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

[Disney Irish]

I don’t believe she’s pushing Lucas to do anything. George does what George does more or less…

A bridge too far.

And for the 4,789th time for the five or so not yet getting this…
Nobody here is supporting Peltz.

A call for new leadership after a considerable marathon length tenure under changing conditions is both prudent and required…

And if you want to get in my hot tub and go back in time 20 years…I said the SAME THING then.

If you don't think she is in George's ear whispering that he should say something, you've never been married or had a partner. She most certainly is, and the way it was written makes it seem like she probably had a hand in writing it too.

And nobody here is saying that Iger should stay longer than his current contract. I'm pretty sure everyone here acknowledges its time for him to move on and play golf. The only thing that is really of disagreement is the way in which he should go. I know you want him kicked out the door now, that isn't the way. And neither is bringing in Peltz to do that dirty work either.

The way I see it playing out. Peltz will lose in 2 weeks. The Succession Committee will do its work. And a successor will be named by FY25Q1/Q2 and will sit with Iger for the next year before taking over. After which Iger will become Executive Chairman again to wait out his contract and then move on and permanently retire at the end of 2026. And the Iger Era will be over, and then you can throw a party.

 

[Casper Gutman]

Can we please stop the bottomlessly bad-faith "Electing Peltz won't do anything" arguments? A huge amount of history, both of business in general and Peltz in particular, demonstrates this to be an absurd claim. It's absurd on its face, actually - Peltz is using all of his considerable power (for the second time) to get on the board and... change nothing? His two vindictive, revenge-driven allies want to... change nothing? It's a pathetic dodge by posters trying to obfuscate the very real impact of a Peltz victory, posters too cowardly to reveal their true motives.

It's important to note that if the posters backing Peltz like Raleigh get what they want, they will feign complete surprise at the entirely predictable negative impacts and will never, ever admit that it is a result of the changes for which they advocated.

 

[Casper Gutman]

If you don't think she is in George's ear whispering that he should say something, you've never been married or had a partner. She most certainly is, and the way it was written makes it seem like she probably had a hand in writing it too.

And nobody here is saying that Iger should stay longer than his current contract. I'm pretty sure everyone here acknowledges its time for him to move on and play golf. The only thing that is really of disagreement is the way in which he should go. I know you want him kicked out the door now, that isn't the way. And neither is bringing in Peltz to do that dirty work either.

The way I see it playing out. Peltz will lose in 2 weeks. The Succession Committee will do its work. And a successor will be named by FY25Q1/Q2 and will sit with Iger for the next year before taking over. After which Iger will become Executive Chairman again and then move on and permanently retire at the end of 2026. And the Iger Era will be over, and then you can throw a party.

...and things will probably get worse, because Iger was the symptom, not the disease. But yes, this is how things SHOULD play out.

 

[MisterPenguin]

The only thing that is really of disagreement is the way in which he should go. I know you want him kicked out the door now, that isn't the way. And neither is bringing in Peltz to do that dirty work either.

Peltz and Rasulo have said *twice* publicly, that they're not advocating for Iger to be fired/ousted.

HEAR THAT?

Peltz will keep Iger on as CEO.

So, if you're voting or advocating for Peltz so that Iger will be fired... HAHAHA!

Peltz on the board would constantly complain publicly that Iger and the board aren't doing what he recommends. And he'll spill trade secrets to cause chaos to get his way. Once that happens, the stock will plummet.

So, if you're a voter. You have Disney stocks. Voting for Peltz is voting for your stock to go down.

 

[Disney Irish]

Peltz and Rasulo have said *twice* publicly, that they're not advocating for Iger to be fired/ousted.

If you believe that I got a bridge to sell you.

Tinfoil hat time......

Peltz got Rasulo on board by promising him the big office so get can get back at Iger for passing him over. And if they succeed in getting their seats will nominate him and pressure the rest of the Board to replace Iger with Rasulo now. And Rasulo will twirl his evil mustache as Iger is escorted out the door.

Obviously it won't work. Which is why I don't wear a tinfoil hat.

 

[WoundedDreamer]

CONSPIRACY!

It is so depressing the way all of this mirrors broader trends.

I don't think the view that backroom deals were made is at odds with the sincere feelings many might have about this issue. This campaign actually bears significant resemblance to a political campaign. Meeting with donors, cutting deals, securing endorsements, making promises, and compromising are all part of serious campaigns like this. And it's not only Iger doing it either. It's pretty much a guarantee that Peltz and Rasulo have been working the phones trying to peel off votes.

Is this support for Iger organic? Probably to a large degree. But that doesn't mean Iger isn't calling in favors and lobbying. Getting Abigail Disney and George Lucas to cooperate almost undoubtedly took diplomacy on the part of Iger. What that might entail is anyone's guess. It could have been a sincere apology, a gift, or maybe even some promise to do something. It's clear that Iger can charm most people one on one (except maybe Chapek...).

