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Friday, Jun 9, 2023


eisner.btl/turner The annual shareholders’ meeting of Burbank-based Walt Disney Co. last month was an unusually frosty occasion for more reasons than one. There was a wide variety of questions from the floor for Chairman and CEO Michael Eisner, with many shareholders expressing anger and frustration over the high severence package paid to former President Michael Ovitz and over the lucrative compensation package for Eisner himself. But one shareholder toward the end of the meeting expressed the feelings of many of its 14,000 attendees when she asked Eisner, “Why is it so cold in here?” The meeting was held at the Arrowhead Pond in Anaheim, where a temporary floor was placed over the ice skating rink at the center of the arena (home of the Mighty Ducks hockey franchise). Eisner explained that the ice was causing the cold conditions, to which the shareholder responded that she was sitting in the stands several tiers above the ice. “Well, we also want to get this meeting over with,” joked Eisner, who by that time had been fielding uncomfortable questions for about a half hour.

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