LPWire: Disney Asks Roy Disney, Two Others On Board to Resign

Disney Asks Roy Disney, Two Others on Board to Resign

Statement by Sen. George J. Mitchell, Presiding Director on behalf of the Board of Directors, The Walt Disney Company

"The Governance and Nominating Committee recently informed Mr. Disney of its judgment that the mandatory age limits of the company's Corporate Governance Guidelines, which had previously been unanimously approved by the Board, should be applied to him and two other Board members, Thomas S. Murphy and Raymond Watson.

It is unfortunate that the Committee's judgment to apply these unanimously adopted governance rules has become an occasion to raise again criticisms of the direction of the Company, and calls for change of management, that have been previously rejected by the Board."

--Posted December 1, 2003
Source: Walt Disney Company