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

[Vegas Disney Fan]

Well yes and no. He can't just tell the CEO to go screw themselves if they want to push IP in the parks, green light his own passion projects at any significant scale, and refuse to cut costs when the order comes down from on high. He probably does have some say on how the IP mandate, cuts, and other things are implemented, though. I guess the head of P&R will also be expected to come up with their own ideas, which would also be a way to distinguish between different executives.

All of this is to say that I don't know what I think of D'Amaro as he has managed to surf the Iger and Chapek periods and there has been a mix of good and bad, or at least ebbs and flows over those periods. I think it's pretty clear Chapek was negative for the parks, as have been others (such as Pressler and Rasulo). D'Amaro is harder to read, which may be by design, though if he had any hand in steering the plans from DAK away from those first presented at D23 toward what we seem to be getting now, that may be a sign that he at least has some sensibility for the parks and their fans.

I’m more bothered by the lack of parades, lack of entertainment, lack of maintenance, lack of cleanliness, loss of perks, nickel and diming, etc.

Convincing Iger to spend billions of dollars on a new land is one thing, brining back things like parades and entertainment and hiring a few more janitors to keep the bathrooms clean shouldn’t require Igers approval, let alone knowledge, at all. Those are the details D’Amaro and his team should be handling that have nothing to do with Iger.

 

[Lilofan]

I get what you're saying, but I get a different feeling here. Since Iger took over (the first time), "nobody" gets the big chair except when he had a panic attack and put Watto in charge. This is all new territory.

Last I heard it’s the Disney Board that gives the approval on the new CEO. How’s that external list of candidates in the last few years going ?

 

[Lilofan]

I’m more bothered by the lack of parades, lack of entertainment, lack of maintenance, lack of cleanliness, loss of perks, nickel and diming, etc.

Convincing Iger to spend billions of dollars on a new land is one thing, brining back things like parades and entertainment and hiring a few more janitors to keep the bathrooms clean shouldn’t require Igers approval, let alone knowledge, at all. Those are the details D’Amaro and his team should be handling that have nothing to do with Iger.

When Iger tells Wall Street he sees the company in a leaner organization it doesn’t take a lot to figure out how his lieutenants need to find ways to make it happen.

 

[pdude81]

Last I heard it’s the Disney Board that gives the approval on the new CEO. How’s that external list of candidates in the last few years going ?

I heard that too. The former chair really s--t the bed on the successor search. Good thing the rest of members were independent

 

[NotCalledBob]

If we need a new Parks Head because either D'Amaro is promoted. Or, because D'Amaro isn't promoted and jumps ship, my pick is Natacha Rafalski.

Having Ken or Jeff in charge doesn't inspire at all.

 

[Vegas Disney Fan]

When Iger tells Wall Street he sees the company in a leaner organization it doesn’t take a lot to figure out how his lieutenants need to find ways to make it happen.

That’s where the advocacy comes in, it‘s his job to convince Iger a nighttime parade will keep more people in the parks eating dinner and buying churros.

I had it out with a manager once because we were getting crushed every night and he wouldn’t install another well at our concert venue bar, he said there’s no way his boss would ever approve $25k to install another well, I told him to show him the $12k worth of receipts from the 3 existing wells every night and ask him how long it would take to pay it off if we could make another $1-3k a night with another well, we had the new well installed within a month. I don’t expect a CEO to be on top of things like how much a single bartender rings at a concert venue but the F&B VP absolutely should and should be able to show the CEO why spending $25k makes sense in the long run.

 

[HauntedPirate]

Yes, because the strategic planners always had such good ideas…

Strategic planners and accounts/finance majors. The first two groups of people you pick from when you need creative types!

 

[Lilofan]

Strategic planners and accounts/finance majors. The first two groups of people you pick from when you need creative types!

Lasseter was a good exec at Disney until he was heavy baggage with his harassment of females and drunken behaviors during company events. The company even had an escort follow him around so he doesn't get into more trouble but that did not work.

 

[Sirwalterraleigh]

I get what you're saying, but I get a different feeling here. Since Iger took over (the first time), "nobody" gets the big chair except when he had a panic attack and put Watto in charge. This is all new territory.

That’s why buying he’s leaving is not the smart bet as it stands

But if they continue to sink on Wall Street…then prepare for some excuses for a second coward exit

 

[freediverdude]

I'm still not convinced that he's ever leaving unless forced to by the board or his health, and the damage already done would take a long time to reverse.

 

[Sirwalterraleigh]

I'm still not convinced that he's ever leaving unless forced to by the board or his health, and the damage already done would take a long time to reverse.

A wise assumption

He’ll Leave if he thinks the stock won’t rebound an he’ll get any grief for it.

