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Michael Eisner

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Michael Dammann Eisner is an influential American businessman and media proprietor. He is best known for his long leadership at the Walt Disney Company. From September 1984 to September 2005, he served as chairman and chief executive officer (CEO). A CEO is the highest-ranking person in a company. They make the most important decisions for the business.

Before his time at Disney, Eisner worked at several major media organizations. He served as the president of Paramount Pictures from 1976 to 1984. He also held positions at major television networks, including NBC, CBS, and ABC.

Eisner's career at Paramount Pictures was marked by significant film and television success. During his tenure, the studio produced many famous titles. These included *Star Trek* films, *Grease*, and *Raiders of the Lost Ark*. The studio also released popular television shows like *Cheers* and *Family Ties*.

In 1984, Barry Diller left Paramount to become chairman. Eisner expected to take Diller's place as studio chief. However, he was passed over for the position. This led him to seek the CEO role at the Walt Disney Company.

When Eisner arrived at Disney, the company was in a difficult state. The founders, Walt Disney and Roy O. Disney, had both passed away years earlier. Shareholders Sid Bass and Roy E. Disney brought Eisner in to strengthen the company.

Eisner worked alongside president Frank Wells to revitalize the brand. One major success was the Disney Renaissance. This was a period of high-quality animation that included films like *The Little Mermaid* (1989), *Beauty and the Beast* (1991), and *The Lion King* (1994).

He also expanded the company's reach by acquiring ABC, a majority share of ESPN, and The Muppets franchise.

Eisner also focused on global expansion through theme parks. He led a plan known as "The Disney Decade." This involved building new parks and expanding existing ones around the world.

Notable openings included Disney-MGM Studios in 1989 and Euro Disney, now Disneyland Paris, in 1992. Other projects included Disney's Animal Kingdom in 1998 and Tokyo DisneySea in 2001. While many were successful, some projects faced challenges. Euro Disney had low attendance and went over its budget. A planned history-themed park in Virginia, called Disney's America, never happened.

His leadership was not without internal conflict and legal disputes. Tensions rose with former associates like Jeffrey Katzenberg. After Katzenberg resigned, a legal battle occurred regarding his contract. A court eventually ruled in his favor, resulting in a $280 million settlement.

Eisner also hired Michael Ovitz as president. Ovitz stayed for only 14 months. His departure led to a long legal case involving a large severance package. This case lasted nearly ten years and ended in 2006. The court ultimately found that the board had not violated its duties to shareholders.

In his later years, Eisner faced significant pressure from shareholders. Some movies released in the early 2000s, such as *Treasure Planet*, were box-office failures. He also had public disagreements with Steve Jobs of Pixar.

A campaign called "Save Disney" was organized by Roy E. Disney. This group expressed dissatisfaction with Eisner's management style. In March 2004, 43% of shareholders withheld their votes to re-elect him to the board. This was a rare and major event for the company.

Due to this mounting pressure, Eisner announced his departure. He stepped down as CEO in March 2005. He handed his daily duties to Bob Iger. Eisner officially left the company in September 2005.

His early life included growing up in New York and attending Denison University. He graduated in 1964 with a degree in English. After leaving Disney, he created the animated series *Glenn Martin, DDS* in 2009. His career remains a major part of modern media history.

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