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fileu
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R270 - Session 9 Article 1 Euro Disneyland – J. Stewart Black and Hal B. Gregersen Overview · January 1993 – Euro Disneyland chairman Robert Fitzpatrick resigns, one year after the grand opening – replaced by Philippe Bourguignon (formerly the SVP of real estate) · This represented the end of US management of Euro Disneyland and it was hoped that leadership by the Frenchman would improve public relations, which had been very low (Disney had even had to compromise its “squeaky clean” image and no alcohol policy, conceding to allow wine at all major restaurants) · Attendance was lower than expected in the first year (~10 million instead of 11 million) so prices were cut · Second phase of development had been scheduled for September 1993 but currently did not have a financing source Disney History · Disney began and flourished due to the personal touches of Walt Disney himself (he was even the voice of Mickey). Disney Land opened in CA in 1955 · After Walt’s death in 1966 the company declined – blamed on 2 particular CEO’s · Walker (CEO 1976-83) was critical of others and made wimpy decisions, resulting in unsuccessful, bland movies and cancellation of the Walt Disney TV show · Miller (CEO 1983-84) had one hit movie (Splash) during his tenure but many bombs; profit fell steadily and stock fell from $84 in April 1983 to $48 in Feb. 1984. Some said Miller was only there because he had married the boss’s daughter · Roy Disney (nephew of Walt) quit Disney in 1977 since he was snubbed for CEO; in 1984 he resigned from the board, with the result that the company was “raided, almost dismantled, greenmailed, raided again, and sued left and right” [I have no idea what these words mean – but the main point is that it resulted in the end in better management]… Roy then convinced the board to bring in Michael Eisner as CEO, saying someone “a little crazy” was exactly what was needed.
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Paper Information
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Title: fileu
Words: 1325
Rating: None
Pages: 5.3
submitted by: louiscolford
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