I don't think it's paranoid to notice the difference between Lucas's statement and his previous statements on Disney.

That’s excellent sleuthing

There’s always something…she was to run the museum foundation he was gonna build in Chicago…so apparently that was too boring and went to to the board of one of the biggest bloodsuckers…ummm…I mean…”banks” on earth

Good to know

You know, there's something incredibly amusing about the fact that Lucas ended up married to a member of the JP Morgan board of directors. Lucas attacked the banking sector extensively in his Star Wars prequel trilogy. Dimon is exactly the sort of person his movie condemns. I guess the banking clan pays well...

 

[monothingie]

You are essentially supporting Peltz by suggesting people withhold their votes in a contest with only two realistic outcomes and by your constant, vitriolic attacks on Iger and unwillingness to consider who Peltz is and what his victory would mean.

What could Peltz do in the extremely unlikely event he won, with a tiny minority of seats on a board vastly loyal to Bob? If TWDC is indeed that fragile, then maybe it is time for Bob to go?

 

[WoundedDreamer]

Tell us oh spreader of alarm, what would Peltz do in the extremely unlikely event he won, with a tiny minority of seats on a board vastly loyal to Bob? If TWDC is indeed that fragile, then maybe it is time for Bob to go?

You don't understand. Only Iger has the magic touch. Only he knows how to green light Toy Story 5, Frozen 3, Moana 2, Avengers 5, Star Wars Episode X, Pirates of the Caribbean 6, copies of Avatar Land, copies of Zootopia land, and copies of Frozen Land. It's not like just anyone knows how to tell tell a team of creatives to just repeat what they've already done over and over. Peltz could ruin the entire operation. Without Iger, who is going to green light Toy Story 10? Jay Rasulo? No no no. Making magic is not for amateurs. Rasulo would be like a mouse in Yensid's workshop. Way over his head.

 

[monothingie]

You don't understand. Only Iger has the magic touch. Only he knows how to green light Toy Story 5, Frozen 3, Moana 2, Avengers 5, Star Wars Episode X, Pirates of the Caribbean 6, copies of Avatar Land, copies of Zootopia land, and copies of Frozen Land. It's not like just anyone knows how to tell tell a team of creatives to just repeat what they've already done over and over. Peltz could ruin the entire operation. Without Iger, who is going to green light Toy Story 10? Jay Rasulo? No no no. Making magic is not for amateurs. Rasulo would be like a mouse in Yensid's workshop. Way over his head.

I chuckle when I hear about Disney being a place full of story tellers, when in reality it has for the most part has become a place to mass produce “product” for audience consumption. If the level of storytelling quality continues to match what has been churned out of the Disney mill over the past 2 years, then maybe Bob should consider passing the torch to someone who has a vision and can do more than squeeze every last drop out of the past.

Peltz is the same ice cream as Bob, but a different flavor. I can certainly sympathize with his motivations considering how $DIS had underperformed leading market averages and been stagnant for a couple of years, but he is the wrong person to have any say in where Disney needs to go.

The boards priority should be finding that person to succeed Bob and Bob’s priority should be passing the torch and ensuring that person can be successful. But all it’s been is a decade of contract extensions and continual decline.

 

[Sirwalterraleigh]

Yes, numerous posters are supporting Peltz. You are essentially supporting Peltz by suggesting people withhold their votes in a contest with only two realistic outcomes and by your constant, vitriolic attacks on Iger and unwillingness to consider who Peltz is and what his victory would mean.

I am not supporting Peltz…so you are “essentially” completely wrong…

I am withholding my votes from the current directors because they are no longer right to lead the company into its next chapter and cannot be allowed to believe their flawed philosophy and declining product is acceptable.

I wish there another set of options had presented itself - because this will not end well.

I refuse to believe that Disney needs the cult of personality of an obselete leader in order to survive. Tis not so

 

[Sirwalterraleigh]

If you don't think she is in George's ear whispering that he should say something, you've never been married or had a partner. She most certainly is, and the way it was written makes it seem like she probably had a hand in writing it too.

Are you 12? That’s not how billionaires operate

“Hunnnn…you should really help Bob Iger.”

They don’t need him beyond what George wants out of his creative access

And nobody here is saying that Iger should stay longer than his current contract. I'm pretty sure everyone here acknowledges its time for him to move on and play golf. The only thing that is really of disagreement is the way in which he should go. I know you want him kicked out the door now, that isn't the way. And neither is bringing in Peltz to do that dirty work either.

This one won’t age well.

