The Walt Disney Company - Has Disney lost the Magic?

Disney's Performance in relation to Standards & Poor Index

Period Between

Compounded Annual Growth

1984-1995

S&P 500

 15.40%

Disney

28.10%

1995-2003

S&P 500

8.80%

Disney

 2.80%

INDEPENDENCE Friends and cronies of the CEO are out. Crucial panels like audit should contain no insiders. Cross-directorships are taboo

QUALITY Board meetings should include real, open debate. Directors need to be familiar with managers and conditions in the field

ACCOUNTABILITY Directors ought to hold serious stakes in the company. They should also be prepared to challenge under-performing CEOs