Disney CEO Bob Iger Named One of Time’s Most Influential People for 2023

Posted on by Mathew Corn Uncategorized

The Walt Disney Company CEO Bob Iger has made the Time 100 list in the “Innovator” category as one of the most influential people in 2023.

In a four-minute video on the Time website, Iger speaks about his decades-long career with ABC and Disney and how Disney’s values keep it standing.

In a full interview with Time, Iger also spoke about Disney’s ongoing feud with Florida Governor Ron DeSantis, Disney’s recent executive layoffs, and the company’s future.

Iger said of his return, “I was brought back for a reason. The company had gone through a very difficult period, exacerbated by a global pandemic. And more than anything, the company needed stability, needed to establish a set of priorities and focus on them. The only way you end up getting to success is by deciding what the opportunities are, and then organizing your people and your company to go after them.”

Mary Barra, the CEO of GM who is also on Disney’s board of directors, wrote the following about Iger for Time:

For 100 years, the Walt Disney Co. has entertained, informed, and inspired people around the globe through the power of unparalleled storytelling. Bob Iger has guided the company to success for nearly two decades and is one of the best leaders I know.

There’s a reason Bob remains one of the world’s most admired CEOs. He has led landmark acquisitions, championed culture-defining films, launched innovative distribution platforms, and delivered strong financial results, all while never forgetting the people—the employees and the fans—who make it all possible. His return as CEO in 2022 ushered in a new era of transformation and creative excellence for the most magical company on earth.

His authenticity and pragmatism set him apart. “True authority and true leadership comes from knowing who you are and not pretending to be anything else,” he said. I’ve personally learned so much from his leadership.

Bob Iger & Disney

Bob Iger

Bob Iger began working for ABC in 1974, performing menial labor on TV sets and working his way up through the ranks. By 1988, he was serving as the senior program executive for the Calgary Winter Olympics, which achieved record-high ratings for the network.

He was named head of ABC Entertainment in 1989. During his tenure, he greenlit shows that have made lasting impressions like “Twin Peaks” and “America’s Funniest Home Videos.”

He was president of the ABC Network Television Group from January 1993 to 1994. He was named Capital Cities/ABC senior vice president in March 1993 and then executive vice president in July 1993. The next year, he was named president and COO of Capital Cities/ABC.

When The Walt Disney Company purchased ABC in 1995, Iger remained chairman. He was named president of Walt Disney International in February 1999.

He was promoted to president and COO directly under CEO Michael Eisner in January 2000.

In March 2005, Disney announced that Iger would be taking over the position of CEO from Eisner. Eisner officially exited the company in September 2005.

Iger became famous for all of Disney’s acquisitions during his tenure as CEO, starting in 2006 when the company purchased Pixar. Iger also re-acquired the rights to Oswald the Lucky Rabbit that year.

In 2009, Disney purchased Marvel Entertainment, and in 2012, they purchased Lucasfilm. In 2011, Iger became chairman of Disney’s board.

Iger’s CEO contract was extended multiple times, until he officially announced he would retire in 2020. In early 2020, the board of directors named chairman of Disney Parks, Experiences and Products Bob Chapek as his replacement.

Due to the onset of the COVID-19 pandemic, Iger retained many CEO duties as he stayed on as chairman of the board. He officially retired on December 31, 2021.

Not even a full year later, on November 20, 2022, the board of directors fired Bob Chapek and brought Iger back as CEO. He signed a contract to stay on as CEO for two years. He and the board say they are committed to finding a replacement CEO. The new CEO could come from within the company or could be someone like Tom Staggs or Kevin Mayer, who were previously passed over for the position and left Disney. Iger’s contract could also be extended if a suitable CEO isn’t found.

CEO Bob Iger Would ‘Be Glad’ To Meet with Florida Governor DeSantis Over Walt Disney World Feud

Posted on by Mathew Corn Uncategorized

Via wdwnt.com

The Walt Disney Company CEO Bob Iger was named one of Time’s most influential people of 2023 and sat down for an interview with the magazine. During the interview, Time asked Iger about Disney’s ongoing feud with Florida Governor Ron DeSantis, sparked by Disney’s denouncement of Florida’s Parental Rights in Education bill last year.

Time asked Iger, “Did you checkmate Ron DeSantis?” referencing the recent reveal that the Reedy Creek Improvement District had, just before DeSantis’ board took over, passed a number of restrictive covenants which handed most of the District’s power to Disney for a period of at least thirty years.

“Disney World opened just over 50 years ago,” Iger said. “It was the vision and the dream of Walt Disney, probably the most ambitious thing he ever did—turning swampland in Central Florida into a business that employs over 75,000 people, that is visited by tens of millions of people every year, that is a major tourist destination in the United States, and for the state of Florida, that creates huge value for our company and its employees, and for the state of Florida itself. Our sole goal in Florida is to continue creating that value for all those constituencies. All we want is a relationship with the state that enables us to continue to do that. We have the wherewithal and we have the desire to continue to invest there to grow that business so that we can hire more people so that we can increase our attendance, and so that we can basically increase more value for the Walt Disney Company and for the state of Florida. It’s that simple.”

Time continued, “Usually, you’re very much a let’s-sit-down-and-get-past-our differences guy, and much less a let’s-go-to-the-mattresses guy. Is there no trying to meet with the governor?”

“I do not view this as a going-to-mattresses situation for us,” Iger said. “If the governor of Florida wants to meet with me to discuss all of this, of course, I would be glad to do that. You know, I’m one that typically has respected our elected officials and the responsibility that they have, and there would be no reason why I wouldn’t do that.”

