News: Eisner to step down from Disney this week

Posted at 6:45 PM EDT (2245 GMT)

Sep. 26th, 2005 -- The New York Times is reporting that controversial Disney CEO Michael Eisner will step down at the end of this week. Robert Iger will assume the CEO position this coming Saturday.

Eisner will have no send-off party. He expected to step down as CEO at the expiration of his contract in September 2006. Eisner was critical in the success of the Walt Disney Company in the 80's and 90's, but has recently come under fire in the past few years.

For more information, see: CNN Money.