I'm writing this first letter to you during the holiday season, a period of reflection, celebration and gratitude, and I cannot help but think how appropriate the timing is. I certainly have a lot to be thankful for since stepping into my new role a few months ago. I'm both humbled and grateful to be part of a company that is so meaningful to so many. Above all else, I am thankful for the tremendous creativity, commitment and hard work of the men and women who make up The Walt Disney Company, one of the most loved and respected companies in the world. In fiscal year 2005, the Disney team reinforced its position as an industry leader in quality, creativity and innovation, while generating double-digit earnings growth for our shareholders.
This is noteworthy, because it was also a year of transition. After more than two decades at the helm of this organization, Michael Eisner stepped down as chief executive officer on October 1. Under his leadership, The Walt Disney Company expanded from a movie studio and a small theme park business into a multinational entertainment enterprise, reaching hundreds of millions of people worldwide and providing them with incredible entertainment experiences, wonderful sports television, and high quality news and information. He left us a strong platform on which to build the next generation of Disney success, and I am personally grateful for his wide-ranging contributions. I, along with the rest of the Company, also wish him well on his new adventures, which I am sure will be successful, fulfilling and noteworthy.
Creativity continues to be the essence of Disney, even as our businesses expand across borders and media platforms. It is the foundation for almost everything we do, the source of our strength and our success, and the fuel that will power us into the future. Fostering and encouraging that creativity – from movies to television, from animation to live-action, from theme parks to consumer products to our online business – is our top priority. As digital technology platforms proliferate, their ability to penetrate markets and attract consumers is reliant upon the kind of branded, in-demand, high quality, creative content for which Disney has always been known.