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Earlier this month at Disney’s annual shareholder meeting, Iger accused Gov. DeSantis of punishing Disney for exercising their right to free speech. “We love the state of Florida,” he said, citing the company’s various investments in the community over the years and saying he respected and appreciated what the state has done for Disney in the past. “Any action that thwarts these efforts simply to retaliate is anti-business and anti-Florida.”

Reedy Creek’s final moves shocked DeSantis and the Central Florida Tourism Oversight District board, who expressed disbelief at Disney’s actions and retained multiple law firms to fight the agreement in court. DeSantis ordered a criminal investigation into Disney and the old board.

DeSantis also promised to double down on his efforts to punish Disney through methods both in the Legislature and the Central Florida Tourism Oversight Board. Notably, he promised to hike Disney’s hotel taxes and institute tolls on the roads around Walt Disney World Resort property now administered by the CFTOB.

Company Investing $17B in Walt Disney World Over Next 10 Years

Posted on by Mathew Corn Disney Parks

When addressing the situation in Florida with Governor DeSantis, Reedy Creek Improvement District, and Disney, CEO Bob Iger noted that The Walt Disney Company will be investing billions in Walt Disney World over the next 10 years.

Mandatory Credit: Photo by Jordan Strauss/Invision/AP/Shutterstock (10507025y) Disney CEO Robert Iger arrives at the world premiere of “Star Wars: The Rise of Skywalker”, in Los Angeles World Premiere of “Star Wars: The Rise of Skywalker” – Arrivals, Los Angeles, USA – 16 Dec 2019

Iger stated that they are planning on investing $17 billion in Walt Disney World over the next 10 years. They will be creating 13,000 new jobs, leading to thousands more indirect jobs, as well as attracting more tourists.

Iger cited the 75,000 employees they have in Florida and 50 million visitors they have brought in this year alone, including 8 million internationally. He pointed out that Disney is the largest taxpayer in the state.

Layoff Shock & Disbelief Rain Down at ABC News

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Thursday will go down as a very dark day for ABC as Disney’s forecasted layoffs reached the network’s news division, making employees keenly aware of the fact that no one working under the Disney name is safe from CEO Bob Iger’s job cuts. And we mean no one.

Shock and disbelief rushed through the doors, down the corridors, and into the offices and studios at ABC News on Thursday as Disney’s massive layoff initiative became painfully personal for many employees at the Disney-owned news division. The wave of cuts reached as far as the senior executive level at the news organization, setting into motion a massive newsroom restructuring while an even broader downsizing rained down in other parts of the Disney Company universe.

The cuts are part of a widespread effort to reduce salaries and purge Disney of “useless” employees on the way to saving The Walt Disney Company more than $5.5 billion.

“Throughout the company, teams are being impacted by the downsizing that was announced several weeks ago, including our own ABC News family,” ABC News President Kim Godwin said to staffers via interoffice memo. “While these actions are never easy, they are a necessary step to ensure we’re on solid footing for the years ahead as we chart a sustainable, growth-oriented path forward for the entire organization.”

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Among those dismissed on Thursday were senior vice president of newsgathering Wendy Fisher, Galen Gordon, senior vice president of talent, Mary Noonan, vice president of talent, Los Angeles bureau chief David Herndon, vice president of communications Alison Rudnick, senior executive producer Chris Vlasto; and executive editorial producer Heather Riley.

Those closest to the matter say staffers were shocked by the laying off of so many high-level execs at ABC News.

“There’s a ton of shock that’s gone through the newsroom,” one ABC News staffer said. “So many people with institutional knowledge are gone.”

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The cuts reportedly totaled 50 across the ABC News organization, including some roles that were open and not yet filled.

“While this is a difficult time for all of us – particularly those directly affected by these tough decisions – it’s important to remember that together, we are resilient, and will emerge from this period of transition stronger than before,” Godwin continued in her memo to staff members.

On Thursday, Godwin said she promoted Katie den Daas, London bureau chief, to the role of vice president of newsgathering. She also said that Derek Medina, executive vice president, will now be in charge of talent strategy. Stacia Deshishku, executive editor and senior vice president of news at ABC, will now oversee investigating and enterprise units.

“In the coming days and weeks, we will share additional information about these teams and our plans,” Godwin said.

4,000 Disney Employees to Be Fired in the Next Two Weeks

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Shocking news has just been revealed about the layoffs within the Walt Disney Company.

Since CEO Bob Iger replaced Bob Chapek and returned to leadership in November, he has made it clear that he is determined to cut costs for the company. Many assumed that the cost-cutting measures would include employee lay-offs, but nothing was confirmed until later in the year. Fans were saddened to hear Iger reveal during a February quarterly results call that his plan to save money includes eliminating over 7000 jobs. Now, Insider has reported that many of those layoffs will be happening sooner than originally thought.

A Dark Day for the Walt Disney Company

It has been revealed that Disney CEO Iger is reducing the number of employees at a rapid pace. Managers at Disney have been given orders to reduce their budgets and reduce their employee numbers. For the past two weeks, Disney has been making brutal cost savings decisions. Executives at the company are currently preparing budget cuts in all departments.

These executives have been assigned to create a list of employees that they deem to be redundant and disposable. These lists will be turned in to higher-ups in the next couple of weeks. After the lists are turned in, employees who are on them will be informed of their termination. It is unclear if the layoffs will happen in waves or all at once.

A staggeringly large number of employees will be included on the layoff lists. Out of the 7,000 jobs that were announced to be cut, 4,000 of those jobs will be on the upcoming list. That is a huge amount of employees, and this news is truly shocking to hear.

In total, Bob Iger hopes to save the Walt Disney Company $5.5 billion. As the due date for the significant transformation draws near, the public will anxiously wait to see when terminations will happen and what areas will be affected the most.