Former Disney Director Supported Ovitz Firing

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GEORGETOWN, Del. -- A former Walt Disney Co. director testified Monday that retaining ex-Disney president Michael Ovitz in another position at the entertainment giant, instead of firing him as its president in late 1996, would have had a "detrimental' effect on the company and its stock price.

Richard A. Nunis, the ex-chairman of Disney's parks and resorts and a former Disney director, said he told Chief Executive Michael Eisner that he fully supported the decision to fire Ovitz in a phone conversation a few days before it was announced publicly in mid- December 1996. Nunis said that phone conversation was the first time Eisner told him that Ovitz was being terminated.

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Former Disney Director Supported Ovitz Firing

Eisner previously told him that summer in a telephone conversation that Ovitz was having trouble fitting in at Disney and he was thinking about ...

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