DISNEY Eisner says he's glad not to be chairman

Eisner says he will have more time to advise executives.
LOS ANGELES (AP) -- Walt Disney chief executive Michael Eisner said he is glad to be relieved of the responsibilities of chairing the media company's board and that he did not resist the naming of board member George Mitchell as chairman.
"I didn't come to this arrangement kicking and screaming," Eisner said Thursday during a presentation to investors. "I was happy with this arrangement."
The board of The Walt Disney Co. unanimously named Mitchell chairman on March 3 after shareholders withheld 43 percent of votes cast from Eisner's re-election to the board at Disney's annual meeting in Philadelphia. Shareholders withheld nearly 24 percent of their votes from Mitchell's re-election.
Unprecedented
Before last month's unprecedented show of shareholder concern, Disney had resisted calls to separate the roles of chairman and chief executive.
Thursday, Eisner said he would be spending "a lot more time" advising executives in charge of producing Disney's animated films as well as giving advice to executives at the ailing ABC Television network.
"I never realized how much work being chairman was," Eisner said. "George is taking a lot of weight off my back."
Eisner said his efforts and those of Disney president and chief operating officer Robert Iger have been "diverted" over the past few months.
Although he did not go into specifics, two ex-board members, Stanley Gold and Roy E. Disney, have mounted an aggressive campaign since last fall to oust Eisner. The two have complained about Disney's declining stock price over the past eight years.
Disney is also the subject of an unsolicited takeover bid from cable television giant Comcast Corp.
"There is still noise out there, there will be noise out there as long as my enemies are my enemies," Eisner said.
"But I've never been more confident about the prospects of the company."
The company completed its second fiscal quarter on Wednesday and several financial analysts have predicted the company will report earnings that top expectations.