Michael Eisner served as Disney CEO for 21 years, beginning in 1984. Many who closely follow corporate Disney divide Eisner's tenure into 2 phases: financial and creative success during the first 10 years followed by increasing failures after that.
Some point to the 1994 death of Disney President and Eisner's righthand man, Frank Wells, as the turning point. Regardless of cause, Eisner's later years seem to have been cursed.
Iger became CEO in 2005. Is this mythical 10-year curse beginning to infect Disney's current CEO Bob Iger?
Consider:
- Iger squashes a February 2015 story questioning Disney's big investment in Shanghai Disneyland.
- Careless words from Iger during an August 2015 earnings call causes Disney stock to plummet 10% in overnight trading amid concerns of declining ESPN subscribers.
- Iger publicly attacks stock analyst Rich Greenfield on Bloomberg TV in December 2015 for predicting Disney stock will fall to $90 per share.
- Disney stock drops below $90 per share on February 10, 2016.
- Even after an additional investment of $800 million, rumors swirl in February 2016 that Iger's pet project, Shanghai Disneyland, continues to suffer cost overruns and project delays.
- For the first time in years, Disney’s May 2016 earnings fail to meet Wall Street expectations.
- Iger lashes out at Democratic Presidential candidate Bernie Sanders after Sanders' May 24 comments that Disneyland employees should be paid a liveable wage.
- Almost at the same instant, Iger is strangely silent when the CEO of Disney's chief amusement park competitor in China throws the gauntlet at Disney, suggesting that someone is muzzling Iger.
- Disney bans an LA Times reporter from the Frozen Live premier, allegedly for reporting Wang Jianlin's comments.
Is Iger beginning to unravel?