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Article: EISNER APOLOGIZES FOR PAYOUT TO OVITZ.(BUSINESS)(Statistical Data Included)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- February 26, 1997
CopyrightCOPYRIGHT 1997 Daily News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Dave McNary Daily News Staff Writer
Walt Disney Co. Chairman Michael Eisner, ever vigilant of the entertainment giant's image, apologized Tuesday to shareholders angry over the multimillion-dollar severance package given to departed President Michael Ovitz.
``It was my own mistake,'' Eisner said of the decision to hire Ovitz. ``My intentions were appropriate and, I thought, wise. It just didn't work out that way.''
Eisner and other Disney officials offered the expected, impressive recapping of the fortunes of a company that has seen share price and revenues soar in recent years. They also detailed aggressive expansion plans, ...