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Lessons From Disneyland: Bad Decisions Are Still Decisions

Taub Stephen | August 16, 2005

Less-than-ideal is not illegal. That’s the upshot of the decision rendered by Delaware Chancery Court Chief Judge William B. Chandler III, who found that Walt Disney chief executive officer Michael Eisner and the Disney board of directors properly exercised their fiduciary duty and did not commit waste when the company hired and then fired Michael Ovitz, allowing him to walk away with a $140 million pay package.



Chandler

But, while the judge ruled that the directors acted in good faith and did not breach their fiduciary duty, he also said they did a lousy or...

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