Disney chief defends paying $140m to fired president
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Lawyers for investors suing Walt Disney Co. questioned whether chief executive Michael Eisner held a formal meeting to tell board members there were no grounds to deny then-president Michael Ovitz $140 million in severance. Shareholders of Disney, the number two US media company, contend directors did not know Ovitz might be entitled to the $140 million if ...
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Michael Ovitz, Walt Disney Co.&#39;s former president, said Friday he was mistaken in his previous testimony that his annual bonus was tied to Disney chief executive Michael Eisner&#39;s bonus.
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The compensation package granted to former Walt Disney Co. president Michael Ovitz was &quot;unreasonable&quot; and not in the interest of the entertainment giant&#39;s shareholders, a compensation expert testified Monday in a shareholder lawsuit.
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Former Walt Disney director Robert AM Stern said the company made a &quot;wise investment&quot; when it fired Michael Ovitz in 1996 and paid his $140 million severance to end his 15-month tenure.
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Michael Ovitz, Walt Disney Co.'s former president, testified Tuesday that he was undercut a number of times by Disney Chief Executive Michael Eisner as he tried to expand the entertainment giant's business.
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GEORGETOWN, Del. - Michael Ovitz, Walt Disney Co.&#39;s former president, said Thursday it was &quot;common knowledge&quot; while he was at Disney that he was receiving payments for selling his stake in the talent agency he co-founded.
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Michael S. Ovitz, the disgraced former president of Walt Disney, last week told his side of the story about his controversial tenure at the company in the mid-1990's.
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Walt Disney Co.'s multimillion-dollar contract with Michael Ovitz was unreasonable and one of the most generous ever, a compensation expert testified on Monday for shareholders suing the board to recoup as much as &#36;200 million.
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The Walt Disney Company&#39;s multimillion-dollar contract with Michael S. Ovitz was unreasonable and one of the most generous ever, a compensation expert testified yesterday.
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Controversial Disney Co. chief executive Michael Eisner has been tough and unflappable defending himself this week against shareholder charges that he wasted 140 million dollars by taking on Michael Ovitz as president in 1995.
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GEORGETOWN, Del.  - Walt Disney Co. should have  fired Michael Ovitz because of his "substantial and repeated  dishonesty," a legal expert testified on Thursday in support of  shareholders suing the Disney board over Ovitz's receipt of a  $140 million severance package.
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GEORGETOWN, Del.  - Walt Disney Co.'s DIS.N  board of directors went on trial on Wednesday, on shareholder  accusations that it merely rubberstamped a decision to hire  Michael Ovitz and allowed him to walk away months later with a  $140 million severance package.
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It was unusual but not unprecedented for the head of the Walt Disney Co. compensation committee to be negotiating an employment contract that his group would eventually approve, former committee chair Irwin Russell testified at the trial surrounding Michael Ovitz's contract and severance.
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Michael Ovitz staunchly defended his efforts as president of the Walt Disney Co. on Thursday in between biting exchanges with the attorney representing shareholders in a $140 million lawsuit.
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Former Walt Disney Co. President Michael Ovitz affirmed that his efforts to improve the company were sabotaged by managers, including Chief Executive Michael Eisner.
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GEORGETOWN, Delaware, Nov 14  - Walt Disney chief executive Michael Eisner may begin testifying as early as Tuesday in defense of his 1995 decision to hire his once best friend as president of the entertainment giant, and then to fire him 15 months
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Former Walt Disney Co. President Michael Ovitz&#39;s $140 million severance was &#39;&#39;unreasonable&#39;&#39; because it exceeded what executives at other companies received, a compensation expert testified Monday in a trial