News The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as CEO Through 2026

[lazyboy97o]

I'm no big fan of Iger, and I'll be glad to see him replaced -- but as @ToTBellHop alluded above, people shouldn't just assume a new CEO is going to be an improvement. He/she could be much worse.

It would not be at all surprising for a new CEO to come in, look at the parks, and think they could slash spending there to increase profits and boost the stock. Reduce staffing, reduce operational/maintenance budgets, reduce food quality/portion sizes, stop capital spending, and so on.

It’s amazing how Chapek has just been memory-holed. I’m sort of surprised the reactionary’s hasn’t led to Chapek nostalgia.

 

[HauntedPirate]

It’s amazing how Chapek has just been memory-holed. I’m sort of surprised the reactionary’s hasn’t led to Chapek nostalgia.

Who?

 

[TalkingHead]

It’s amazing how Chapek has just been memory-holed. I’m sort of surprised the reactionary’s hasn’t led to Chapek nostalgia.

You mean the guy who was Iger in a Halloween mask? Who cares, the new Iger will be same thing. What’s been memory-holed is how ambitious the company used to be before Bob.

 

[HauntedPirate]

What’s been memory-holed is how ambitious the company used to be before Bob.

#Truth

 

[Stripes]

You mean the guy who was Iger in a Halloween mask? Who cares, the new Iger will be same thing. What’s been memory-holed is how ambitious the company used to be before Bob.

The company‘s ambition under Iger is a lot higher than it was during the post-Wells Eisner era.

Walt Disney Studios Paris, DCA 1.0, demolishing Horizons for Mission: Space, 20,000 Leagues closed without a replacement for over a decade, DAK was highly underdeveloped when it opened, nearly all new attractions were using off the shelf ride systems that required zero innovation…

The list goes on.

 

[MisterPenguin]

The guy who once considered selling the parks is publicly proclaiming that among all of Disney's profit centers, the parks are the most profitable and the place in which investment would result in the most profit.

That's why the $17B and $60B numbers were thrown around. To tell Wall Street that Disney will be even more profitable if it doubled down on park investments.

Wall Street, however, doesn't care if it's not dividends and stock buybacks NOW.

But the Iger that is the Iger now, is all in on the parks (now that streaming is no longer running at a loss).

 

[Vegas Disney Fan]

It’s amazing how Chapek has just been memory-holed. I’m sort of surprised the reactionary’s hasn’t led to Chapek nostalgia.

I was so excited when Chapek got fired and they brought Iger brought back… only to be extremely disappointed that Iger 2.0 became Chapek 2.0.

It’s been nearly 2 years now and I’m not sure anything’s changed from how Chapek was running the show.

I’ll never have Chapek nostalgia, but it’s sad how Iger 2.0 has felt more like Chapek than like Iger 1.0. His legacy is tarnished, coming back was the worst decision he ever made.

 

[coffeefan]

When Iger got back Marvel started making better moves again. Chapek apologists are doing too much now.

 

[UNCgolf]

The company‘s ambition under Iger is a lot higher than it was during the post-Wells Eisner era.

Walt Disney Studios Paris, DCA 1.0, demolishing Horizons for Mission: Space, 20,000 Leagues closed without a replacement for over a decade, DAK was highly underdeveloped when it opened, nearly all new attractions were using off the shelf ride systems that required zero innovation…

The list goes on.

Yes and no -- the company would have never even considered building something like DAK under Iger, so I think that's still a nod towards higher ambition for Eisner. We also wouldn't have amazing resorts like Animal Kingdom Lodge; Iger's Disney would have never built something like that either.

I think Eisner, up until maybe the very end, was always more ambitious regarding the parks than Iger has ever been. He just got to a point where the execution failed because he tried to have everything done too cheaply.

Also, you're thinking about Iger now, as opposed to Iger when he first took over the job. This version of Iger is more on board with parks spending than the Iger who took over from Eisner was. The parks were stagnant under Iger for like a decade.

 

[lazyboy97o]

Yes and no -- the company would have never even considered building something like DAK under Iger, so I think that's still a nod towards higher ambition for Eisner. We also wouldn't have amazing resorts like Animal Kingdom Lodge if not for Eisner; Iger's Disney would have never built something like that either.

I think Eisner, up until maybe the very end, was always more ambitious regarding the parks than Iger has ever been. He just got to a point where the execution failed because he tried to have everything done too cheaply.

Also, you're thinking about Iger now, as opposed to Iger when he first took over the job. This version of Iger is more on board with parks spending than the Iger who took over from Eisner was. The parks were stagnant under Iger for like a decade.

