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

[Tom P.]

So Bob knows we're about to have another pandemic?

 

[LSLS]

I was watching a podcast that was speculating as to why the rush for Bob to leave now. One thought was that there is something in some files that were recently released that may have been not so favorable to Bob and the company would prefer he was gone. The other thought was that this has happened before when Covid hit and closed down everything. Bob had retired about a month or so before and the podcaster was saying this feels very similar. The two could be linked as well. We shall see....... Marie

Eh, disagree there. He retired like that day out of the blue when all that stuff was hitting. If we are going into reasons outside of just wanting to be done, I do think the idea that the summer is not looking good makes a lot of sense. Or real conspiracy, could be this quarter is looking really bad and he wants out before those numbers hit.

 

[wannabeBelle]

Eh, disagree there. He retired like that day out of the blue when all that stuff was hitting. If we are going into reasons outside of just wanting to be done, I do think the idea that the summer is not looking good makes a lot of sense. Or real conspiracy, could be this quarter is looking really bad and he wants out before those numbers hit.

Quite possibly. The basically jist of the discussion was that Bob knows something is up and he wants out like NOW. Marie

 

[djkidkaz]

I think Josh will be great for the parks. He definitely has some level of knowing what the theme park fan community wants. It’s not coincidence that we are getting a villain’s land and a monsters inc door coaster which had been talked about for like 20 years.

 

[Dranth]

I was watching a podcast that was speculating as to why the rush for Bob to leave now. One thought was that there is something in some files that were recently released that may have been not so favorable to Bob and the company would prefer he was gone. The other thought was that this has happened before when Covid hit and closed down everything. Bob had retired about a month or so before and the podcaster was saying this feels very similar. The two could be linked as well. We shall see....... Marie

The only mention in those files according to the summary on google was from a disgruntled investor who, in exchange for "information", wanted a favor from the DoJ involving going after Disney to settle a grudge (100% wild guess, but I am going with Peltz or Perlmutter). Other than that, nothing.

Who knows though, there certainly are a lot of people who protested and denied a good bit that turned out to be full of it and even more that few would have pegged as being in there directly and yet they were.

Anyway, just my guess, but I think a big part of this is him looking at the politics you have to play as a business to avoid a target on your back and just didn't want to deal with it. Combine that with the increasing risk of a recession, and he likely thought it was just a good time to get out.

 

[Disney Irish]

The only mention in those files according to the summary on google was from a disgruntled investor who, in exchange for "information", wanted a favor from the DoJ involving going after Disney to settle a grudge (100% wild guess, but I am going with Peltz). Other than that, nothing.

Who knows though, there certainly are a lot of people who protested and denied a good bit that turned out to be full of it and even more no one would have pegged as being in there directly and yet they were.

Anyway, just my guess, but I think a big part of this is him looking at the politics you have to play as a business to avoid a target on your back and just didn't want to deal with it. Combine that with the increasing risk of a recession, and he likely thought it was just a good time to get out.

To add to that, if it was really about all that he would be leaving immediately and not next month, and then wouldn't be sticking around in an advisory role for the next 10 months.

 

[DCBaker]

A note from Bob Iger to D23 Members:

 

[Andrew C]

Combine that with the increasing risk of a recession

US recession odds have fallen over the last 4 months. And are way off April's high.

 

[Andrew C]

A note from Bob Iger to D23 Members:

View attachment 906672

A nice feel-good letter.

 

[DCBaker]

Bob Iger's farewell message:

 

[Vegas Disney Fan]

Quite possibly. The basically jist of the discussion was that Bob knows something is up and he wants out like NOW. Marie

I still think he regretted his decision to return starting on day 2, day 1 was all fun and press conferences, day 2 was realizing what bad shape the company was in, every day since then has likely been one headache after another, all while daydreaming about his yacht and his hundreds of millions he could be enjoying.

I think it’s possible he’s jumping ship because he knows bad days are ahead, I think it’s equally as likely he jumped ship to simply go enjoy his golden years though.

 

[Disney Analyst]

I still think he regretted his decision to return starting on day 2, day 1 was all fun and press conferences, day 2 was realizing what bad shape the company was in, every day since then has likely been one headache after another, all while daydreaming about his yacht and his hundreds of millions he could be enjoying.

I think it’s possible he’s jumping ship because he knows bad days are ahead, I think it’s equally as likely he jumped ship to simply go enjoy his golden years though.

But he was always meant to leave this year? This feels exactly in line with what was promised. The board independently vetted and hired a new CEO, and were ready to time it with the AGM. A clean handoff.

As for “fleeing ahead of bad times”, Disney’s challenges aren’t a secret, especially to a board that just completed a formal CEO search process.

Based on reports, Iger felt like he’d made a grave mistake with his legacy the moment he abruptly retired the first time, especially as the Chapek selection quickly became a clear mistake, which was directly Iger’s doing.

