Disney extends CEO Bob Iger to 2018

October 2, 2014, 12:40 PM · The Walt Disney Company has extended the contract of CEO and Chairman Bob Iger until 2018. Iger was expected to step down as Disney's leader in 2016. Disney is expected to name a COO [chief operating officer] next year, to assist Iger and, effectively, become the heir apparent for the CEO job. Disney has not had a COO since Iger took over the top spot from Michael Eisner in 2005.

Bob Iger

The top two internal candidates for the COO job are current Disney Parks chairman Tom Staggs and former Disney Parks chairman Jay Rasulo. Rasulo is now the chief financial officer at Disney, which is the job that Staggs held before the two swapped positions in 2010.

Replies (14)

October 2, 2014 at 12:52 PM · For anybody who loves Disney's Florida parks, this is awful news. The company needs new blood in the worst way, somebody who sees Walt Disney World beyond its simple value as a financial asset for the company. Iger, Staggs, and Rasulo are the responsible parties for WDW's stagnation, and to know that they're going to continue to be merrily holding hands for (at least) the next four years is disheartening.
October 2, 2014 at 12:52 PM · Just call him Bottom Line Bob.
October 2, 2014 at 3:16 PM · WDW may have stagnated, but a ton of projects are in the pipeline. They didn't close the tram ride at DHS for nothing.

I think this extension of Iger's tenure is a good thing. He done a lot of good things for Disney since Eisner left. He wasn't afraid to acquire a lot of new assets.

October 2, 2014 at 4:16 PM · There's no doubt that Iger's done a pretty good job in the past 9 years. However, I think I have to agree with Brett in that it's probably better to get someone new in after about 10 years. Stay any longer and you risk another Michael Eisner situation where the CEO starts out ambitious, but then later concerns themselves with how they're going to leave with the biggest paycheck possible.
October 2, 2014 at 4:47 PM · If not Mr. Iger ... Then who?
October 2, 2014 at 5:21 PM · ^John Lasseter.... and if the Pixar legend won't do it, then Robert Niles!
October 2, 2014 at 7:44 PM · ^Matt Oimet!
October 2, 2014 at 8:00 PM · Very much agreed. Iger has definitely improved things at Disney since Eisner left. And it is true that Eisner originally revitalized Disney in the late '80's/ early '90's but in the late '90's and early 2000's wanted to cheaply make sequels to classics for profit. Even Steve Jobs and Lasseter weren't putting up with Eisner in his last 10 years, as he was trying to buy Pixar only to not let them have their own distribution rights. That's why they waited until Iger took over for the Pixar buyout to happen. This may be bittersweet news and I definitely agree that while Iger's done a good job so far, Disney should still find a new CEO sooner rather than later so that the same thing doesn't happen to Iger like it did to Eisner.

As far as theme parks go, California Adventure may be the best way to tell the difference between Eisner and Iger. Eisner opened up California Adventure simply for more profit, not even thinking about what Disney Parks are world famous for. Alongside bad resort management at the time, that was why DCA flunked once it opened. Once Iger stepped in, he realized Disney absolutely HAD to improve DCA, and as a result of adding Buena Vista Street and Cars Land and revamping Paradise Pier, it very quickly gave the park a better image, as Cars Land and Buena Vista Street had much more detail and artistry than the old Sunshine Plaza or the Hollywood Pictures Backlot (now Hollywoodland). Designing a theme park attraction/ land is usually a long process. The lack of competition isn't entirely Disney's fault as Universal is very restless these days, retheming and adding to their theme parks.

October 3, 2014 at 1:37 PM · People... you are just talking about the revenue of the theme parks and WDW... that is a small part of the business for Disney... the reality is that they are at all times pumping money into the the US theme parks... but think why they are opening one in Shanghai... because China is almost a virgin Disney place... they can get more revenue in China than the US. Also, the biggest buyouts in the history of hollywood happened with Bob Iger... Pixar, Marvel and Star Wars and those bring billions into the company on ticket sales, merchandising and oh surprise... theme park attractions based on those properties.... so don't get so fanatical about JUST the theme parks.... or just one of them.... there is a much bigger picture and is not bad that he will see it through till stepping down in 2018....
October 3, 2014 at 3:44 PM · MONEY,Money, money $$$$ all about growth & wealth...
How bout putting back the magic.. Into the Magic Kingdom.
I have been a guest of Disneyland in California, and ventured to Disney Japan. Spent 30 years vacationing to & from WDW, and seen a lot of change.
Why on earth have they Expanded Downtown Disney Parking...
When you can barely walk around without being toppled over by crowds..
Expanding Resorts Rooms at The Polynesian, The Grand Floridian, and the other hotels, just for more revenue? while taking away the wonderful scenery..
meanwhile behind the scenes.. the boats that ferry the passengers to & from these resorts say that the lagoon is getting smaller & smaller due to many expansions.(vacation club)
There was a time you could swim in that lake, d The Polynesia had a wave pool that brought waves to the pristine sand beach (its all but history)
The Prime Objective is payday for its executives.. while WDW Casting Employee Base strives to put gas in their cars, make high med insurance payments,and try to get by.
The workers look miserable in the parks, and I watch them get off their shuttle bus to the employee parking lot.. not one smile, or chuckle..
Is that really the way the folks should be at the greatest place in the world to work for ? (quote walt himself)
Hey Boss Iger ... Give back to the workers, and restore the magic that Walt once gave to his staff..
pass it on ...
my comment is my own from observation, multiple trips to the parks & resorts. The staff at Disney World have grown
bitter over the years, and I just ask them why.. they have no problem telling me their grievance.
why does the company turn a blind eye?
Senior_Aviator (retired US Navy)
October 4, 2014 at 3:55 AM · All I know is that when Disney made such a big deal out of stopping all help for The Boy Scouts, we stopped our twice a year trips to WDW and everything even remotely associated with Disney. We vote with our pocketbook. Mr. Iger needs to go if only because of the Boy Scout stupidity.
October 6, 2014 at 5:32 AM · lol I love the comments. I have to admit Mr. Niles you have proven your love for the theme parks beyond just the value of the dollar. I say yes you should be running the WDW.
October 6, 2014 at 9:54 AM · Nancy, Disney stopped supporting the Boy Scouts of America due to the Scouts position on homosexual leaders. Disney are also voting with their pocketbook by not giving money to an organisation who cannot recognise the difference between homosexuality and paedophilia.
October 7, 2014 at 6:34 AM · Dittos to Tom Wilson. As a CM, it is incredible how off balance efforts are between guest experience, and revenue maker. Certainly, I would like to see the company offer a significant pay raise to catch up with the cost of living, However, more importantly is creating an environment that would help me pass on the magic to my guests. I drive a bus, and have noticed less care of the buses (keeping them running and safe, but not fixing their appearance), more potholes in the road surfaces than ever before, and have heard from other CM's similar concerns. We need a Disney to run the company. What happened to the decendants of the magic maker himself? Maybe, instead of working to open another park in a not-so-friendly part of the world, we should halt the growth, and trade it for a little more perfection. Hey Mr. Iger, the magic is in the details. That is what should be passed on to the next COO.

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