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

[MerlinTheGoat]

Iger has failed. So what’s your plan?

Who said there was a plan? There isn't one. Peltz and his group were pitched as a potential replacement for Iger, and that isn't a valid solution. The solution to a curable illness isn't to hand someone a loaded gun. Or taking an endangered species enclosure and letting a bunch of starving lions inside.

The solution is someone who cares about the company and respects and values the customers more than Iger. That solution was not on the table at all during this Peltz drama. The choices were between Iger or much much worse.

Iger remaining the CEO and the company continuing to operate as it is currently is objectively a way less destructive choice than Peltz and his group gaining even the slightest foothold. And I would imagine that you and I have interacted enough at this point regarding Iger for you to know that I would not be saying this without very good reason. Because I very much hate Iger.

Peltz is the direct result of Iger.

The solution to Peltz is not more Iger.

The solution to Iger is not Peltz.

It is not our job to come up with a solution to Iger, and cerainly not within our control either. Iger is a terrible leader. The alternatives presented in this round were far far worse than him. This is a cold hard and ugly fact.

 

[lazyboy97o]

The franchise strategy has led to this moment. Nice that it succeeded for a decade, but Iger has no other cards to play. He’s got nothing but franchises that have dramatically lost popularity, IP that requires massive budgets, and studios that seem incapable of marketing mid-budget and/or original alternatives. So who cares if Iger stays? The guy has effectively run the movie business into the ground.

I don’t disagree but right now nobody is really talking something like Eisner’s old singles and doubles strategy. That’s not the choice currently being presented. Rasulo was never nor would be some different voice arguing for quality and creativity. Cheap churn would be the mantra. Direct to video sequels revived but with theatrical releases.

 

[MerlinTheGoat]

Well sure, but are theme parks expected to keep all rides and attractions the way they were originally in perpetuity? And if a favorite ride is changes shouldn't the appropriate response be some combination of disappointment or sadness and not anger and vitriol?

Aside from moderate tech upgrades (such as improving animatronic movement and whatnot), if the general consensus on an attraction is that it's still great and doesn't NEED to be changed, then there's not really a good reason to do so. This goes doubly for when there's so much vacant space elsewhere that should be developed first before worrying about the older classics.

 

[Trauma]

Well sure, but are theme parks expected to keep all rides and attractions the way they were originally in perpetuity? And if a favorite ride is changes shouldn't the appropriate response be some combination of disappointment or sadness and not anger and vitriol?

Why not a common sense approach? Change out attractions that are not popular and leave popular classics alone.

We will have a replacement for the greatest themed attraction of all time, before a replacement for Stitch.

This shouldn’t be rocket science.

 

[Disgruntled Walt]

Won't the board need to approve any Iger replacement? Even if Peltz and Rasulo both get seats, that surely wouldn't be enough influence to have Rasulo become the CEO. If I don't like Iger's methods of running the company, having the board not be 100% in compliance with him is a good thing, in my opinion.

 

[HauntedPirate]

Wasn't one of the top goals of bringing Iger back to come up with a succession plan?

 

[HauntedPirate]

Won't the board need to approve any Iger replacement? Even if Peltz and Rasulo both get seats, that surely wouldn't be enough influence to have Rasulo become the CEO. If I don't like Iger's methods of running the company, having the board not be 100% in compliance with him is a good thing, in my opinion.

Rasulo as CEO is a recipe for disaster. Full stop.

 

[Sirwalterraleigh]

Who said there was a plan? There isn't one. Peltz and his group were pitched as a potential replacement for Iger, and that isn't a valid solution. The solution to a curable illness isn't to hand someone a loaded gun. Or taking an endangered species enclosure and letting a bunch of starving lions inside.

The solution is someone who cares about the company and respects and values the customers more than Iger. That solution was not on the table at all during this Peltz drama. The choices were between Iger or much much worse.

Iger remaining the CEO and the company continuing to operate as it is currently is objectively a way less destructive choice than Peltz and his group gaining even the slightest foothold. And I would imagine that you and I have interacted enough at this point regarding Iger for you to know that I would not be saying this without very good reason. Because I very much hate Iger.


The solution to Iger is not Peltz.

It is not our job to come up with a solution to Iger, and cerainly not within our control either. Iger is a terrible leader. The alternatives presented in this round were far far worse than him. This is a cold hard and ugly fact.

No seriously…what’s your plan to replace Iger and thwart pelz? It’s really simple: both need to happen.

It was NEVER our job to support Iger. We are the consumers…it’s incumbent upon us to demand better product at all times. Reward the good and immediate pivot and reject the bad. Basic economics.

 

[lazyboy97o]

Won't the board need to approve any Iger replacement? Even if Peltz and Rasulo both get seats, that surely wouldn't be enough influence to have Rasulo become the CEO. If I don't like Iger's methods of running the company, having the board not be 100% in compliance with him is a good thing, in my opinion.

It’s not a good thing when you know they want to do things that are worse. Iger’s come around a good bit on spending on the parks. People who think the parks need even more cuts aren’t a good thing. Rasulo killed the “Potter Swatters”. He pushed back on Disneyland’s cleanup and the Disney’s California Adventure redo.

 

[Sirwalterraleigh]

Wasn't one of the top goals of bringing Iger back to come up with a succession plan?

…also known as “lying”

They think you’re stupid…don’t give them satisfaction of proving them right.

