Eisner to Retire ; Disney Chief to Leave After Tumultuous Command

Summary


Michael D. Eisner, the chief executive who helped turn the Walt Disney Co. into the world's second-largest media conglomerate but has come under fire recently for its financial slump, announced plans yesterday to retire in two years.

Mr. Eisner, in a letter to Disney's board of directors, said he will step down when his contract expires on Sept. 30, 2006.

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Eisner to Retire ; Disney Chief to Leave After Tumultuous Command

"Until then I shall continue to exert every effort to help the company achieve our goals, to assist the board in selecting the new chief executive officer, and to make the transition expeditious, efficient, and smooth and easy," he wrote.

During Mr...

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