Staggs left because there was no path upwards. That was 100% on Iger.
Iger, just like with Chapek and potentially just like with whomever's name comes out of the hat next, will actively sabotage them because deep down he doesn't want to ever leave.
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News The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as CEO Through 2026
- Thread starter DCBaker
- Start date
Iger, just like with Chapek and potentially just like with whomever's name comes out of the hat next, will actively sabotage them because deep down he doesn't want to ever leave.
So the number of times he openly tried to retire and the Board convinced him to stay is smoke and mirrors ?
Based on the fact that he is currently actively employed at TWDC as the CEO after having tried to retire multiple times and having his contract extended by the BOD, then actually retiring for less than 6 months before coming back at the BOD's insistence, then yes it is all smoke and mirrors.
LSLS
Well-Known Member
Convince me he really did try to retire. He has removed people each time they were mentioned as potential successors, and in his main job expressed to him by the board of finding a successor by the end of 2024, he worked so hard at it, they had to extend him another 2 years. I know it can be tough to believe someone may lie to the media, but I don't buy he's wanted out.
Dranth
Well-Known Member
Oh, Iger is no saint in all of this but it wasn't that Chapek did things Iger didn't want him to do that got him fired. It is that he did things the board told him not to do that proved to be disasters. He was told the reorg was a mistake by nearly every last person who had any knowledge of the company, he did it anyway and sure enough, it was a disaster. He was told no to Peltz because the whole board already knew about Perlmutter's crusade for being slighted, he continued with it anyway. He was told specifically to not p-off the talent, he did. He was told to sign the petition in Florida, he decided on his own not to. To his credit, after being told to make good, he did do that but then went full bone head and decided on his own to cut all funding to campaigns in the state and pick a fight.
Bottom line, had he any business sense, he could have easily outlasted Iger, even used him for his benefit and been in control for many years. Actually, scratch that, despite all his issues, he DID outlast Iger, the problem is he was just terrible at the job.
I thought the article summed it up nicely. After fairly pointing out all the problems and challenges Chapek faced they say this:
"At the same time, he certainly contributed to his own demise. Soon after he was named chief executive, he stopped ingratiating himself with Mr. Iger. And, by the end, nearly his entire executive team had turned against him, even people he’d hired and promoted. So did the board — not just Ms. Catz, skeptical of him from the outset, but also Ms. Arnold, once his strongest defender."
Some of those came on when Iger was well on his way out or wasn't even with the company but sure, let's say that is the case as it very well could be. What exactly does that mean? What decision, from a business perspective (not a fans, we all have plenty of those) has Iger made to date that the board should have stepped in about?
Other than the malcontent Perlmutter, who should of been let go about ten years ago, who did he replace or silence? Daniel? After undoing the reorg his position was gone. McCarthy? She was on Iger's side. Do you mean on the board? I believe Arnold and Catz are the only two that left and one of those two was adamantly against Chapek from the start. Maybe I am forgetting someone but it doesn't look like he cleaned house all that much.
There are CEO and visionaries out there that expect and demand loyalty. If not that person's career will be a short lived one. Ovitz in the 1990s left Disney but not without hitting the jackpot of leaving with a $140M severance pay with only 14 months on the job.
TalkingHead
Well-Known Member
Honestly it doesn’t matter who the replacement is. Iger’s Disney is here to stay. IP, sequels, diminishing-returns franchises. There’s no turning the Titanic around at this point.
DMED made perfect sense to a numbers guy like Chapek at the time. I'm not defending it, but there was a lot more at stake than creatives getting their feelings hurt during the fog of Covid.
Maybe or maybe not, we will really never know. In fairness to Chapek, he only had 6 months of being Iger free to steer the ship without his interference.
The Florida situation that escalated way out of control and should have been stopped immediately.
Massive overspending on content development.
Lack of oversight on content development. (Something Iger admitted himself)
The insanity of Iger's bidding war to overpay by tens of billions for 21CF.
The complete failure of the way D+ was run post launch.
@Sirwalterraleigh, you got more?
Perlmutter and Peltz were a distraction, one that Chapek seemed to handle well to his credit. (Iger would later on in 2023-4 not handle them well which resulted in the messy proxy fight which certainly didn't help things TWDC which was already in turmoil).
The messaging in November 2022 was that Iger was brought back temporarily to right the ship, name a successor, and then leave. He was only to be there for to provide a transition. The people who brought Iger back saw it as an opportunity for them to move up once Iger left. For many of them, even the Iger lackeys like McCarthy, got themselves screwed over when Iger's temporary stint got extended at his insistence which the BOD instantly approved, till at least 2026. Arnold was on borrowed time because while she was weary of Chapek, she didn't exactly tow the Iger line. Once she left and Parker took over, Iger fully cemented complete control of the BOD. Every successive replacement on the BOD has been reflective of people eager to rubber stamp anything he wanted to do.
Dranth
Well-Known Member
Other than 21CF, which even that is debatable on how much they overspent, those were all pretty much Chapek. Again, what about Iger since he has come back has indicated the board is just doing whatever he wants any more than any other company board?
I am not even saying they aren't because let's face it, like it or not, that is how public companies work, even how they are designed to work, but nothing so far has seemed any more out there than you would usually see.
The issue I have is when many want to ascribe to conspiracy what can more rightly be attributed to just about anything else like blind luck or stupidity. For example, if we are going to believe the article, the board wasn't going to get rid of Chapek until he completely boned the financials and was so out of his depth that he either didn't know or understand just how bad it was. No amount of Iger evil mastermind level scheming made that happen.
At the end of the day, I know most of us dislike a lot of things going on with the company and I would be willing to bet nearly every last person on this board has their own list of grievances against Iger, but he did not make Chapek fail. Sure, he didn't help him either and, in some cases, even actively worked against him but in the end, Chapek offed himself.
I'll just say this one last thing as it has been my experience with business and I really believe it holds true just about everywhere; when the majority of your own people turn on you, you are likely the problem.
JoeCamel
Well-Known Member
If that happens I have to tack "interim" on it.....
She won't be in the role long
Have really learned anything new? Iger started out as a really good CEO, making some great acquisitions in Pixar, Marvel, Lucas studios--and a not so great move buying Fox. In the process getting positive press and getting just about the biggest Ego in the USA. It is time to go--but this time no one will take the job unless Iger turns in his keys to the office and is barred from Corp headquarters. No one should be so stupid as to let little Cesar to stick around looking over their shoulder.
Sirwalterraleigh
Premium Member
Anyone “internal” would appear to be “hired to be fired” from the jump.
They are making a mistake
Though Walden has a better shot that tight pants
John park hopper
Well-Known Member
Disney stock is 88.32 how long will they keep Bob?
Disney Analyst
Well-Known Member
Likely until they have a candidate selected, on-boarded, and ready to go.
JoeCamel
Well-Known Member
That was Chappie's problem, he didn't understand that he was a transition choice and he started acting like he was going to boldly lead the company into the next golden age. Chap you were nothing but a placeholder and I don't envy anyone that tries to follow Iger in this role.
Till it hits 78.
Vegas Disney Fan
Well-Known Member
The shaky stock price probably helps Iger right now, the last thing Disney needs is another shake up that may spook the market.
Any unexpected change right now likely hurts the stock more than it helps it.
Iger has 9 lives , at this point maybe more. Whatever happens if he's going to leave if that he going out with a huge parting gift.
Vegas Disney Fan
Well-Known Member
I still don’t know why he came back, an old man with hundreds of million of dollars in the bank and no time to enjoy it.
I know people get off on power but given his unlimited bank account I’d rather have free time.