From a shareholder standpoint, it's not a particularly clear pond.
Charles Elson
He's considered savvy and bright. He's a very talented investor. He'll be a tough one to replace.
bright
[The split between the former friends is a sign] that professional responsibility as a director trumps personal relationships,.. A positive change.
change relationships friends responsibility positive personal
That would go an awful long way to restoring confidence
confidence
When you see something like this, it begs asking what failure in their system led to this. Why didn't anyone pick it up?
failure system
No director anywhere from this point on would want to put themselves through this kind of ordeal that the directors at Disney just went through for eight years. Now boards realize they must be more independent and circumspect.
kind independent disney realize
I do not view this as a negative opinion from a corporate governance standpoint. It should not make those who ignore their responsibilities happy nor should it discourage those who seek greater levels of oversight of directors
negative happy opinion corporate view greater
Failure to be independent and failure to be circumspect carries a serious threat of liability.
failure independent threat
The board has to decide whether to sell. Thirty-five percent is a pretty big number. They have to decide if that's the right course or they may have a shareholder revolt.
big pretty revolt
Wow, he's in an awkward position.
awkward
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