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LPWire: Disney CEO Michael Eisner Talks to FORTUNE

FORTUNE Exclusive: Disney CEO Michael Eisner Talks To FORTUNE About His Retirement -- and His Plans for the Future

In his first wide-ranging interview since he announced his retirement, Disney CEO Michael Eisner tells FORTUNE why he craves drama, still micromanages -- and won't stay on as chairman when he gives up his position as CEO. Speaking to FORTUNE editor-at-large Patricia Sellers, Eisner explains his decision to leave Disney -- when he steps down in September 2006, he will have been at the helm for 22 years -- and discusses his recommendation for a successor, as well as Disney's partnerships with Pixar and Miramax. The story appears in the October 4 issue of FORTUNE, available on newsstands September 27 and at www.fortune.com.

Highlights from the interview:

On why he chose to retire:

"I just decided I wasn't going to be a perpetuity CEO. Nobody inside the company knew it was coming, and none of my friends knew it was coming."

On whether he will stay on the board after his retirement:

"I have not asked the board to stay on the board or be chairman after the end of my contract. My assumption is that I would not continue on the board or as chairman. I have a full business life ahead of me. Clearly I'm not the type to retire, particularly after all these lectures from medical experts about how an active mind is good for the body."

On his recommendation that Bob Iger succeed him as CEO:

"I made myself clear to the company that they have a candidate who not only has the experience in all the businesses in which we operate but also understands the Disney culture, is extremely well liked inside the company and out, has been a great COO, and manages 90% of the company today, including ESPN and its great growth."

On Pixar and Miramax:

"Whether or not Pixar and Disney come closer together past 2006 than they're projected to be or whether or not Miramax stays with the company--well, Miramax is staying, but whether management stays--is simply an issue of value to our shareholders. It has nothing at all to do with personalities. Never has."

On micromanaging:

"You know, if you use the word the way you do, it sounds like something you should go to Mount Sinai or Sloan-Kettering to get cured from. If you use it the way I'm talking about it, which is a work ethic and a demand for product quality, it's something worthwhile."

--Posted September 20, 2004
Source: Fortune Magazine

 

 

 

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