Now It's Time To Say Goodbye; How Disney's board can move beyond the Eisner era

Before a raucous, overflow crowd of more than 3,000 investors, Walt Disney Co. announced that an astounding 43% of the nearly 2 billion votes cast by investors withheld support for Michael Eisner is his post as Disney chairman. Yet it appears Disney's board, long criticized for its lack of independence, is just beginning to come to terms with the deep blow both it and Eisner have been dealt. The board's first priority should be to set a suitable deadline for Eisner to leave - 6 months tops - and get to work recruiting the strongest possible successor as CEO. Disney's board clearly needs to keep reforming itself, too - starting at the top. As the board sorts through its options in the coming days and weeks, it also has a duty to take a much more careful look at the bid by Comcast Corp.