Mitchell to Remain on Disney Board Through 2006

Dec 5, 2005  •  Post A Comment

The Walt Disney Co.’s non-executive chairman, George Mitchell, will stay in the position until the end of 2006 to allow more time to find his replacement, the media giant said late Friday.

Mr. Mitchell had been expected to step down early next year during the annual board meeting, usually held in March. However, Disney said the board asked Mr. Mitchell to stay on to give the board an “appropriate amount of time to work closely together and carefully deliberate in the selection of Disney’s next chairman.”

Separately, Disney’s board elected two more independent directors, bringing the number of independent directors on the board to 11. The new members are John Pepper, former chairman and CEO of Procter & Gamble, and Orin Smith, former president and CEO of Starbucks.