Michael Eisner Quits Disney Board of Directors

A recent SEC filing has disclosed that on the same day that Michael Eisner stepped down as CEO of the Walt Disney Co. he also gave up his seat on the company's board of directors.

The filing surprised industry observers, who had expected him to remain on the board at least until Disney's annual meeting next year. He had also been expected to remain as a company consultant. However, the SEC filing noted that Eisner "no longer provides any services" for Disney. His move to cut his ties all at once with the company that he headed for 21 years immediately aroused speculation that he was preparing to mount a non-Disney-related entertainment project quickly. However, he remains one of Disney's largest stockholders.