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Monday March 14, 08:41
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Eisner deserts Disney to be replaced by former ABC head Iger
(by Peter Van Bruggen)
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Michael Eisner has announced his departure as Walt Disney chief executive and will be replaced by Robert Iger, former director of the ABC network. On Sunday Disney’s chairman, George Mitchell, said that Iger will take the post on Sept. 30. The departure will end three decades of Eisner’s reign as Walt Disney head. In a letter to the company’s board, Mr Eisner said: "As much as I have loved nearly every minute of my tenure, two decades is enough time to spend as a chief executive of one company." Mr. Eisner reminded in the messaeg of the fifteen-fold rise in revenue of the company under his leadership, and a surge in profits to $2.3 billion from $98 million. Roy Disney, nephew of the company’s founder, said that Mr Iger’s selection had followed a "lengthy, thorough and professional selection process" that started in September. Another choice that was contemplated was Meg Whitman, the head of eBay, but she refused to accept the job over the weekend. Iger is widely regarded as Eisner’s candidate, and has faced opposition from Roy Disney and another rebel shareholder, Robert Gold.
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