Michael Eisner quits

Michael Eisner has announced that he's quitting as CEO of Disney when his contract runs out in 2006.

Eisner recently told Walt Disney directors that company president Robert Iger would be a good successor, the Los Angeles Times reported. Iger, whose contract expires in September 2005, has recently met with investors and executives and told the Times he would like the top job.

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(via The Disney Blog)