You really need to read Disney Wars which discusses Eisner's tenure. There was another book, cannot remember the name of it, which discusses the years leading up to the Eisner years.
You really need to remember the state of the company after Walt and Roy's deaths. The movie and animation units went in the toilet. Everyone was walking around asking: "What would Walt do?". Their only answer was the creation of Epcot which was a financial disaster when it opened. Walt had purposefully acquired all that land in Orlando and for 20 years it was forest land!
In comes Eisner and Team Disney is invented. His protege Katzenberg started revitalizing the motion picture units and then asked: Why won't Animation work in this day and age? He proved it could with Beauty and the Beast, Lion King, and countless other movies that were instant Classics.
Overall, Eisner was a very neurotic person. He ran off Katzenberg. He brings in his best friend Ovitz, sets him up to fail and fires him 15 months later. Those two blunders cost shareholders approximately 450 MILLION!
Eisner almost ruined the relationship with Steve Jobs and almost allowed Pixar to walk away. Iger's first task was to revive the Pixar relationship. Disney ultimately paid a price for Pixar that was astronomical compared to the small price Eisner could have paid 10 years before. Then there was the crazy acquisition of the Family channel, losses at Euro Disney and a huge write-off on a failed Internet Portal.
On the other hand, the purchase of ABC Cap Cities has brought them untold profits - much of it led by ESPN. He also launched the Cruise Line which is a cash cow.
In the end, I think Eisner was a very flawed leader, but, I will always put him on a pedestal for his handling of WDW:
- He brought us the Studio's and AK
- Prior to the Dolphin and Swan it had been almost 20 years since a new hotel was developed on property! When Eisner took command contracts had been signed to design two very bland hotels - he cancelled those contracts and the D&S built instead. Ok, I could live without the D&S, but, look at all of the wonderful hotels and resorts built after that!
Had Eisner not taken command, you might have to drive through Sub-Divisions and Condo's to get to the Magic Kingdom (and that was being discussed)! In my opinion Eisner revived Walt's legacy and reinforced the notion that there is a Disney way of doing things. That had been lost for 20 odd years when Walt's heir-apparent's were wondering around in the dark.
I think you need to ask yourself: If you could bring back Walt for a 48 hour tour of WDW would he be happy with what he see's? I certainly believe the answer is yes - he would be. Well, Eisner was the driving force behind 75% of what you see on the property.
It is apparent to me that Iger does not have the creative spark Eisner did, but, he only must follow the creative blue-print handed to him.
One of Iger's first tasks was to have a huge Pow-Wow with the Orlando brass to create a long-term strategy for the remaining land at WDW. I have no idea what the plans hold, but, I think it was a very sound strategy.
Iger I believe is also making a strategic decision not to add a 5th Park. Rather, the new strategy is to add on to existing parks. And, that all makes sense in the economic times we find ourselves in.
Overall, I think the company is in better hands with Iger, but, will always think Eisner has a very special place in Disney lore.
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