Can Michael Eisner Hold The Fort?

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Can Michael Eisner Hold The Fort?

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Sometimes life really does imitate art. Walt Disney Co. (DIS ) is preparing to release a much-delayed movie about the Alamo massacre. Just like Jim Bowie and Davy Crockett, embattled Disney Chief Executive Michael D. Eisner and new Chairman George Mitchell are facing more than a few hostiles. Some folks are betting they’ll be on the losing end, too. // ‘); } // ]]> // Institutional investors, who tasted first blood with their 43% no-confidence vote in Eisner on Mar. 3, are in no mood to break off the attack. “This isn’t over because Disney changed some titles,” says Cynthia Richson, corporate-governance officer at the $59 billion Ohio Public Employees Retirement System, which withheld its 4.7 million votes from both Eisner and Mitchell. Richson is finding plenty of support. She is forming a shareholder committee to make sure that Mitchell stays as independent from Eisner as the new chairman promised. Ideally, though, Richson believes that the board should replace Mitchell, a former U.S