Yes. This is a very paranoid and scared administrative team that is acting out whenever they feel just a little more threatened than usual.
Fortunately, if you're in the upper echelon at TWDC, Disney just announced a stock buy back and your retirement and employee stock purchase options are singing.
But below that "protected class" of Disney executive? Pure fear and a corporate culture that is quickly resembling Orwell's 1984.
When Iger took the helm in 2005, The Walt Disney Company (TWDC) was suffering from "Anybody But Eisner" syndrome. Led by Roy Disney and Stanley Gold, the "Save Disney" campaign successfully brought to light Eisner's many excesses. Eisner was forced to resign.
Yet Eisner's greatest excess was to create a corporate culture of paranoia and infighting. Rather than work together as a team, corporate units often were pitted against each other. The enemy was not some other company but rival units within the company itself. (See politics: Washington, D.C.) Eisner's departure did not change the corporate culture. However, the relief in the financial community was so great that Wall Street cut Iger a lot of slack. Iger knew "Wall Street speak" and took steps to repair TWDC's reputation.
In addition, Iger placated Roy Disney, the importance of which Eisner failed to appreciate, believing Roy to be the "idiot nephew" the Disney family thought Roy to be. Regardless of family opinion, Roy's family name, physical similarities to his famous uncle, and shareholdings made him the embodiment of Disney's Old Guard. Alienating Roy was perhaps Eisner's single greatest blunder when it came to corporate politics. Ultimately, it cost Eisner his job. It was a lesson not lost on Iger.
By reconciling with Wall Street and Roy Disney, Iger brought an outward sense of calm to TWDC.
Still, the corporate culture created under Eisner remains. This culture is slowly eating away at the foundations of TWDC. Dissent will not be tolerated. Toe the party line or else.
It's an environment that rewards yes-men and number-crunchers, not creativity. Yet, at its core, TWDC is a company built on creativity. It's what Disney sells. In recent years, Disney has had high profile creative failures. Consequently, corporate Disney's creativity has devolved into buying someone else's.
Unlike the late 1980s and early 1990s when Disney launched a number of successful IPs, in recent years Disney has drawn the water from its creative well without replenishing it. How long can Disney survive on franchises? Are we really going to sail on Disney Cruise Lines vessels 7 and 8? Buy into DVC resorts 13, 14, and 15? Watch Iron Man 4, 5, and 6? Visit Disneyland copies 7 and 8? How long can it last? Is that all corporate Disney has to offer for the future?
TWDC has been living off the idealized reputation of a man dead for almost half-a-century. Public persona aside, Walt Disney was no saint, not by a long shot. However, Walt thought creatively. His leadership inspired a team who believed in his vision. When is corporate Disney once again going to have leadership with a creative vision?
With its existing corporate culture, TWDC is only going to get worse before it gets better and that's the saddest aspect of all for those who love Walt Disney World.
