Ayla
Well-Known Member
The link between Disney+ and resorts is being wasted. It's such a shame. They literally have their target audience staring them in the face and they do - nothing. Pathetic.
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News Chapek FIRED, Iger New CEO
- Thread starter Chef Mickey
- Start date
Odds are it's not just that, they're actually going to involved in all sectors of the company.
TrainsOfDisney
Well-Known Member
Look at their resumes. These guys know a little about media.
Robbiem
Well-Known Member
I can’t see Staggs and Mayer returning to Disney via a buy out unless they have a written guarantee that Iger will leave in 2026 and they will take over. Wasn’t that why Staggs left originally? I can’t see Iger giving up control like that as he becomes a lame duck as soon as the successor is named and I doubt his ego will take that.
Perhaps they could also bring back Michael Eisner to advise Bobby, that would be real fun
Perhaps they could also bring back Michael Eisner to advise Bobby, that would be real fun
Nubs70
Well-Known Member
The responsibility should end up at the confluence of the business units under Sales, General and Administration (SG&A) as a "shared service".
Splash4eva
Well-Known Member
Preparing for the imminent bad earnings call he is going to have and when asked what the plan is he has his answer already w these 2 guys in place…
JoeCamel
Well-Known Member
I don't know but whoever comes next is going to have a tough time getting to long term stability
el_super
Well-Known Member
Staggs and Mayer were supposedly both favorite picks of Iger's. When Staggs was passed over, it was supposedly the board's decision not to make him CEO, preferring instead to have an outsider come in and run the company.
If both are back in contention, it would seem to indicate that the board has deferred a lot of decision making back to Iger with regard to succession. Seems he's firmly in control of the bus at this point.
UNCgolf
Well-Known Member
That's hard to believe since Chapek ended up as the successor -- he obviously wasn't an outsider, and he also always seemed like Iger's choice rather than the board's. It could be argued that the board's choice and Iger's choice were (and are) essentially the same thing, though.
LSLS
Well-Known Member
I'd never heard that. The times says it was Iger and the board together:
Behind the Scenes at Disney as It Purged a Favorite Son (Published 2016)
Thomas Staggs’s departure from the No. 2 position at the media giant leaves no clear successor for Robert Iger as chief executive.
Among other things in my short dig through history, it mentions how this made Iger indispensable to the board now (now being 2016) , and that he still planned to retire in 2018 (LOL).
Sorcerer Mickey
Well-Known Member
el_super
Well-Known Member
You have to go back further than that, back to 2009 when Iger kept pushing for Staggs but the board supposedly told him he didn't have the "operational experience" to run the company. Hence the big switcheroo where the CFO of the company took over Parks and Resorts.
Makes you wonder why they didn't just swap Josh and Christine. That could have been fun.
After the Eisner fiasco, the board was under pressure to demonstrate it's independence from the company leadership, and strongly preferred having an outside candidate. Even when Staggs was eventually promoted to COO, they kept insisting it didn't mean anything. The guy was in training for some 7 years before giving up. Some of that was probably Iger for sure, but a lot of that was the board dragging their feet.
It will be interesting to see if they do the same thing this go around or if they finally give in and hand the job to Staggs.
LSLS
Well-Known Member
OH, so Iger picked him initially, then when time came, basically said "Nah, guess we better extend my time and look outside." But that still doesn't mean it was the board that passed him over. The article straight says Iger says HE and the board made the decision. And I believe by that point Iger had a lot of control of the board.
If I was either gentleman I would not come back unless Iger exited, I mean completely with no chance of coming back. Staggs could be TWDC President and Mayer the CEO. I new Eisner/Wells team. Since they have all the leverage, a minimum 5 year contract. It took time to ruin Disney, it is going to take time to fix this mess.I can’t see Staggs and Mayer returning to Disney via a buy out unless they have a written guarantee that Iger will leave in 2026 and they will take over. Wasn’t that why Staggs left originally? I can’t see Iger giving up control like that as he becomes a lame duck as soon as the successor is named and I doubt his ego will take that.
Perhaps they could also bring back Michael Eisner to advise Bobby, that would be real fun
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lazyboy97o
Well-Known Member
Iger was also leading the effort. There’s no way to spin it that isn’t a failure of leadership. This was a multi-year multi-part effort.
Brer Panther
Well-Known Member
Anything to get Iger out the door quicker, I say.
el_super
Well-Known Member
You're assigning too much power to Iger individually in this process. The article you quoted even mentioned this:
In any event, in the following weeks board discussions about Mr. Staggs’s future intensified. Unknown to Mr. Staggs, some on the board had resisted naming him chief operating officer the year before, but Mr. Iger had prevailed. Those reservations surfaced again periodically, focusing on whether Mr. Staggs was the ideal person to lead Disney over the next 10 years, a period likely to take the company into the uncharted waters of the continuing digital revolution and the post-cable era.
Additionally: Sanford C. Bernstein analyst Todd Juenger summarized “our understanding of what transpired” in his report.
“The board wanted to broaden their search of potential candidates to replace Mr. Iger as CEO when his contract expires in 2018. (Mr. Iger’s contract has already been extended once, from 2016 to 2018). The board was not in a position to provide reassurance to Mr. Staggs that he would get the job. Hence, Mr. Staggs decided it was time to move on. We have no reason to believe there was any specific project failure or decision(s) that triggered this decision.”
Juenger also echoed surprised peers, writing: “Having formerly served ably as CFO, Mr. Staggs was well-liked by investors, and every indication is that he was well-liked within the Disney rank-and-file as well. Which on one hand shows the enormity of this decision for the board. The path of least resistance was clearly to ascend Mr. Staggs to CEO upon Mr. Iger’s retirement. No one would have complained or accused the board of not serving the interests of shareholders.”
Disney Analyst Says Staggs’ Exit Leaves “Unusual Blemish,” Uncertainty as Stock Opens Lower
“This unexpected executive shuffle likely creates stress lines in the image of cool stability that has been the public veneer of Disney under current CEO Bob Iger,” says one Wall Street…
www.hollywoodreporter.com
There was definite indecision in grooming Staggs for seven years, but from Iger inviting him back now (and apparently he accepted it) it doesn't seem that the beef was really on Iger's side. It does make logical sense that someone (or someones) on the board objected to hiring an internal candidate again, since they were sued for hiring Iger before.
Bob Iger Found Disney in 'Worse Shape' Than He Expected, Now 'Overwhelmed and Exhausted' (Bloomberg)
Mounting troubles across Disney's businesses have proven a bigger challenge that the CEO expected when he returned
www.thewrap.com
Seems now Bob Iger sees that Disney is in worse shape than ever and is so overwhelmed and exhausted by this that he's questioning why he even came back.