In 1984, The Walt Disney Company was far from an industry leader in film, performing poorly overall and relying primarily on its theme parks. At the request of Roy E. Disney, the nephew of Walt Disney, Eisner became chairman and CEO. Frank Wells came in as president and Chief Operating Officer. The partnership between Eisner and Wells was successful, as they initiated major strategic changes and revenues grew from $1.7 billion to $25.3 billion in the first ten years at the helm. Mr. Wells, known for shielding Eisner from organizational politics, died in 1994 in a tragic heli-skiing accident. Two years after Wells death, The Walt Disney Company completed its acquisition of Capital Cities/ABC for $20 billion, securing Disney's place as one of the most important players in the entertainment industry. …show more content…
Mr. Eisner, minus the buffer from Frank Wells, became known for his aggressive micro-management style and failed to maintain important strategic partnerships such as Pixar, under then CEO Steve Jobs, and Miramax founders Bob and Harvey Weinstein, among others. To add to Eisner’s troubles, in 1999 the Walt Disney Company had come under intense scrutiny for its governance. The Board Of Directors was criticized for insider-domination, lack of independence and cronyism. In response, Eisner set out to shore up the company's reputation, meeting with powerful investors and shareholder rights groups, and authorities on corporate governance. He made a variety of changes to Disney's governance structure that included Board nominating and voting procedures. This resulted in a board dominated by independent