Disney Retires Amid Boardroom Row
DISNEY boss ROY DISNEY has been forced to resign by the film company's board of directors, and he wants to take CEO MICHAEL EISNER with him.
Disney, the nephew of founder WALT DISNEY, was forced to step aside due to the company's mandatory retirement age - he's 73-years-old and the cut off point for employees is 72.
But Disney is refusing to go without a fight - announcing his retirement to Eisner in a public letter in which he criticised the CEO's running of the company, asking him to step down.
In the letter, Disney claimed, "The company has lost its focus, its creative energy and its heritage."
Disney has been a longtime critic of Eisner, who he claims is "always looking for the quick buck". Disney has also blasted the company's CEO for building themeparks like Anaheim, California's CALIFORNIA ADVENTURE on the cheap."01/12/2003 21:15