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

[lazyboy97o]

They have three years now to get the right people in place.

They’ve had like ten years. This isn’t Iger’s first or even second extension to allow more time to develop the succession plan.

 

[GhostHost1000]

Don’t forget, Chapek got an extension too…right before he was canned

 

[Epcot82Guy]

I agree that this is the "only current viable option". But that itself identifies the problem. The "temporary return" was to get succession in place. So, the failure of that to happen in this time period shows the failure.

This is pure ego and failure of major corporate powers. But, that is far from a Disney-exclusive issue. And the product will suffer IMHO. But, as others have said, it's not surprising and likely the only thing the current board is willing to do.

 

[Epcot82Guy]

Don’t forget, Chapek got an extension too…right before he was sacked

Very fair point. Extension doesn't mean permanence. If things truly tank, Bob will likely try to find a scapegoat. But, it also puts the target more squarely on his back (right on top of that golden parachute...)

 

[BaconPancakes]

What about wolf in sheep's clothing Josh Dimaro?

 

[MerlinTheGoat]

Bingo. The problem is he wants a successor that fits his vision, opposition be damned.

He doesn't want a successor at all.

 

[AndyS2992]

Sighhhh...

 

[LSLS]

LOL, 18 months.....

 

[dreday3]

The board is nuts.

Agree.

Oh wait, I thought you said this board...

 

[Trauma]

@MisterPenguin

Would you like to tell us again when Iger is leaving?

 

[Brian]

 

[SirLink]

BoD are spineless and lack the ambition to get a decent CEO. The only difference between Bob and Bob is a thesaurus.

 

[monothingie]

Well none of them were any good to be fair.

Which probably explains why the company is in the wonderful position it is in.

 

[Trauma]

BoD are spineless and lack the ambition to get a decent CEO. The only difference between Bob and Bob is a thesaurus.

1000000000% Correct.

 

[GhostHost1000]

I’m seriously amazed at how many are happy and excited about this on social media.

Now I know there isn’t a successor right now so this unfortunately isn’t surprising given the circumstances, but…the issues Disney is facing right now he created so what makes so many think he’s going to fix them?

 

[monothingie]

 

[Skywise]

Just enough time to sell to Apple.

He's not there long enough to right the ship and with the writers strike ongoing they probably won't get any productions started up until 2024 at the earliest.

 

[Sirwalterraleigh]

A couple things before any more of the Swiss guard convinces themselves this is “great” to consider:

1. An extension doesn’t mean immunity from firing. It’s quite the opposite. Now poor stock performance is 100% on him as a scapegoat to shareholders
2. You can see this is “the only move they could make” (false…but plausible)…without calling it a “good move”.
Those 2 statements are mutually exclusive.

 

[monothingie]

I’m seriously amazed at how many are happy and excited about this on social media.

Now I know there isn’t a successor right now so this unfortunately isn’t surprising given the circumstances, but…the issues Disney is facing right now he created so what makes so many think he’s going to fix them?

First thing you need to do to get out of the hole is stop digging. They just got some gray shovels thrown in there.

Bob Chapek is on a beach somewhere smiling right now.

 

[SirLink]

Well none of them were any good to be fair.

Then you go external.