The most magical company has been severely dealing with a leadership crisis for the past few years. Thankfully, now the time has come for Disney to search for a new CEO.
The process of finding a new CEO is a long and arduous one…
But what lies in store for the company as they face the search?
Disney’s Search For A New CEO
This year has been a turbulent one for Disney, as most of the company’s most reliable assets have been slipping.
The company’s most reliable source of income in the past few years has been its parks division…
However, they recently reported lackluster spending from park-goers…
The brand’s film and television divisions have also been floundering. This year, thanks to titles such as “Deadpool and Wolverine” and “Inside Out 2,” the company was able to make a slight recovery…
But it pales compared to the box office flops of the past few years.
And its streaming service, Disney+, has only become profitable this year.
NEEDLESS TO SAY, IT SEEMS LIKE IT’S TIME FOR DISNEY TO LOOK FOR A NEW CEO.
The company’s current CEO, Bob Iger’s contract is set to end on December 31st, 2025…
Ideally, Disney’s new CEO would take over starting in 2026.
This is not the first time Iger is preparing for his departure from the role. Iger became CEO in 2005 and originally stepped down at the beginning of 2021. However, the handpicked successor Iger chose, Bob Chapek, was fired by the board of directors after barely three years on the job…
IGER RETURNED AS CEO IN NOVEMBER 2022.
Upon his return as Disney’s (old) new CEO, Iger had many fires to put out…
And the company has been in a shaky state since…
But now, the board of directors is more prepared to name a replacement for the boomerang CEO…
Even though the process is set to take over a year.
The Succession Committee
When the news broke that Disney is looking for a new CEO, it wasn’t just a shakeup in the C-suite…
There was also a change on the board of directors. James Gorman is taking over as the chairman and, more importantly for Disney’s new CEO…
Gorman was appointed as the leader of the succession planning committee. The new chairman is confident that finding a new executive will be a…
“FORWARD-LOOKING, FORWARD-LEANING, INCREDIBLY DISCIPLINED PROCESS.”
Already, the committee has interviewed four candidates from different divisions of the company for the job. These interviewees are in high-profile leadership positions that come from:
- ESPN
- Disney Experiences
- Disney Entertainment
A Whole New World (Of CEOs)
While the question of a new CEO hovers over Disney for a year, the board has stated that if they can’t find a suitable replacement for Iger…
They will extend his contract even further.
During his tenure as chief executive, Iger has pushed back his retirement five times (and counting).
Ultimately, this marks a new future for the company. Once this new CEO arrives…
Let’s see if the brand can keep its magic.
Be Great,
GCTV Staff
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