Academic

Roy Disney, RIP

By Gordon Smith, Christine, Hurt, Vic Fleischer, Fred Tung, Lisa Fairfax, David Zaring

Roy Disney died today at the age of 79.

Walt's nephew will likely be best remembered (around these parts, at least) as a full-time dissident director.  Just a few years ago, he led a revolt against Michael Eisner that culminated in a 45% withhold vote against Eisner's candidacy for re-election to the board.  This result shows Roy's relative power and influence - the Disney election played a significant role in the adoption of a majority voting standard for director elections at many companies.  It also demonstrates the relative lack of power of shareholders to influence corporate governance directly - Eisner was re-elected, and a 99% withhold vote wouldn't have altered that outcome.

Over the next few weeks, I look forward to sharing my thoughts with you about corporate governance, the role of law in director decision-making, and whatever else strikes my fancy.  As a born-and-bred New Orleanian, I am also excited to serve as a cyber-tour guide and resource for those of you coming down here in a few weeks for AALS.

Thanks to Gordon, Christine, and the rest of the gang for having me!

Full post as published by Conglomerate on December 16, 2009 (boomark / email).