The Disney Narcotic.....

[bom_noite]

Sorry, have been busy for 3 months and have not caught up - perhaps debated and I missed it! But, this thing on Iger staying caught my eye: http://finance.yahoo.com/news/disney-extends-ceo-igers-tenure-201134230.html

Is this not where we left off during Eisner: "Uhhhhhhhh, sorry - nobody is as good as I am to lead this corporation - nobody understands it like me!"

Not sure what to think - in a way I think Iger has been PERFECT in that he righted some wrongs and calmed the situation. I felt Iger had a better handle on things then Eisner did and served as the perfect replacement.

On the other side, I think Eisner and (now potentially) Iger both felt that they were the new Walt (and would we not all wan't that feeling?).

Certainly cannot debate a 200% return under Bob's watch....... Could be the Board is saying: "Still uncertainty in the economy - and we are rocking! Would you mind hanging in a bit longer?"

On the other hand, with Roy and Gold gone - my fear is that there is no antagonist in the realm. Would love to see one of the Disney Daughters / Heirs be the guide-post of the company!

My feelings - debate please.

 

[davedmaine]

IDK, Disney is a public company not a monarchy. I agree that Roy Jr's campaign to fend off the hostile takeover of the company directly led to its success today; but I'm not sure any other relatives who haven't been involved in day-to-day activities (like Roy Jr was) would be in any position to move the company forward. Just because they were born on third base, doesn't mean they hit a triple.
There's no doubt that Iger has been a star -- picking put up Pixar and Marvel will certainly be regarded as two of the best acquisitions any 'media/entertainment' company has ever made. And delivering almost 200% returns to investors is rock solid. The board did the right thing.
I'd be interested in learning what effect (if any), this move will have on Disney succession plans.
Also keep in mind that Disney has moved to extend Iger in the past. They did so just after Steve Jobs died.
Interesting post.

 

[OKW Lover]

Sounds to me like the board isn't convinced that they have a good succession plan right now. The two obvious candidates, Jay Rasulo and Tom Skags, perhaps haven't yet proven themselves to the board. So, lacking a clear best candidate for the job, the board punted, giving themselves more time to pick a successor.

 

[mm1971]

Sounds to me like the board isn't convinced that they have a good succession plan right now. The two obvious candidates, Jay Rasulo and Tom Skags, perhaps haven't yet proven themselves to the board. So, lacking a clear best candidate for the job, the board punted, giving themselves more time to pick a successor.

This sounds reasonable to me. If there was a suitable replacement that had the boards confidence, I'm sure they would make the change as planned. Maybe he is staying on to mentor the new candidate(s) to make sure everything is in order before his departure.