“I’m a Little Nervous for Bob” — Michael Eisner Comments on Disney CEO Iger

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Disney fans and investors have had plenty to say about the CEO shakeup at The Walt Disney Company in November.

Fab Five celebrates 100 Years of Walt Disney Company!

The company is celebrating its 100th anniversary this year, but its leaders are still facing challenges. Now a longtime former Disney CEO is speaking out.

Other than this “welcome back” Tweet on the day after Iger’s return to the CEO office, former Disney CEO Michael Eisner has not had a lot to say about what’s happening at Disney — until now.

Welcome back to Disney, @RobertIger!

— Michael Eisner (@Michael_Eisner) November 21, 2022

Eisner talked with CNBC about the CEO change-up, saying, “I think it was a great move for Disney. I’m a little nervous for Bob because he left with a 10++++ rating, and to continue that is not easy.”

In Iger’s little more than 100 days back in the CEO role, he has put to rest a challenge from an activist investor, pleased Disney Parks fans by rolling out some new perks, and announced a major restructuring of the company. But, there are still challenges ahead. Disney’s stock price continues to be volatile, as investors contend with the company’s continuing losses related to its streaming business.

©Google Finance

Iger has also announced $5.5 billion in cuts for the company. Eisner said he believes Iger is up for the job.

“I think he will achieve it. There are headwinds there he has to deal with, some of which were there before he left,” the former CEO, who led Disney from 1984 to 2005, said. “I’m rooting for him.”

©Reuters | Disney CEO Bob Iger

But what about former Disney CEO Bob Chapek, who Eisner initially hired?

“I like Bob Chapek,” Eisner said. “He did the parks – he did really very well in the parks. Maybe he was the wrong guy for that particular job.”

Bob Chapek and Bob Iger ©CNBC

Another challenge that lies ahead — succession. It’s a challenge Michael Eisner also faced, and one that Iger failed at in choosing Chapek as the company’s next CEO. Iger recently confirmed that the company’s succession committee — led by Disney Board Chairman Mark Parker — meets regularly. The committee is reportedly considering internal candidates, as well as “out of the box” candidates like NBA Commissioner Adam Silver.

Bob Iger and Adam Silver | ©Disney

“I think the board was right in bringing Bob back. Bob was pretty right going back,” Eisner told CNBC. “I think he loves the company, and I think all’s well and will end well, but it’s gonna be awhile.”

Bob Iger Comments on the Search for Disney’s Next CEO

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The post “I’m a Little Nervous for Bob” -- Michael Eisner Comments on Disney CEO Iger first appeared on the disney food blog.

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