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Support The DrudgeReport; Visit Our Advertisers  DISNEY: HOW MANY EMPLOYEES VOTED AGAINST EISNER? Wed Mar 24 2004 11:02:39 ET Walt Disney Co.'s chief shareholder rebel, Roy Disney, asked Wednesday for a count of employees who voted against Michael Eisner in a recent no-confidence vote. An attorney for Roy Disney -- nephew of the company namesake -- released a letter that was sent to the entertainment giant, asking for the percentage of votes in the company's retirement plan cast against Eisner. Eisner stepped down as chairman but remained in the job of chief executive after a 43.4 percent no-confidence vote at the annual shareholder meeting earlier this month. George Mitchell, a board member and former US senator from Maine, succeeded Eisner as chairman. Roy Disney said he believes a much larger percentage of company employees voted to remove Eisner. "The No vote by 401k (retirement) plan participants on the re-election of Mr. Eisner is rumored to be in excess of 70 percent of the shares held in the Disney share plan," David Robbins, attorney for Roy Disney, said in a letter to company lawyer Donald Wolfe. Disney officials could not be reached for immediate comment. A tally of the employee vote could be critical for Roy Disney, who still is campaigning to get Eisner out of the company entirely. If a large percentage of Disney employees want Eisner to leave, then the company's board may be pressured to also replace him as CEO. The company's plan is administered by Fidelity Investments and involves 28 million shares, Robbins said. Robbins said in his letter that Disney company officials have told members of the media that it does not know the tally of these votes. Fidelity, however, has stated that it has told the company twice what the tally was, according to Robbins. |
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