Roy Disney, who is the last of the Disney family to work there, now has to leave the company. The company says he needs to go because of mandatory retirement. Roy is 73 which is one year above the retirement age of 72. Roy blames Michael Eisner.
According to Roy Disney, CEO Michael Eisner should leave because of bad ratings at Disney's ABC network, building new amusment parks "on the cheap," and micro-management. Originally, Roy had hired Eisner in 1984 to rejuvenate the company.
Roy Disney is Walt Disney's nephew. The committee that is forcing him to retire has chosen to waive the retirement rule in the past. Roy claims Michael Eisner spoke to them. He does get to keep 10 million shares in the company and profits are up.
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