by Donald Wood
Last updated: 9:50 AM ET, Wed October 11, 2023
The triumphant return of Bob Iger as CEO of the Walt Disney
Company hasn’t been as triumphant as shareholders would like.
In fact, it’s been harder than he thought.
Iger recently
said that he found Disney in worse shape than he expected when he returned
last year to take over again as CEO from Bob Chapek. He also said there are
times when he feels ‘overwhelmed and exhausted.’
It was under Chapek that Disney started to go downhill,
especially after publicly questioning one of the policies of Florida Governor
Ron DeSantis. It is a feud that has only escalated, and even now, under Iger,
72, the stock price has dropped another nine percent.
Some are looking at this as a possible backhand swipe by
Iger at Chapek and that he didn’t realize the extent of the problems at Disney.
But even Iger made mistakes, negotiating questionable deals
for Disney’s streaming services in his first run as CEO.
Iger was even criticized for his statement about the strikes
from the writer’s guild and SAG-AFTRA. He said their demands were
‘unrealistic,’ while critics pointed out that he makes an annual salary of $27
million.
Iger even joked, “Why did I come back?”
Under his watch, Disney has even been forced to lay off more
than 7,000 people.
A Bloomberg News report said that Iger has difficult
decisions ahead with Disney’s TV operations, and that the company might have to
sell The Disney Channel, ABC and ESPN, among others. Many are privately
wondering if Iger has “lost the magic” he once had.
No wonder he feels overwhelmed and exhausted.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