Even spending more isn’t really ambitious. Even with acknowledging that the parks are a cash cow, he still doesn’t see them as anything more than a vehicle for content developed elsewhere. So much money but Walt Disney Imagineering is largely hamstrung playing the same few songs that qualify as worthwhile franchises.

 

[HauntedPirate]

The company‘s ambition under Iger is a lot higher than it was during the post-Wells Eisner era.

Walt Disney Studios Paris, DCA 1.0, demolishing Horizons for Mission: Space, 20,000 Leagues closed without a replacement for over a decade, DAK was highly underdeveloped when it opened, nearly all new attractions were using off the shelf ride systems that required zero innovation…

The list goes on.

I'm an ardent fan of the Eisner/Wells era, but I believe most of what you listed are things which were started or approved while Frank was still alive. It's entirely possible that budgets were cut after he died and what we got was a shell of what was originally planned, I'm not as familiar with the post-Wells era at the moment (but I'm working on it... slowly).

 

[UNCgolf]

Josh came out on stage and basically said that everything they showed at D23 was happening.

If they slash these projects then why should anyone care about anything Disney has to say anymore?

They'd be far from the first company to change or cancel existing plans due to a change in leadership.

 

[Fido Chuckwagon]

November 2022 - Bob Iger returns as CEO, promises to find new CEO before end of 2 year contract

Early 2023 - Alleged group formed to look into CEO succession planning

July 2023 - Bob Iger's 2-year contract extended another 2 years, to the end of 2026

Late 2024 - Alleged CEO succession group announces next CEO will be announced in early 2026

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Early 2026 - Alleged CEO succession group announces it needs more time to find "the right candidate" and extends Bob Iger another 2 years.

Late 2028, Bob Chapek announced as next CEO.

 

[TalkingHead]

The company‘s ambition under Iger is a lot higher than it was during the post-Wells Eisner era.

Walt Disney Studios Paris, DCA 1.0, demolishing Horizons for Mission: Space, 20,000 Leagues closed without a replacement for over a decade, DAK was highly underdeveloped when it opened, nearly all new attractions were using off the shelf ride systems that required zero innovation…

The list goes on.

Nonsense. Eisner in the 90s was responsible for hiring major architects for WDW, Burbank, etc., Miramax, inventive E-tickets, DAK, the list goes on and on.

 

[Serpico Jones]

 

[Dranth]

I was so excited when Chapek got fired and they brought Iger brought back… only to be extremely disappointed that Iger 2.0 became Chapek 2.0.

It’s been nearly 2 years now and I’m not sure anything’s changed from how Chapek was running the show.

I’ll never have Chapek nostalgia, but it’s sad how Iger 2.0 has felt more like Chapek than like Iger 1.0. His legacy is tarnished, coming back was the worst decision he ever made.

I would say a lot has changed.

The company was reorganized and reverted back to the model it was very successful with before Chapek. Imagineering was rebuilt after years of forced retirements and fed-up employees fleeing an unworkable situation. The fight with the state was ended. The movie studios have turned around. Streaming went from losing over a billion a quarter to breaking even. We went from no plans for any park to plans already in motion for AK as well as upcoming builds for Monsters in HS, and an actual MK expansion (Villains).

All in less than two years.

Sure, not everything has been good and there are plenty of negatives we can all point at (campgrounds DVC, pricing, placement of new Cars ride, etc.), but I don't think Iger has changed much since he left. He had already changed his tune on the parks by that point and was dumping significant money into them. Same as he is doing now. The bigger difference to me is within the fan base itself. People are just more fed up, less understanding, less tolerant, increasingly bitter and far less willing to give anything or anyone the benefit of the doubt.

 

[HauntedPirate]

Late 2028, Bob Chapek announced as next CEO.

"In our search, we found no one more qualified to take over from Bob Iger. Bob's done the job before, we don't have to learn a new name, and we're confident that he will do a better job of being the bad guy this time. If not, we have Willow on speed dial, since she'll probably be sick of Bob's putzing around their mansion and yacht within the next 6-8 months."

 

[Dranth]

Nonsense. Eisner in the 90s was responsible for hiring major architects for WDW, Burbank, etc., Miramax, inventive E-tickets, DAK, the list goes on and on.

Eisner was terrible post Wells, which includes the back half the 90s. Sure, there were bright spots here and there but he was just never the same and it showed. That doesn't take away from what he accomplished before then, but those last 10 years were not good.

 

[JoeCamel]

Couldn't be that guy. I bet he doesn't even own a sweater......

 

[ERED]

Is it fair to say the times the company has done best is when it is dual headed with one being a creative mind and the othe being finance minded? Walt & Roy? Michael & Frank?