Bob Iger Brings Back Former Disney Executives

This is BIG Disney news. Bog Iger has reached out to former Disney Executives for help.

Bob Iger Extends Contract

Bob Iger returned to Disney in November 2022. Since returning, one of his key focuses has been changes to Disney’s streaming service, Disney+. The Walt Disney Company has shared that his vision with the company focuses on three pillars: generating the best creative content possible; fostering innovation and utilizing the latest technology; and expanding into new markets across the globe.

Here is the official statement concerning the extension:

“The Walt Disney Company Board of Directors announced today that Robert A. Iger has agreed to continue to serve as Chief Executive Officer through December 31, 2026. In voting unanimously to extend Iger’s contract by two years, the independent members of the Board of Directors noted that Iger’s extension provides continuity of leadership during the company’s ongoing transformation, and allows more time to execute a transition plan for CEO succession, which remains a priority for the Board. Iger said.“

Hiring Freeze and Layoffs

Before his departure, Bob Chapek announced a hiring freeze for the company. He stated, “Hiring for the small subset of the most critical, business-driving positions will continue, but all other positions are on hold.”

In November, Iger hosted a Town Hall meeting and addressed this hiring freeze. Iger shared, He stated that he did not have any plans to reverse the freeze. The layoffs happened in waves, with a total of 7,000 employees planning to be let go. You can read more about the layoffs HERE.

Recently, Iger has turned to some former Disney Executives for help to get this company moving in the right direction again.

Former Disney Executives Brought in

Bob Iger has brought in Tom Staggs and Kevin Mayer as consultants for media as Disney figures out its next strategy. The plan is for these two to is to dive into ESPN and potentially other areas of the company.

Both Staggs and Mayer were once in the running for CEO of Disney, however both were passed up on the job. A Disney spokesperson was not available for comment, while a Candle (Staggs and Mayer’s company) spokesperson refused to comment.

Iger has brought on former Disney Executives Tom Staggs and Kevin Mayer as consultants for media.

The goal would be for them to take a look at the company’s linear properties and how they will line up with Disney’s streaming strategies. It is also important to note that Candle, the company that Staggs and Mayer co-own and still run, are acquiring more Disney-friendly content. Could this mean a shift that Disney could be willing to buy another company versus sell? Only time will tell.

What do you think of these two former Disney Executives being brought on to consult with Iger? Do you think it will help the company to move forward? Let us know in the comments below and be sure to share this post with a friend.