Looking to control his exit while the company remains under fire, embattled The Walt Disney Co. CEO Michael Eisner plans to leave the media giant in two years.
As initially reported by The Wall Street Journal, the company announced that Michael Eisner plans to retire as Disney CEO in September 2006 when his contract expires.
Disney’s board stripped Eisner of his chairman’s title after a brutal campaign by dissident shareholders who had been fighting for his ouster.
The move will spark yet another round of frenzied speculation on who will take the slot. Eisner openly supports Disney President Bob Iger, who critics have blasted almost as much as Eisner for managing the company into a slump.
Disney’s board--which has largely supported Eisner--is expected to conduct a wide hunt for other candidates as well.