Several disney Execs retiring what gives?

[rteetz]

Pete Werner brought an interesting thought today on the Disunplugged podcast show. over the last few months multiple disney executives in important roles have been retiring and Pete mentioned another one is coming very soon but hasn't been announced yet. First in mid January Disney announced Senior Vice President of travel industry sales for Disney parks and resorts Ed Fouche is retiring. Fouche led sales efforts for Disney world, disneyland, disney cruise line, adventures by disney, and Disney's Aulani in Hawaii. He had been with Disney for nearly 25 years. Next in February Randy Garfield president of Walt Disney Travel company is retiring this April. Garfield oversees sales and distribution marketing for the Disneyland resort, walt disney world resort, disneyland paris, hong kong disneyland, disney cruise line, and disney vacation club. Garfield had been with the Walt disney company for 20 years. Most recently Kevin Meyers vice president of hotel operations will retire later this year. Meyers has been with Disney since WDW opened in 1971. After his retirement WDW will merge hotel and transportation operations together and Tom Wolber will take that position who is the former head of sports related business (Wide world of sports and Rundisney) Wolber has also been second in command of DCL. Maribeth Bisienere will move from food and beverage merchandise. She will run sports business and operations at DTD as well as work with the resorts and water parks.

So what gives? why are all these people retiring and it seems more changes are coming? Disney is also merging a lot of major positions together why is that? what is causing these moves? mymagic+? coincidence? something else?

 

[eadavis]

Pete Werner brought an interesting thought today on the Disunplugged podcast show. over the last few months multiple disney executives in important roles have been retiring and Pete mentioned another one is coming very soon but hasn't been announced yet. First in mid January Disney announced Senior Vice President of travel industry sales for Disney parks and resorts Ed Fouche is retiring. Fouche led sales efforts for Disney world, disneyland, disney cruise line, adventures by disney, and Disney's Aulani in Hawaii. He had been with Disney for nearly 25 years. Next in February Randy Garfield president of Walt Disney Travel company is retiring this April. Garfield oversees sales and distribution marketing for the Disneyland resort, walt disney world resort, disneyland paris, hong kong disneyland, disney cruise line, and disney vacation club. Garfield had been with the Walt disney company for 20 years. Most recently Kevin Meyers vice president of hotel operations will retire later this year. Meyers has been with Disney since WDW opened in 1971. After his retirement WDW will merge hotel and transportation operations together and Tom Wolber will take that position who is the former head of sports related business (Wide world of sports and Rundisney) Wolber has also been second in command of DCL. Maribeth Bisienere will move from food and beverage merchandise. She will run sports business and operations at DTD as well as work with the resorts and water parks. So what gives? why are all these people retiring and it seems more changes are coming? Disney is also merging a lot of major positions together why is that? what is causing these moves? mymagic+? coincidence? something else?

I think a lot of it is coincidence. A lot of these now execs started as Cast Members when WDW first opened, 43 years ago. Many of them are at the retiring age. This isn't just happening at the executive level either, there has been a lot of movement in the last few years at many levels due to 35+ and 40+ year Cast Members retiring.

And those that are only at 20-25 years...they too are at similar age ranges. Also, what better time to exercise stock options...

 

[rteetz]

I think a lot of it is coincidence. A lot of these now execs started as Cast Members when WDW first opened, 43 years ago. Many of them are at the retiring age. This isn't just happening at the executive level either, there has been a lot of movement in the last few years at many levels due to 35+ and 40+ year Cast Members retiring. And those that are only at 20-25 years...they too are at similar age ranges. Also, what better time to exercise stock options...

I forgot to add that when Pete talked about this on the podcast today that there is another retired yet to be announced, AD. Whenever he tries to talk about these people retiring with disney executives they get very quiet and weird. So he strongly thinks something is up in the background. He also said that these are shocking retirements these weren't expected.

 

[Figmentforever24]

Do you think there might be some sort of inside motive for retiring? I don't want to sound like the weirdo or anything, but maybe someone higher up is almost forcing them to retire instead of letting them go? This way the top guys look good and innocent while the other guys look like they are ready to be done. I don't really think this is the case, but could it?

 

[rteetz]

Do you think there might be some sort of inside motive for retiring? I don't want to sound like the weirdo or anything, but maybe someone higher up is almost forcing them to retire instead of letting them go? This way the top guys look good and innocent while the other guys look like they are ready to be done. I don't really think this is the case, but could it?

That is what I'm thinking they are all in the same type of department too. The way Pete was talking about it on the show something seems fishy maybe not but no ones talking about it either.

 

[wiigirl]

That is what I'm thinking they are all in the same type of department too. The way Pete was talking about it on the show something seems fishy maybe not but no ones talking about it either.

exactly.

 

[frank430316]

Most of it is probably just coincidence, but there is a lot of stress with management currently. Another to you list btw is the vp of Disney Interactive, who was "encouraged" to leave last November, and of course this month's news - 1/4 of Disney Interactive (over 700 people), who were laid off.

