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

[Andrew C]

Only 11 people would join Bob in his private shower instead of the customary 12.

 

[Casper Gutman]

How would you assess the creative fuel in the Disney engine over the past ten years?

New lane would be any fresh starting line that attracts new audiences. If big-brained Bob can’t figure out how to do that, maybe he should put some of the posters here on the payroll.

As to “creative fuel” over the last decade - Inside Out, Zootopia, Moana, Coco, Onward, Raya, Encanto, Elemental, Soul, Turning Red, and Luca is a record of original IPs that completely dwarfs any other studio in Hollywood. It’s not close.

 

[Dranth]

It’s entirely possible the big investors want Peltz to get the seat to ensure there is a succession plan. Which there is not currently. If you read the rating agencies that backed the proxy…they specifically harp on succession.

I've been told repeatedly that Peltz can't do anything with one seat so what exactly is he going to do?

Seems to me that either investors are the biggest morons to ever walk the face of the planet or a seat on a company’s board is more influential and important than some folks here want to admit.

 

[Casper Gutman]

I've been told repeatedly that Peltz can't do anything with one seat so what exactly is he going to do?

Seems to me that either investors are the biggest morons to ever walk the face of the planet or a seat on a company’s board is more influential and important than some folks here want to admit.

Yup.

And what sort of successor is Peltz going to encourage?

 

[Jrb1979]

There is no magic bullet solution to creating new content to drive additional audiences. If there was Hollywood would have discovered it ages ago.

The tried and true method is one that Disney has generally embraced: put a LOT of content out there and hope something sticks. It's the method that guarantees the most return over time. Disney is poised well to continue to do that. They have the money, they have the connections, the collaborations with creators and still relatively good relations with Hollywood. They will save some money in making fewer movies, sure, but the plan never really changes.

That worked well in the past for most of Hollywood. IMO that strategy is failing now for all major studios. The problem is the younger generation is more into YouTube and TikTok. The question now is how do you get them to buy into what you're selling

 

[Jrb1979]

Yup.

And what sort of successor is Peltz going to encourage?

One that sells off everything piece by piece.
Six Flags over Orlando has a nice ring to it doesn't it.

 

[Stripes]

Why would you want an entire board room full of clapping seals, which is what they have now?

What is so frightening about one differing voice out of a dozen?

If it was really a room full of clapping seals, do you think we’d be seeing all these changes?

I’m not worried about Peltz even if he does get on the board. He’ll likely be a distraction. Not a great thing for the company right now, but it’s not going to move the needle either way.

Peltz has sat on some boards where the company turned itself around became a successful investment for Trian. The companies did that by ignoring Nelson or pursuing the exact opposite of what he suggested. If he gets on the board, this time will be no different.

 

[el_super]

Why would you want an entire board room full of clapping seals, which is what they have now?

We don't know that. We don't because the board are pretty professional and polished in what they do release to the media. That's what they are paid to do.

What is so frightening about one differing voice out of a dozen?

Honestly a good question. Peltz being elected to the board will change nothing. If he spends every single board meeting screaming FIRE IGER at the other board members, we will not hear of it. Peltz and Perlmutter just want the referendum on Iger and even if they get it, there will not be substantial change at Disney.

 

[Brian]

I've been told repeatedly that Peltz can't do anything with one seat so what exactly is he going to do?

Seems to me that either investors are the biggest morons to ever walk the face of the planet or a seat on a company’s board is more influential and important than some folks here want to admit.

It's not a black and white issue. He can have influence, including the ability to call anyone in the company and have their ear, without being able to do things like fire Iger (he doesn't want to anyway), get rid of DEI in films, or, as some would claim, sell the company off for parts. Any of these things would require a majority (at minimum) support of the board, and I have a hard time believing he would be so savvy as to be able to convince six other directors of his position, at least on the more controversial issues, when you consider the animosity they would have towards him.

 

[Dranth]

Yup.

And what sort of successor is Peltz going to encourage?

Doesn't matter, we have been assured Peltz is powerless and will just be ignored. The whole point is that Iger's feelings will be so hurt that the whole thing will collapse and out of the rubble will come the next golden age!

 

[el_super]

That worked well in the past for most of Hollywood. IMO that strategy is failing now for all major studios.

Even Netflix?

The problem is the younger generation is more into YouTube and TikTok. The question now is how do you get them to buy into what you're selling

That's a distribution problem, not really a content problem though.

 

[Tha Realest]

We don't know that. We don't because the board are pretty professional and polished in what they do release to the media. That's what they are paid to do.



Honestly a good question. Peltz being elected to the board will change nothing. If he spends every single board meeting screaming FIRE IGER at the other board members, we will not hear of it. Peltz and Perlmutter just want the referendum on Iger and even if they get it, there will not be substantial change at Disney.

I appreciate your response. I really do.

In terms of the PR, this comes a day after some of the early proxy votes appear to have been leaked. Not sure where this information comes from but if someone on/near the board that doesn’t speak well to the PR professionalism of the board.

This is also the same board that fired its last CEO a few months after extending his contract.

In my opinion, it’s a mess and could use some shakeup.

 

[Jrb1979]

Even Netflix?




That's a distribution problem, not really a content problem though.

I still believe when all is said and done, there will be only a few streaming services left.

It's not a distribution problem at all. It's a content problem. If people were interested in what you're selling they would buy it. It's obvious that in general people aren't buying a lot of what Hollywood is selling anymore

 

[lazyboy97o]

Why would you want an entire board room full of clapping seals, which is what they have now?

What is so frightening about one differing voice out of a dozen?

Because just having dissent is not inherently productive.

 

[TalkingHead]

You didn’t answer the question.

This thread isn’t the place to spitball how to fix Disney’s fading entertainment, it’s the place to discuss how Iger has guided these franchises into diminishing returns. More of the same, that’s seemingly all he’s got.

 

[lazyboy97o]

This thread isn’t the place to spitball how to fix Disney’s fading entertainment, it’s the place to discuss how Iger has guided these franchises into diminishing returns. More of the same, that’s seemingly all he’s got.

And Peltz is offering what? This shouldn’t be a hard question to answer.

 

[Stripes]

This is also the same board that fired its last CEO a few months after extending his contract.

To be clear, the board already had significant concerns about Chapek and were unhappy with his performance. It was Susan Arnold (former chairwoman of the board) that convinced the board to renew Chapek’s contract, claiming he’d lead the company better if he felt supported by the board.

And it is not the same board. The board has seen quite a lot of turnover and new blood since that decision was made.

 

[Joel]

Because just having dissent is not inherently productive.

Yes it is.

 

[Stripes]

Yes it is.

Clearly you’ve never been in an argument with my family.

 

[WoundedDreamer]

Given that Rasulo apparently hasn’t received much traction, don’t you think it’s a likely possibility that the votes that have been cast thus far are likely from firms whose votes are essentially dictated by ISS’s recommendation?

The ISS voters will tend to vote later. These have been individual shareholders, not the large institutional ones that follow ISS's lead.

So far, a minority of shareholders have voted. As of Tuesday, just over 22% of shares had been cast, according to people familiar with the matter, the bulk of them held by individual and other smaller investors.