It’s all ego.

If that happens…it will be delay, delay delay

We’ve seen this game for 15 years…look for attention…get the press to laud you…be “begged” to stay

It’s complete narcissism at a minimum.

He was throw in when Eisner wanted abc…just for historical context

 

[Sir_Cliff]

That’s where the advocacy comes in, it‘s his job to convince Iger a nighttime parade will keep more people in the parks eating dinner and buying churros.

I had it out with a manager once because we were getting crushed every night and he wouldn’t install another well at our concert venue bar, he said there’s no way his boss would ever approve $25k to install another well, I told him to show him the $12k worth of receipts from the 3 existing wells every night and ask him how long it would take to pay it off if we could make another $1-3k a night with another well, we had the new well installed within a month. I don’t expect a CEO to be on top of things like how much a single bartender rings at a concert venue but the F&B VP absolutely should and should be able to show the CEO why spending $25k makes sense in the long run.

I completely agree with you, though I just wonder why the current corporate culture doesn't seem to encourage that sort of thinking. It's not just Disney; judging from what gets mentioned on the Universal side of the forum, if anything they have been harsher in slashing live entertainment and opening hours. I don't know if it's that the people who tend to get to these positions these days lack vision, immediate cuts are just far more attractive to investors than medium or longterm gains, or something else. Big splashy new investments, on the other hand, don't seem to be as unappealing, perhaps because they are easier to communicate through a language of growth than relatively minor operational tweaks.

 

[Scar Junior]

I’ve been rejoining Disney culture and revisiting the parks and resorts as a customer after about 7 years removed from wdw leadership… the state of things is just awful.

When Eisner left it was awful - watch YouTube if you need a reminder. Other was great for a handful of years until it trickled down for mid leadership and eventually everyone to know…

 

[MisterPenguin]

I'm still not convinced that he's ever leaving unless forced to by the board or his health, and the damage already done would take a long time to reverse.

He already left once.

So why not again?

 

[JoeCamel]

He already left once.

So why not again?

Please tell me we are one and done on a pandemic

 

[BrianLo]

I still think we're living in the Chapek Parks era let down. D'amaro has convinced his boss to spend more on his portfolio and its a matter of what the coming years yield.

He was handed the Parks at the onset of the Pandemic, when Chapek still wasn't really given the Studio side of things over by Iger. Things like Genie were all developed under Chapek. Funding was really paused from Chapek's end, even through his firing, the company was clearly not financially as healthy as it should have been.

Then D'amaro was left with an absolute mess in Florida. His vision I think can be seen early in pushing Disneyland Forward development plan, bringing forward the DAK/BBTM projects (despite there still being a funding freeze under Chapek at the time) and the capital expenditure 'promise' he has since worked up with Iger. Not the wheels set in motion (or cancelled) by Chapek, which is largely what 2023/24 were still about.

I really think this D23 is a fair judgement on D'amaro's tenure. Either there are deliverables with the things he has been planning that we will meaningfully see, or there aren't.

 

[Nubs70]

Chapek Era was a continuation of Bob by another name.

 

[Lilofan]

I still think we're living in the Chapek Parks era let down. D'amaro has convinced his boss to spend more on his portfolio and its a matter of what the coming years yield.

He was handed the Parks at the onset of the Pandemic, when Chapek still wasn't really given the Studio side of things over by Iger. Things like Genie were all developed under Chapek. Funding was really paused from Chapek's end, even through his firing, the company was clearly not financially as healthy as it should have been.

Then D'amaro was left with an absolute mess in Florida. His vision I think can be seen early in pushing Disneyland Forward development plan, bringing forward the DAK/BBTM projects (despite there still being a funding freeze under Chapek at the time) and the capital expenditure 'promise' he has since worked up with Iger. Not the wheels set in motion (or cancelled) by Chapek, which is largely what 2023/24 were still about.

I really think this D23 is a fair judgement on D'amaro's tenure. Either there are deliverables with the things he has been planning that we will meaningfully see, or there aren't.

Nothing new real world on an employee who gets promoted to inherit a mess ( ie me ). D’Amaro can make an impact provided he gets the blessing of his boss/ following agenda and getting approvals on ideas to improve bottom line.

 

[TrainsOfDisney]

D'amaro has convinced his boss to spend more on his portfolio and its a matter of what the coming years yield.

Just this summer we’ve seen entertainment cuts and dining cuts so it’s not looking good for his portfolio.

 

[BrianLo]

Just this summer we’ve seen entertainment cuts and dining cuts so it’s not looking good for his portfolio.

That level might fall more on Jeff Vahle, would it not? Especially dining.

But ya fair enough, in a microcosm there are more minor decisions that will add up to his final judgement.