Eisner Replacement to Be Named by June

Reuters reports that Walt Disney Co. chairman George Mitchell has told analysts that the company would appoint a new CEO no later than June of this year. After the past few tumultuous years, Michael Eisner is stepping down from the post in September of 2006, having already been stripped of the chairman role following last year’s contentious shareholder’s meeting.

Despite protests from the likes of Roy Disney, Eisner right-hand man Bob Iger is seen as a likely successor, though the board claims to have cast a wide net in the search. Some shareholders are also in favor of upping Iger for the sake of a smooth transition.

Whoever the new CEO turns out to be, he or she will have little hope of wielding influence over the board of directors as well as the company, as Eisner did. Following Eisner’s removal from the chairmanship, the board has voted to officially separate the two offices and make the role of chairman a non-executive one.