoted.
Management usually counts those who counts those shares who do not vote as a vote for management. Of those shares that actually voted, in excess of 55% said Eisner had to go. Only be counting the abstentions (i.e. too lazy to send in the card) as pro Eisner does it get down to 43%.
Posted by: Buckland at March 3, 2024 08:56 PM