Iger to take over as CEO of Disney on 9/30/05!

[WDWHound]

You know, I got banned from Intercot a few years back because they said that I was too negitive and that I was always arguing with anyone about how bad managment was at Disney and how they were sucking the parks dry due to their poor media buys.

Welcome home.You would have fit in just swell here a few years ago too. We were complaining then, and we're still complaining now (LOL).

 

[WDSearcher]

I'd love to be able to post that I'm confident BI ( actually I like Larry's MiniME, but that's a little to judgemental for me right now ) will bring back the good ol' days, but I can't.

The "good ol' days" will never be back, and it's unfair to expect that, IMO. The industry, the world, business, and expectations are all different -- incredibly different -- than they were in those good days of old. What I'm hoping BI does is just put a fresh eye to everything ... get everyone looking at the Disney-ness of it all. Once it's "his" to operate as opposed to ME's, I think Bob will surprise us.

 

[crusader]

Ahh but it is that simple, Matt.

Think about it. Eisner has ruled for 20 years. Now, it's time for an exit strategy that preserves his legacy in a favorable light. What better way to insure he's always treated as a VIP when it comes to the Disney Co. than to leave in a such a dignified manner. He'll be respected for this.

 

[Golter]

I feel BI will try to distinguish himself from ME. He does not want to be known as ME's "minnie me".

 

[WDWHound]

I've got to go with Crusader on this one. Eisner had to leave next year anyway, so why not exit a bit early and gain the good will. That said, I have a sneaking suspision that he may try to use that good will to retain his directorship. Iger will owe him big time the promotion and Eisner may just use that and nis new found good will to try and find a way to stick around.

 

[raidermatt]

That said, I have a sneaking suspision that he may try to use that good will to retain his directorship. Iger will owe him big time the promotion and Eisner may just use that and nis new found good will to try and find a way to stick around.

That's my point... If you believe this, then it isn't as simple as trying to gain some respect on the way out.

We've found out time and time again that Eisner does not think in the same terms we do, and saying its "reasonable" for him to just want to gain some good will just doesn't fit his pattern.

Maybe he had to agree to it to ensure his man got the job. Maybe Iger threatened to walk if he had to wait another year and a half. Maybe he knows he will remain a target if he stays on and is not comfortable he can defend himself another year and a half. Maybe Jobs has made it clear he will re-sign only if Eisner is gone this year. Maybe there is a behind the scenes agreement to ask Eisner to stay on the board or with the company in some form. Maybe there is some sort of financial agreement.

I don't pretend to know for sure what is going on, I just have no doubt that he's not just trying to ensure his portrait retains a favorable location at Team Disney headquarters after he leaves.

That's just not how the man is wired.

 

[DancingBear]

...Maybe there is a behind the scenes agreement to ask Eisner to stay on the board or with the company in some form...

But Mitchell is leaving the board next year also, so who would be ME's partner in crime to set this up?

 

[WDWHound]

But Mitchell is leaving the board next year also, so who would be ME's partner in crime to set this up?

How about Iger?

 

[DancingBear]

How about Iger?

I don't think they're going to go back to a combined CEO/Chairman so some new Chairman will be involved. Of course, it could be one of Eisner's flunkies on the Board, but do any of them have that kind of juice?

Probably just a fantasy, but I'd be very excited with Jobs as chairman.

 

[mitros]

Ei$ners hand picked board chooses Iger, also hand picked by Ei$ner, can anything good possibly come from that ?.......not likely

 

[crusader]

Maybe he had to agree to it to ensure his man got the job. Maybe Iger threatened to walk if he had to wait another year and a half. Maybe he knows he will remain a target if he stays on and is not comfortable he can defend himself another year and a half. Maybe Jobs has made it clear he will re-sign only if Eisner is gone this year. Maybe there is a behind the scenes agreement to ask Eisner to stay on the board or with the company in some form. Maybe there is some sort of financial agreement.

maybe maybe maybe

you forgot one:

maybe it's time - and he's ready.

For all this conspiracy I say - yeah, it's likely he and Iger will remain connected on various levels. They worked together for years and Iger won't cut that tie just because disneyites want him to. It's bad business.

 

[raidermatt]

But Mitchell is leaving the board next year also, so who would be ME's partner in crime to set this up?

As the Hound said, Mitchell's is not the only leash Eisner holds. (Lozano, Bryson, etc)

He's been influencing the board for 20 years. Most owe their position to him.

Besides, as you said, Mitchell doesn't leave until next year. There's plenty of time to execute something.

 

[DancingBear]

As the Hound said, Mitchell's is not the only leash Eisner holds. (Lozano, Bryson, etc)

He's been influencing the board for 20 years. Most owe their position to him.

Besides, as you said, Mitchell doesn't leave until next year. There's plenty of time to execute something.

