Staggs resigns

[Omnispace]

He was informed of the decision on Friday. I believe he was asked to stay on through Shanghai's opening, but I have conflicting info on that so please don't quote me unless you quote the entire point. Still trying to find out if he cleared the office out over the weekend. My guess is he did.

Wall Street would love it. But the BoD wouldn't. He will be gone finally in 2 1/4 years ... just wonder how much more destruction he'll leave in his wake.

This last part of your statement really caught my attention. After a while one just wishes Iger would leave well enough alone. Not that change and growth are not desirable, but so may of the theme park projects he has initiated have had delays, cost overruns, and are for the most part ill-conceived. And that doesn't include the cost cutting and depreciation of the guest experience. Staggs fits nicely into the picture in that as the manager of Strategic Planning, he was at the center of trying to fix something that really wasn't broken to begin with.

One can only hope that at the end of all this, (and hopefully the end for Iger comes sooner than two+ years), the BoD is savvy enough to replace these positions with people who either have an innate creative ability, or have the ability to understand the assets of the Disney Company to a greater extent than to simply exploit them. The turnaround in Cedar Fair's approach to managing Knott's demonstrates that if you get the right person in charge, good things can once again begin to happen.

 

[WildcatDen]

Speaking of kling ons, I need to clean the cats litter box. . .
Something not exclusive to the Ohio Valley. . . But now that we are talking O- H - I - O how about Laffley?

 

[rfc0001]

My vote for next CEO of Disney is for recently added board member Jack Dorsey (founder and CEO of Square and Twitter).

 

[choco choco]

Since I'm not a guy who really understands the executive world, can someone explain: just because a worker isn't offered the promotion he wants, why does he have to leave the company?

Rasulo lobbies for CEO and doesn't get it. He can't simply stay at his current position? Staggs lobbies for the CEO and he too doesn't get it. He's not happy (or allowed?) to continue on with his million dollar salary and the power of being the number two at the world's most powerful media company?

 

[Mike S]

Since I'm not a guy who really understands the executive world, can someone explain: just because a worker isn't offered the promotion he wants, why does he have to leave the company?

Rasulo lobbies for CEO and doesn't get it. He can't simply stay at his current position? Staggs lobbies for the CEO and he too doesn't get it. He's not happy (or allowed?) to continue on with his million dollar salary and the power of being the number two at the world's most powerful media company?

It's not that they're not allowed to stay. It's more like throwing a temper tantrum for not getting what they want.

 

[alphac2005]

You know what kind of CEO we need? One that's not afraid to admit mistakes and take some personal accountability.

Former CEO of Nintendo, Satoru Iwata (R.I.P), took a 50% pay cut when things weren't going so well for the purpose of avoiding layoffs.

As you well know, Japanese corporate culture puts us above me and there is still such high regard for honor in the society. Granted many of these salarymen are after hours drunks with a fixation on some really crazy kinky stuff, but society continues to be focused on a better good and honor. American corporate culture is infested with hubris. While VW has tainted some German perceptions, after the economic crash, firms did all types of manuevers to keep employees and to help prop up the economy in a global disaster. The gold standard for US business is still Jack Welch who would fire the bottom 10% of all GE employes based on an in-house metric system riddled with flaws and many of those employees performing well in their circumstances. He did this with pride and GE would buy other businesses and take a hatchet to the employee ranks as well. Disgusting. It's good too see that the current CEO Jeffrey Immelt has a way different outlook on his employees and how to trest them. Gone are Jack's metrics evaluation.

 

[lazyboy97o]

My vote for next CEO of Disney is for recently added board member Jack Dorsey (founder and CEO of Square and Twitter).

A lot of people here don't like how Disney runs when it is profitable.

 

[alphac2005]

My vote for next CEO of Disney is for recently added board member Jack Dorsey (founder and CEO of Square and Twitter).

Dorsey needs to get those companies profitable to begin with.

 

[Goofyernmost]

It's not that they're not allowed to stay. It's more like throwing a temper tantrum for not getting what they want.

Yes, it is that they are not allowed to stay. The announcements that they are quitting or moving on to pursue other possibilities is just corporate talk for we are not going to tell anyone that you have been fired so you can save face and get yet another million dollar job or we can then offer you a separation package that amounts to more money then most people will earn in their entire life. It is a closed up world in the high towers. They are ruthless in what they do, but, they always spin things to protect each other in one way or the other.

 

[rfc0001]

Since I'm not a guy who really understands the executive world, can someone explain: just because a worker isn't offered the promotion he wants, why does he have to leave the company?

Rasulo lobbies for CEO and doesn't get it. He can't simply stay at his current position? Staggs lobbies for the CEO and he too doesn't get it. He's not happy (or allowed?) to continue on with his million dollar salary and the power of being the number two at the world's most powerful media company?

