The New York Times covers Roy Disney’s resignation:
“Roy E. Disney, a nephew of the founder of the Walt Disney Company, said on Sunday that he was leaving the board of directors and called for the resignation of the chairman and chief executive, Michael D. Eisner.”
Animated-News.com has a reprint of the full letter to Eisner and the board:
“I have and will always have an enormous allegiance and respect for this Company, founded by my uncle, Walt, and father, Roy, and to our faithful employees and loyal stockholders. I don’t know if you and other directors can comprehend how painful it is for me and the extended Disney family to arrive at this decision.”
Big news. It’s a shame that Roy is the one to leave. It’s clear that Disney (the company) has lost its way, and Eisner has no vision for what the company could be.