Disney CEO to Face Shareholders in Calif.

LOS ANGELES (AP) – After years of bouncing around the country to hold shareholders meetings, The Walt Disney Co. is holding its first annual gathering under the leadership of CEO Robert Iger in the shadow of its flagship theme park, Disneyland. The meeting, held at the Anaheim Pond, is the first time Iger has faced shareholders as chief executive since taking over last October from longtime CEO Michael Eisner. The gathering should be a routine affair, a calm counterpoint to the tumultuous period since a 2004 shareholders revolt in Philadelphia that marked the beginning of the end of Eisner's 21-year reign. Previous meetings have been held in Fort Worth, Texas; Hartford, Conn.; Denver, Minneapolis and Chicago – all places where Disney has had business interests. "It may be appropriate to be coming home to Anaheim for the meeting," said Janna Sampson, director of portfolio management for Oakbrook Investments, which holds Disney shares. "He's trying to get the company back to its roots and he is mending fences" with some people alienated by Eisner, Sampson said. One of those people is former board member Roy E. Disney, who resigned in 2003 to campaign for Eisner's ouster. Roy Disney ended his campaign after Iger's ascension and was named a director emeritus after Iger reached out to him. Disney was scheduled to attend Friday's meeting. Disney still faces challenges, including the crucial choice of a new company chairman. Current Chairman George Mitchell had said 2005 would be his last year but agreed to seek re-election to the board Friday for one more yearlong term to smooth Iger's transition and to help lead the search for his replacement. "They do have to resolve some issues eventually, including who's going to be the chairman and for how long," media analyst Harold Vogel said. "There has to be some kind of indication of what their long-range plans might be with regard to international expansion of theme parks."