 

[Sirwalterraleigh]

I don’t disagree but right now nobody is really talking something like Eisner’s old singles and doubles strategy. That’s not the choice currently being presented. Rasulo was never nor would be some different voice arguing for quality and creativity. Cheap churn would be the mantra. Direct to video sequels revived but with theatrical releases.

Quite a pickle big shot bobby lead us to, huh?

 

[Sirwalterraleigh]

It’s not a good thing when you know they want to do things that are worse. Iger’s come around a good bit on spending on the parks. People who think the parks need even more cuts aren’t a good thing. Rasulo killed the “Potter Swatters”. He pushed back on Disneyland’s cleanup and the Disney’s California Adventure redo.

Second time:

The P&R guy has been the bagman for park exploitation for at least 30 years…with no exceptions.

 

[Sirwalterraleigh]

In order for me to take your argument seriously can you please tell me where this box office success is going to be coming from ?

It’s not…

Now we have seen that anything Disney makes can fail…
You also cannot assume frozen 6, Toy Story 14 and zootopia 3 will make a billion dollars.

This year alone they’ve pitched a marvel, an Pixar, an animated and a live action remake fail.
Nothing is guaranteed now.

 

[Casper Gutman]

The franchise strategy has led to this moment. Nice that it succeeded for a decade, but Iger has no other cards to play. He’s got nothing but franchises that have dramatically lost popularity, IP that requires massive budgets, and studios that seem incapable of marketing mid-budget and/or original alternatives. So who cares if Iger stays? The guy has effectively run the movie business into the ground.

I know you don’t like this fact, but all of Hollywood is beholden to the franchise model. They are beholden to that model due to profound structural and economic reasons, not the whims of individual stakeholders. With the arguable exception of Oppenheimer, 2023’s hits were franchise films. Disney does produce mid level and budget films out of its Searchlight label, but those are struggling as well. Hollywood doesn’t have an alternative to the franchise model at the moment. Dumping Iger doesn’t get rid of the franchise model - as Lazy points out, it will make it worse.

People are jumping to incredible conclusions after one bad year, a year with a box office no one understands, and ignoring over a decade of unprecedented success.

 

[Sirwalterraleigh]

Aside from moderate tech upgrades (such as improving animatronic movement and whatnot), if the general consensus on an attraction is that it's still great and doesn't NEED to be changed, then there's not really a good reason to do so. This goes doubly for when there's so much vacant space elsewhere that should be developed first before worrying about the older classics.

It’s almost like those moves are to fake “new” rides while covering maintenance costs the don’t want to spend on normal wear and tear?

…Stanford is worth every penny

 

[Sirwalterraleigh]

I know you don’t like this fact, but all of Hollywood is beholden to the franchise model. They are beholden to that model due to profound structural and economic reasons, not the whims of individual stakeholders. With the arguable exception of Oppenheimer, 2023’s hits were franchise films. Disney does produce mid level and budget films out of its Searchlight label, but those are struggling as well. Hollywood doesn’t have an alternative to the franchise model at the moment. Dumping Iger doesn’t get rid of the franchise model - as Lazy points out, it will make it worse.

People are jumping to incredible conclusions after one bad year, a year with a box office no one understands, and ignoring over a decade of unprecedented success.

The “he did it too” always worked with the principal.

So if you have to do franchises…then do them BETTER.

 

[Lilofan]

Rasulo as CEO is a recipe for disaster. Full stop.

When Rasulo left Disney approx 9 years ago he has no work history except serving on some boards in CA.

 

[MerlinTheGoat]

Wasn't one of the top goals of bringing Iger back to come up with a succession plan?

The board were really just in a panic and desperately thought Iger would give them a return to "normalcy". Iger doesn't want to leave though, not unless there's yet another Covid-like scenario that causes him to jump ship again. But even during Covid, he never really "left". Just kept on running things while Chapek held the CEO title and took all the blame.

Succession "talks" have been ongoing forever now. Every single time a successor is floated (all of which have been even worse than Iger himself, from Staggs to Rasulo to Chapek to McCarthy), Iger fires them and the board keeps extending his contract infinitely.

No seriously…what’s your plan to replace Iger and thwart pelz? It’s really simple: both need to happen.

It was NEVER our job to support Iger. We are the consumers…it’s incumbent upon us to demand better product at all times. Reward the good and immediate pivot and reject the bad. Basic economics.

Why are you asking me? I'm not a Disney executive, nor do I own any shares. Do YOU have a plan? I'm not presenting a solution to the problem. My solutions would never be considered even if I WAS a board member. I'm just informing people of what would happen if Peltz and his groups took control, and that it would be far worse than what Iger has done.

It’s almost like those moves are to fake “new” rides while covering maintenance costs the don’t want to spend on normal wear and tear?

…Stanford is worth every penny

Correct. Though this ended up backfiring on them with Tiana for a change. The backlash actually prompted them to up the budget a substantial amount. And what they're building there is going to be at least as costly to maintain as Splash, if not a lot moreso.

 

[Sirwalterraleigh]

When Rasulo left Disney approx 9 years ago he has no work history except serving on some boards in CA.

…they let chapek do it

 

[MerlinTheGoat]

It’s not a good thing when you know they want to do things that are worse. Iger’s come around a good bit on spending on the parks. People who think the parks need even more cuts aren’t a good thing. Rasulo killed the “Potter Swatters”. He pushed back on Disneyland’s cleanup and the Disney’s California Adventure redo.

As I understand it, Rasulo was also one of the "masterminds" (along with Iger himself) behind the creation of what has now become Genie. Formerly MyMagic+, or even "nextgen" as they called it over a decade ago.