By Michelle Chapman | The Associated Press
Behind the red carpet movie premieres and new thrill-inducing rides for fans of its amusement parks, there is a quiet search underway to find the successor to Bob Iger, the face of Disney for most of the past two decades.
Disney went through the CEO search recently, and it was nearly a disaster.
Only two years after stepping down as CEO, Iger returned to Disney in 2022 after a period of clashes, missteps and a weakening financial performance under his hand-picked successor, Bob Chapek.
But how do you replace a chief executive who is considered by many to be the gold standard?
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Iger strengthened the Disney brand through his acquisitions of Pixar, Marvel and Lucasfilm, oversaw the expansion of the company in China and India and had a laser-like focus on technology that both made the Disney product better, and more accessible. Iger, at the same time, is approachable, media savvy and has deftly managed a company that is like no other.
Under Disney’s umbrella are theme parks, movies studios and streaming technology, all with priorities seemingly at odds with each other, or at least vying for the attention of the company’s chief executive.
Disney did not provide succession updates at its annual shareholders meeting on Thursday. Still, the question of who can follow Iger remains on investors’ minds.
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Disney created a succession planning committee in 2023, but the search began in earnest last year when the company enlisted Morgan Stanley Executive Chairman James Gorman to lead the effort.
Gorman said in a January letter to shareholders that the committee had made “strong progress” over the past year.“The full board is engaged in and committed to finding the right leader for the company and we are planning for a smooth leadership transition that will enable Disney’s continued success,” he…
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