The way I see it playing out. Peltz will lose in 2 weeks. The Succession Committee will do its work. And a successor will be named by FY25Q1/Q2 and will sit with Iger for the next year before taking over. After which Iger will become Executive Chairman again to wait out his contract and then move on and permanently retire at the end of 2026. And the Iger Era will be over, and then you can throw a party.

The board is pathetic…a mixture of Iger elected hacks. They will do EXACTLY what he tells them to do.

 

[monothingie]

The board is pathetic…a mixture of Iger elected hacks. They will do EXACTLY what he tells them to do.

The year is 2026 and Bob is sending an email to the BOD: “Please extend my contract for another 2 years while I continue to fix the mess Bob (the bald one) created, and then I really promise I’ll find someone to take my place. xoxo Bob (not the bald one)”

 

[Sirwalterraleigh]

The year is 2026 and Bob is sending an email to the BOD: “Please extend my contract for another 2 years while I continue to fix the mess Bob (the bald one) created, and then I really promise I’ll find someone to take my place. xoxo Bob (not the bald one)”

These probably not more than a 95% chance he extends himself in the next year

 

[monothingie]

These probably not more than a 95% chance he extends himself in the next year

I’m sure you can bring someone new up to speed in a month right?

And we will see some more c-suite house keeping when a couple of current division heads pack up and leave when their path upwards gets once again blocked.

 

[Disney Irish]

Are you 12? That’s not how billionaires operate

“Hunnnn…you should really help Bob Iger.”

They don’t need him beyond what George wants out of his creative access

Why you don't think he gets a "honey-do list" at the Ranch just like everyone else?

But seriously, it doesn't take using the force here to see that his wife had an influence on this public statement. Had it come out without Dimon's statement coming out first, sure I'd believe that maybe some horsetrading went on. But the fact that the statements came out just days apart, and make very similar statements shows they are connected.

And Fortune basically agrees -

Jamie Dimon and George Lucas have a common thread that could explain their support for Bob Iger and Disney

Mellody Hobson, Lucas’ wife and one of Fortune’s Most Powerful Women, serves on the JPMorgan board.

fortune.com

The board is pathetic…a mixture of Iger elected hacks. They will do EXACTLY what he tells them to do.

We'll see how it plays out.

 

[Casper Gutman]

I chuckle when I hear about Disney being a place full of story tellers, when in reality it has for the most part has become a place to mass produce “product” for audience consumption. If the level of storytelling quality continues to match what has been churned out of the Disney mill over the past 2 years, then maybe Bob should consider passing the torch to someone who has a vision and can do more than squeeze every last drop out of the past.

Peltz is the same ice cream as Bob, but a different flavor. I can certainly sympathize with his motivations considering how $DIS had underperformed leading market averages and been stagnant for a couple of years, but he is the wrong person to have any say in where Disney needs to go.

The boards priority should be finding that person to succeed Bob and Bob’s priority should be passing the torch and ensuring that person can be successful. But all it’s been is a decade of contract extensions and continual decline.

Cute trick limiting it to 2 years. You still went too wide - you need to limit the relevant range to about 1 year and 2 months. Whoopsie!

Peltz and Iger spring from the same corporate culture, but Peltz (and Perlmutter and Rasulo) are EXPONENTIALY worse. This has been demonstrated again and again by posters providing copious evidence of past actions and statements. In response, the Peltz fans offer absolutely no evidence - nothing - instead pouring forth disingenuous hand waving and changing the subject back to Iger.

What can Peltz do? Try to place Rasulo on the throne. Force out Feige (are we pretending Perlmutter has forgiven him?) Insist upon the dismemberment of the company for short term gain. Make enormous cuts to the studios and theme parks. Initiate mass layoffs at both. Block any expansion of the theme parks (which, yes, has happened, though not fast enough in Florida). Kill the plans for Disneyland that Anaheim just approved. Insist on using AI to develop new animated characters (Blackwell suggested this). Shutter or sell Searchlight. Start shelving finished projects like Warners. End the development of original animated IPs like Encanto or Elio or Soul (this would be a priority, since animation, particularly at Disney, is the only genre that has partially escaped the IP focus). Increase the IP focus of the studios even further. Block risky IP projects like Andor or Black Panther or Moon Knight or Ms Marvel. Cut film budgets to the bone.

That's just a taste.

The parks have deteriorated, but they are still great. The performance of Disney Studios until 2023 has been incredible. The idea that things can't get worse is either bad faith or infantile.

 

[IanDLBZF]

Cute trick limiting it to 2 years. You still went too wide - you need to limit the relevant range to about 1 year and 2 months. Whoopsie!