Returning, stabilizing things, and handing off as planned I’m sure makes him feel like his legacy is far better protected than last time. I’m sure he’s leaving feeling quite comfortable, and any failure from here (in his mind) is on the committee who chose the new CEO, not his (unlike last time).

 

[TrainsOfDisney]

Park specific - Iger handed off some huge projects that he greenlit that Josh may or may not have agreed with and also may not be the best choices depending on how the rest of the year plays out.

At some point we could realistically see a major delay with Villians land - but they don’t have to make that decision yet.

 

[Vegas Disney Fan]

Based on reports, Iger felt like he’d made a grave mistake with his legacy the moment he abruptly retired the first time, especially as the Chapek selection quickly became a clear mistake, which was directly Iger’s doing.

Returning, stabilizing things, and handing off as planned I’m sure makes him feel like his legacy is far better protected than last time. I’m sure he’s leaving feeling quite comfortable, and any failure from here (in his mind) is on the committee who chose the new CEO, not his (unlike last time).

If that was goal I think he made a serious miscalculation, when he left in 2019 I’d have placed him second only to Walt, I thought he’d improved all the parks, set up the company for future success with Lucas film, Pixar, Marvel, D+, etc and the brand was universally loved. His legacy was golden.

After his return everything we despised Chapek for is now associated with him also, bad parks management, loss of value, Star Wars failing, Marvel failing, Pixar failing, nickel and diming at every turn… his new legacy is mixed at best, horrible at worst.

Most my friends are huge Disney fans, that happens when you spend 30-50 days a year in the parks for over a decade, and 5 years ago we all jumped for joy at his return, very few people still have a good opinion of him now though. I think his legacy will forever be tarnished by the last 5 years.

 

[HauntedPirate]

After his return everything we despised Chapek for is now associated with him also, bad parks management, loss of value, Star Wars failing, Marvel failing, Pixar failing, nickel and diming at every turn… his new legacy is mixed at best, horrible at worst.

Maybe because most of the things Chapek did were generated and at least given approval under Iger? He didn't just stumble into the CEO position and decide on day 3 - Let's charge for FastPass!

 

[Disney Irish]

Park specific - Iger handed off some huge projects that he greenlit that Josh may or may not have agreed with and also may not be the best choices depending on how the rest of the year plays out.

At some point we could realistically see a major delay with Villians land - but they don’t have to make that decision yet.

Josh likely had huge input on all those projects being the Experiences Chairman. So it would be unlikely in my opinion that he disagrees with any of them at this point.

 

[Vegas Disney Fan]

Maybe because most of the things Chapek did were generated and at least given approval under Iger? He didn't just stumble into the CEO position and decide on day 3 - Let's charge for FastPass!

In 2026 I 100% agree with this, in 2021 I assigned 100% of that blame on Chapek though. Call me naive but until Iger came back and stayed the horrible course I truly thought this was all on Chapek and he’d simply used Covid, and the parks long closures, as cover to fundamentally change the parks.

 

[HauntedPirate]

In 2026 I 100% agree with this, in 2021 I assigned 100% of that blame on Chapek though. Call me naive but until Iger came back and stayed the horrible course I truly thought this was all on Chapek and he’d simply used Covid, and the parks long closures, as cover to fundamentally change the parks.

Oh, he absolutely used Covid as a cover story. But the Bob's were both complicit in the changes unleashed upon the guest wallet. Covid simply supplied them with an alibi. "See, with this Covid thing, we had to ... we were forced to ... for guest safety."

 

[Stupido]

Bob Iger truly looks like Mr. Roper in that video, which tracks how he's been treating the parks lately.

 

[Disney Analyst]

If that was goal I think he made a serious miscalculation, when he left in 2019 I’d have placed him second only to Walt, I thought he’d improved all the parks, set up the company for future success with Lucas film, Pixar, Marvel, D+, etc and the brand was universally loved. His legacy was golden.

After his return everything we despised Chapek for is now associated with him also, bad parks management, loss of value, Star Wars failing, Marvel failing, Pixar failing, nickel and diming at every turn… his new legacy is mixed at best, horrible at worst.

Most my friends are huge Disney fans, that happens when you spend 30-50 days a year in the parks for over a decade, and 5 years ago we all jumped for joy at his return, very few people still have a good opinion of him now though. I think his legacy will forever be tarnished by the last 5 years.

I just don't see it in the big picture, when people look at his legacy 20 years from now. Your feelings and opinions are valid, but feel like macro issues when one zooms out. A lot of this stuff will be washed away as the company further changes, new decisions are made, and distance/time grows fondness.

I look at Eisner. He was basically ousted in disgrace at the time, shunned by many, seen as a once great CEO who had fallen hard, yet time has made many soften their views on him and his legacy.

I suspect if Iger had never returned to try and at least create the facade of cleaning up his mistake of Chapek, setting the company back up on a path to success under a new leader, his legacy would be greatly tarnished 20 years from now. I think what has happened from return to now has likely made him feel more confident.

Again time will tell, but if I look at this from his perspective, I am sure he's leaving feeling much better now than before.