I refuse to accept the notion that there is nobody out there who can lead Disney, or that it will take an extraordinary amount of time to find him/her.
It comes down to this... If there truly are board members that want Michael out now, or will push for it in November, then they most likely are working behind the scenes to find a successor.
If so, and if they go about their search in a responsible manner, a replacement will be found.
If its just not possible to direct any kind of discreet search with Eisner still there, then yes, there will have to be an "interim" period of possibly several months.
But the company is already going in the wrong direction, and while I don't quite subscribe to the "blind chimp" theory, I do think it can move ahead for a few months and be no worse off.
My opinion is that this whole situation will play itself out within 6 months, possibly sooner, and a year at the most. Either Eisner will have turned things around sufficiently to get the stockholders/board off his back, or he will be gone. (takeover will again become a possibility as well if the stock continues to under-perform)
Its one thing to debate philosophy and long-term strategy, but a lot of people are losing a lot of money on this company, and clearly a significant portion of the responsibility falls on mgmt. I don't see how that can go on too much longer.
SOMETHING will happen.