If you are a COO, you are trying to be CEO, and if you are told by your board and CEO they don't see a future for you, it's pretty much end of the road for you. You can call it "deciding" to leave to pursue other options but you're effectively being pushed out. Either way, it is in your best interest to leave.

A lot of people here don't like how Disney runs when it is profitable.

Dorsey needs to get those companies profitable to begin with.

Valid points, although would still love to have someone with his vision and passion.

 

[GoofGoof]

Yes, it is that they are not allowed to stay. The announcements that they are quitting or moving on to pursue other possibilities is just corporate talk for we are not going to tell anyone that you have been fired so you can save face and get yet another million dollar job or we can then offer you a separation package that amounts to more money then most people will earn in their entire life. It is a closed up world in the high towers. They are ruthless in what they do, but, they always spin things to protect each other in one way or the other.

Yep. They aren't allowed to stay. Their only choice really is 1) resign and take a crap load of money or 2) we will fire you and you'll get less cash. They almost always resign. Those roles need to be freed up for the next man up.

 

[the.dreamfinder]

Dorsey needs to get those companies profitable to begin with.

Also, Jack Dorsey is no Steve Jobs.

 

[AnotherDayAnotherDollar]

This suggests to me that not only will Iger extend and stay CEO longer, but he will want to oversee the major projects Disney has going on and possibly another major acquisition or two for his legacy.

 

[GhostHost1000]

This suggests to me that not only will Iger extend and stay CEO longer, but he will want to oversee the major projects Disney has going on and possibly another major acquisition or two for his legacy.

Well at the rate Disney actually finishes projects he may need to stay on about 10 more years if he wants to oversee them to completion

 

[ford91exploder]

Also, Jack Dorsey is no Steve Jobs.

Well Dorsey fits right in there with the use of social media to promote a false image of the company, Especially with Twitter's Orwellian 'Trust and Safety' initiative which basically bans users who do not share Twitter's management view of the world but makes some really interesting omissions like allowing accounts related to ISIS to stay online....

And of course I'd like to have someone in charge who can actually MAKE money unlike Dorsey

 

[ford91exploder]

Yep. They aren't allowed to stay. Their only choice really is 1) resign and take a crap load of money or 2) we will fire you and you'll get less cash. They almost always resign. Those roles need to be freed up for the next man up.

What needs to happen is a return to accountability for the C-suite and a good start would be laws which tie executive severance packages to those given to 'regular' employees.

 

[HauntedMansionFLA]

Well Dorsey fits right in there with the use of social media to promote a false image of the company, Especially with Twitter's Orwellian 'Trust and Safety' initiative which basically bans users who do not share Twitter's management view of the world but makes some really interesting omissions like allowing accounts related to ISIS to stay online....

And of course I'd like to have someone in charge who can actually MAKE money unlike Dorsey

With ESPN having it problems, wouldn't you start to concentrate on the parks since they make $$$.

 

[ford91exploder]

Yes, it is that they are not allowed to stay. The announcements that they are quitting or moving on to pursue other possibilities is just corporate talk for we are not going to tell anyone that you have been fired so you can save face and get yet another million dollar job or we can then offer you a separation package that amounts to more money then most people will earn in their entire life. It is a closed up world in the high towers. They are ruthless in what they do, but, they always spin things to protect each other in one way or the other.

And it needs to STOP.

 

[ford91exploder]

With ESPN having it problems, wouldn't you start to concentrate on the parks since they make $$$.

I would agree as the parks are the biggest driver of the Disney mythology and BRAND. - My inclination if I were suddenly made CEO of Disney is I would restore the cuts made over the past 5 years and accelerate construction of new lands, I'd probably close DHS if it meant I could get the new attractions online in 1 year instead of 5, I'd also immediately restructure ESPN and move it to an online platform and restructure the cable deals and re-open negotiations on contracts with the sports leagues. Basically take all the pain at once to build a platform for the future.

Perhaps most importantly refocus on guests and CM's and once again make Disney jobs the best in Central FL not the current state of abusing CP'ers and ICP'ers make the CP's once again REAL internships.

 

[rael ramone]

You were doing well until #4, which makes you sound like a nutjob.

Reading @pheneix 's post prompted me to include #4.

That said, unless someone has a 51% controlling interest in a business, if you go public, you are on sale.
(Recently Richard Branson found that out the hard way).

Now, is there reason for some (not all) to want to sell, esp. if Uncle Warren decides to cut a HUGE check?

With the issues going on (ESPN, Shanghai, etc), it's certainly conceivable for some Board Members & Shareholders to gladly walk away if they are offered a huge premium to the current shareprice... I wonder if the Weatherman is one of them (let's say he thinks selling out now at a huge premium is a way to preserve his personal legacy instead of waiting until June 2018 and risk some dirty laundry making it out in the open before then).

That said, $DIS going private (or becoming a subsidiary of Berkshire Hathaway alongside See's Candies & Dairy Queen) means the job of Chairman & CEO would no longer exist, which would make Sheryl Sandberg and others make a frowny face...