I get back to the question of who is going to be the new chairman. Will Wall Street accept one of Eisner's cronies as chairman? Seems to me that the chairmanship is going to remain a separate position, and Wall Street will expect a certain level name to replace Mitchell. It's one thing to be a pawn in Eisner's games, another to take a leading role.

And, the fact that "most owe their position to him" doesn't mean to much after he's gone (assuming he really goes). Eisner has a style that keeps people under his thumb while he is in power; he doesn't seem to have a style that will keep people loyal to him after he leaves. If you assume these folks are just toadies, they will need to start toadying up to a new regime.

Do we really think so little of Iger that just because Eisner became his supporter in recent months Iger will forget everything that Eisner did to him and said about him?

Do we really think that board members aren't made a bit uncomfortable about the spotlight shining on them--the no confidence votes, DisneyWar, the DE lawsuit, SaveDisney, the media attention, etc.?

Do we really think the institutional shareholders will just stand by and let Eisner continue to rule from the chairmanship?

Sure, it didn't stop Eisner and Mitchell from executing a somewhat meaningless split of the top spots, and installing Iger, but the dynamic is almost bound to change dramatically when Mitchell leaves and Eisner isn't CEO.

 

[raidermatt]

For all this conspiracy I say - yeah, it's likely he and Iger will remain connected on various levels. They worked together for years and Iger won't cut that tie just because disneyites want him to. It's bad business.

No, its not bad business to cut the ties with the guy everybody agrees has outstayed his welcome. Its got nothing to do with disneyites. Its got to do with performance, and not just the short term performance that so many seem incapable of looking beyond.

From both a practical and PR pov, Eisner represents what needs to change at Disney, and this is not just coming from Disney fans. Keeping him around in any kind of susbstantial way is a detriment to the company.

 

[raidermatt]

I get back to the question of who is going to be the new chairman. Will Wall Street accept one of Eisner's cronies as chairman?

When it comes to mature companies, Wall Street has a quarter to quarter viewpoint. Institutional investors look only slightly beyond that. As long as the quarterlies look to be progressing, they will let Disney do pretty much whatever it wants.

Do we really think so little of Iger that just because Eisner became his supporter in recent months Iger will forget everything that Eisner did to him and said about him?

Well, that gets into the maybes. Its doubtful Eisner would throw his support behind somebody who wasn't going to give him what he wanted, whatever that maybe. At the same time, its doubtful Iger would have been the Board's choice without Eisner's support.

No matter what Iger feels about his past treatment under Eisner, holding a grudge in this case probably would have killed his chances to get the job.

So its not far fetched at all to think that Iger would have been willing to wheel and deal with Eisner, if that's what it took. Besides, no matter what Eisner has said and done to Iger in the past, he never fired him or forced him out, and made him the #2 guy.

 

[Plus4206]

If there was behind doors wheeling and dealing between ME & BI, something to the affect of "I'll push you through as CEO now and later,after I step down you beg me to stay on the board" , who's to say that BI doesn't suddenly get amnesia to that conversation ? I'm sure there would be no writen agreement between the two. Maybe BI will have the last laugh afterall.

 

[DancingBear]

No matter what Iger feels about his past treatment under Eisner, holding a grudge in this case probably would have killed his chances to get the job.

But now he's got the job, and, whether Eisner wants to admit it to himself or not, things will never be the same.

 

[gapere]

I wonder what kind of retirement package ME will get at the end of September. What do you give someone that's headed Disney for 20 years (for better or worse) from where it was in 1984 to today? $500 million maybe??

Hmmm, I wonder how much ticket prices will rise...

 

[mitros]

Whatever it is, all of us Disney fans will most assuredly be paying for it!

 

[airlarry!]

I for one believe the jury is still out on MiniME..err...Igor...err...Robert Iger.

Just because M. Ei$ner holds more Ei$ney...err...Disney shares than God himself doesn't mean that the board and the President will listen to what he has to say behind the scenes.

Just because he's left himself an open invitation to 'advise' the board...and maybe even be named Chairman or Mighty Morphin Consultant, doesn't mean the board is going to listen.

Just because he personally rid every dissenting voice on the board, doesn't mean the board is going to listen.

Just because the Street thinks he's boosted the company back to pre-9/11 value, despite the mirage of ABC's latest success, the smoke and mirrors going on in the park numbers, the dearth of traditional animation in the pipeline, and the gambit on an unknown CGI unit, doesn't mean that the Iger is going to cowtow to the street.

And just because after Go.com, Fox Family, Pixar, Miramax, the airplane leases, DLP Studios, Ei$ner's California Misadventure, AK, and the newest one-third day park, HK Disneycounty (not quite big enough to be called a 'World' or 'Land' just yet), the donation of the Disney Stores to TCP, Ei$ner is still riding high on the 'I'm the King of deal making" definitely does not mean that this Board and CEO will listen to him.

And just because...wait...err...what was my original point again?