Mitchell to weigh Comcast takeover Former senator on Disney board

AUGUSTA – Former U.S. Sen. George Mitchell will play an important role in Disney’s decision on a takeover bid by Comcast Corp., Maine observers say.

Mitchell, a Waterville native, has been a member of The Walt Disney Co.’s board of directors for a decade. Last month he was re-elected the board’s presiding director, a position that carries greater responsibility and more oversight of the company’s operations.

“It’s going to be very interesting to see how this plays out,” said Al Souza, a management professor at Thomas College. “I think Mitchell is highly regarded and evenhanded.”

Mitchell has said he and the rest of the board will carefully consider Comcast’s unsolicited $54 billion bid.

“I believe that I can speak for all the members of the board in saying that we are determined to conduct the most thorough, searching and fair analysis consistent with the interests of our shareholders, and to respond in an appropriate manner,” Mitchell said Thursday at a Disney investor conference in Orlando, Fla.

Attorney Harold Pachios said Mitchell has excelled in the business world after careers in law and politics.

“He has an outstanding mind for business,” Pachios said.

Mitchell, 70, is also a director of FedEx Corp., Staples Inc. and Starwood Hotels & Resorts. Since he left the U.S. Senate in 1994, he has also served on the boards of directors at Xerox Corp., UnumProvident Corp., Casella Waste Systems Inc., and Unilever.

Ten other directors sit on the Disney board, including Michael Eisner, 61, the company’s chairman and chief executive officer. The directors were elected by Disney’s shareholders.

Mitchell owns 5,100 shares of Disney stock and has an additional 14,063 shares that will be awarded “following termination of service” from the board, according to the company’s proxy report.

Shares of Disney rose 40 cents Thursday to close at $28 on the New York Stock Exchange.