Disney Chairman Bob Iger explains why he’s leaving the company
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Bob Iger, chief executive officer of Walt Disney Co., waves as he arrives for the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Tuesday, July 5, 2016.
David Paul Morris | Bloomberg | Getty Images
DisneyCNBC spoke with Bob Iger (ex-CEO) about his thoughts on stepping down from the role of CEO. He felt he had become too judgmental towards other opinions and he wanted to be a better leader.
Iger stated that over time I had become less attentive to other opinions and more tolerant of their views. Perhaps this was because I became more self-confident about my own opinion, as is sometimes the case when people get too high,” Iger shared with CNBC. David FaberExclusive interview
After leading the company between 2005 and 2020, Iger (70) is moving on. Although he resigned last year to become CEO and was replaced by Bob Chapek in 2020, he has continued as chairman during the pandemic. His chairmanship will end at the end.
Although Iger did not speak to specific decisions, Iger said that he was becoming more averse to points being made by coworkers as he had “heard all arguments before.” As he thought about his answers, Iger realized that times change and that he wasn’t saying enough.
Iger said, “I was a bit less critical of other people’s views than I ought to have been.” It was an indication that it was already time. Although it wasn’t my reason for leaving, it was an important contributing factor.
Iger admitted that Chapek won’t likely make the same decisions as he did if future problems arise.
Iger stated that the world is rapidly changing and that it was important for a CEO to respond quickly. “Bob [Chapek]they will address them in a different way than mine. That’s not good and it isn’t bad. Change is something I believe in, and generally, it’s a good thing. “Change isn’t always bad.”
Bob Iger (left) and Bob Chapek, Disney
Charley Gallay | Getty Images; Patrick T. Fallon | Bloomberg | Getty Images
Lucas and Murdoch convince Jobs
Iger spoke out about his plans to buy Pixar’s animation studio and Marvel Entertainment, a comic book- and action hero publisher, as well as LucasFilm (home of Star Wars). The three Disney acquisitions combined cost $15 billion and made Disney an enormous intellectual property company.
This is becoming increasingly crucial as streaming video gradually replaces traditional pay-TV and movie theatres as entertainment distribution. Disney is able build an impressive library of movies for children while using its IP to make spinoffs and sequels. This allows Disney+ to continue to attract people month after month.
Iger attributes his ability to convince founders of selling him assets to his dedication to building relationships. Iger stated that he was able to spend months with Steve Jobs and Pixar founders, Star Wars’ creator George Lucas, ex-Marvel chairman Ike Perlmutter and Rupert Murdoch who is Fox controlling shareholder. Disney acquired the majority of Fox’s assetsIn 2019.
Iger stated that it was the development of a relationship. “I didn’t do the deal myself, but it was singular in terms of the pursuit — one on one in some cases — being as candid as I possibly could be, and I think as authentic as I could be, and developing a relationship, even if it was developed over a relatively brief period of time.”
Iger stated that it was up to founders for him to prove that he would not disappoint them following an acquisition.
“He was very, very concerned about Lucasfilm – in many respects his baby, his legacy – and there was a trust there too that I think we demonstrated, that we could be trusted,” Iger said about Lucas.
Jobs said that he was “never disappointed” by Disney’s Pixar integration.
“Once we did the deal, in fact, in the months before he died he came to — he and his wife, Laurene, came to our house. Laurene, Steve, and [Iger’s wife] Willow [Bay]He and I met up for dinner and we toasted the agreement that had been made years ago, feeling confident it was right for Pixar and Disney.
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