 

[rteetz]

Most of it is probably just coincidence, but there is a lot of stress with management currently. Another to you list btw is the vp of Disney Interactive, who was "encouraged" to leave last November, and of course this month's news - 1/4 of Disney Interactive (over 700 people), who were laid off.

I was just focusing on the interesting point that three people in park and resorts operations are leaving. Again Pete on the show said another big one is supposedly coming and when he talks to people about it they get weird.

 

[Donut23]

I think a lot of it is coincidence. A lot of these now execs started as Cast Members when WDW first opened, 43 years ago. Many of them are at the retiring age. This isn't just happening at the executive level either, there has been a lot of movement in the last few years at many levels due to 35+ and 40+ year Cast Members retiring.

And those that are only at 20-25 years...they too are at similar age ranges. Also, what better time to exercise stock options...

It's about time it hit the Executive Level. Disney has been wicked top heavy.

Remember at the beginning of the recession, just after fellow Castmember Bob got his $38 Million year end bonus, in January there was an across the board 10% layoff for all Disney divisions. Throughout that same year they went division by division and cut more staff.....some places up to 40% more. The years following have been peppered by buyout packages to more senior castmembers. Often positions are never filled, filled with daily hires or by young Pups" out of college at greatly reduced salaries.

DH gets at least 1 or 2 buyout proposals a year. He is warned by his VP who will not consider him for the buyout (too valuable since they fired most everyone else) and 2 1/2 years from retirement, would be stupid!

Funny (actually not so much) these layoffs never seemed to reach the executive level until recently. I guess there were too many executives and not enough trees to hide behind anymore!

 

[rteetz]

It's about time it hit the Executive Level. Disney has been wicked top heavy. Remember at the beginning of the recession, just after fellow Castmember Bob got his $38 Million year end bonus, in January there was an across the board 10% layoff for all Disney divisions. Throughout that same year they went division by division and cut more staff.....some places up to 40% more. The years following have been peppered by buyout packages to more senior castmembers. Often positions are never filled, filled with daily hires or by young Pups" out of college at greatly reduced salaries. Funny (actually not so much) these layoffs never seemed to reach the executive level until recently. I guess there were too many executives and not enough trees to hide behind anymore!

Well these aren't layoffs or firings these are people retiring but the weird thing is they are all doing it around the same time. They could have been forced to retire as well tho.

 

[Donut23]

Well these aren't layoffs or firings these are people retiring but the weird thing is they are all doing it around the same time. They could have been forced to retire as well tho.

Easy.

Take this nice buyout package and we call it retirement. Don't take it, we call it termination. Oh yes, here is an empty box to clear out your desk. Have a magical day.

Hubs has watched it happen all around him. He only survived with seniority and an iron clad union contract which will protect him until he can collect full retirement.

Nothing new. We just recognize more of the names. Very sad.

 

[rteetz]

Easy. Take this nice buyout package and we call it retirement. Don't take it, we call it termination. Oh yes, here is an empty box to clear out your desk. Have a magical day. Hubs has watched it happen all around him. He only survived with seniority and an iron clad union contract which will protect him until he can collect full retirement. Nothing new. We just recognize more of the names. Very sad.

I agree, most of them were with the company for 20+ years and were at retirement age. I just think something is fishy with all of them happening around the same time in the same department and no one is talking about it.

 

[Figmentforever24]

I agree, most of them were with the company for 20+ years and were at retirement age. I just think something is fishy with all of them happening around the same time in the same department and no one is talking about it.[/QUOTE

I think it was all set up. They are just "retiring" so it looks like they are just ready to leave work. Really they are getting fired and the upper management don't want to look like jerks.

 

[rteetz]

That's just it I think something more is going on like Pete said.

 

[Donut23]

It's Disney's never ending budget cuts. I think they finally realized they may have cut the real people a little too much .... So now the will pick on the executives.

I must say, some of these buyout packages are not so bad, especially the compensation based on years of service. Hubby has 35+, he is a smoey, make things work/get it done on time manager and his are always 6 figures. I can only imagine what an executive package would be.

 

[Donut23]

Some may reluctant to leave without big buyouts because not all Disney pensions are funded well. Nice to have that cushion.

 

[Donut23]

If they retire, they cannot collect unemployment. Hey Disney.....a penny saved, well you know the rest.

 

[Donut23]

I forgot to add that when Pete talked about this on the podcast today that there is another retired yet to be announced, AD. Whenever he tries to talk about these people retiring with disney executives they get very quiet and weird. So he strongly thinks something is up in the background. He also said that these are shocking retirements these weren't expected.

Let us know when you hear about the next retirement. I would not be surprised if we see "pockets" of these executives retire in other areas of Disney as they eliminate more. Perhaps they can leave DH alone for a while now!

 

[rteetz]

Let us know when you hear about the next retirement. I would not be surprised if we see "pockets" of these executives retire in other areas of Disney as they eliminate more. Perhaps they can leave DH alone for a while now!

Yes it will be interesting to see who is next.

 

[lugnut33]

I think most of the moves are cost cutting and can be seen in the light of Iger making sure his golden parachute is gigantic. The more money the company is making when he leaves, the bigger his severance package.