Peltz and Iger spring from the same corporate culture, but Peltz (and Perlmutter and Rasulo) are EXPONENTIALY worse. This has been demonstrated again and again by posters providing copious evidence of past actions and statements. In response, the Peltz fans offer absolutely no evidence - nothing - instead pouring forth disingenuous hand waving and changing the subject back to Iger.

What can Peltz do? Try to place Rasulo on the throne. Force out Feige (are we pretending Perlmutter has forgiven him?) Insist upon the dismemberment of the company for short term gain. Make enormous cuts to the studios and theme parks. Initiate mass layoffs at both. Block any expansion of the theme parks (which, yes, has happened, though not fast enough in Florida). Kill the plans for Disneyland that Anaheim just approved. Insist on using AI to develop new animated characters (Blackwell suggested this). Shutter or sell Searchlight. Start shelving finished projects like Warners. End the development of original animated IPs like Encanto or Elio or Soul (this would be a priority, since animation, particularly at Disney, is the only genre that has partially escaped the IP focus). Increase the IP focus of the studios even further. Block risky IP projects like Andor or Black Panther or Moon Knight or Ms Marvel. Cut film budgets to the bone.

That's just a taste.

The parks have deteriorated, but they are still great. The performance of Disney Studios until 2023 has been incredible. The idea that things can't get worse is either bad faith or infantile.

This is why I oppose Peltz, Perlmutter and Rasulo for the board.

 

[Vegas Disney Fan]

You don't understand. Only Iger has the magic touch. Only he knows how to green light Toy Story 5, Frozen 3, Moana 2, Avengers 5, Star Wars Episode X, Pirates of the Caribbean 6, copies of Avatar Land, copies of Zootopia land, and copies of Frozen Land. It's not like just anyone knows how to tell tell a team of creatives to just repeat what they've already done over and over. Peltz could ruin the entire operation. Without Iger, who is going to green light Toy Story 10? Jay Rasulo? No no no. Making magic is not for amateurs. Rasulo would be like a mouse in Yensid's workshop. Way over his head.

You forgot Igers biggest skill, buying companies that are actually creative, that’s been his MO for the last 20 years. He bought Pixar and capitalized on their success, he bought Marvel and capitalized on their success, he bought Star Wars and capitalized on their success, even Disneys own revival with Frozen, Moana, etc was under Lasseter… unfortunately they’ve killed the golden geese and people now expect them to actually be creative themselves, and they are failing miserably. Unfortunately for him there’s nothing left to buy… he’s still trying though, they paid Taylor Swift and she just set records for D+ and they just signed that new deal with fortnight so maybe they’ll come up with something creative for Disney, 20 years of hiding behind bought talent and now he’s grasping at straws.

 

[MisterPenguin]

You forgot Igers biggest skill, buying companies that are actually creative, that’s been his MO for the last 20 years. He bought Pixar and capitalized on their success, he bought Marvel and capitalized on their success, he bought Star Wars and capitalized on their success, even Disneys own revival with Frozen, Moana, etc was under Lasseter… unfortunately they’ve killed the golden geese and people now expect them to actually be creative themselves, and they are failing miserably. Unfortunately for him there’s nothing left to buy… he’s still trying though, they paid Taylor Swift and she just set records for D+ and they just signed that new deal with fortnight so maybe they’ll come up with something creative for Disney, 20 years of hiding behind bought talent and now he’s grasping at straws.

And Peltz's ideas for new creativity are....?

 

[Casper Gutman]

You forgot Igers biggest skill, buying companies that are actually creative, that’s been his MO for the last 20 years. He bought Pixar and capitalized on their success, he bought Marvel and capitalized on their success, he bought Star Wars and capitalized on their success, even Disneys own revival with Frozen, Moana, etc was under Lasseter… unfortunately they’ve killed the golden geese and people now expect them to actually be creative themselves, and they are failing miserably. Unfortunately for him there’s nothing left to buy… he’s still trying though, they paid Taylor Swift and she just set records for D+ and they just signed that new deal with fortnight so maybe they’ll come up with something creative for Disney, 20 years of hiding behind bought talent and now he’s grasping at straws.

Yes, being able to make smart acquisitions is a good thing for a CEO. That’s a big point in Iger’s favor. Any other studio in Hollywood could have bought Marvel… but they didn’t and Disney did. And most of Marvels incredible success came after Disney bought them - before that, the studio had released only Iron Man and Hulk, hardly a guarantee of the unprecedented success that was to follow.

The idea that Lasseter was the sole engine of Disneys animated success is patently absurd. What mattered at Pixar was the collaborative process, not one creator. Let’s look at what Lasseter has done on his own… not impressive. One gets the idea that if Iger was accused of sexual harassment, some of his current critics would start defending him very passionately.

The awkward truth for those who want to paint Iger with the broadest negative brush possible is that, as bad as he’s been for the parks, he’s been amazing for the studios.