Bob Iger is preparing to say goodbye with an encore.
Disney’s CEO is starting to build on the expected news that a change of government at the top of the Mouse House is planned by the first quarter of next year. In October 2024, Disney’s board of directors vowed to spell out a succession plan for Mr. Iger, who will have held the top job for 20 years by December 2026, when his current contract ends.
Iger reflected on his time at Disney in an interview with British podcasters Tom Holland and Dominic Sandbrook, hosts of the long-running podcast series “The Rest is History.” In an article published Wednesday, the pair focused on the creation of Disneyland in the mid-1950s. Iger, a longtime fan of the podcast, agreed to sit down and interview the hosts and take guided tours of the Disney archives in Burbank and the Magic Kingdom in Anaheim.
Holland and Sandbrook politely but firmly pressed Iger about the impending transition. Mr. Iger has stepped down as Disney’s CEO after a monumental 15-year tenure as a media and entertainment executive. Iger will permanently leave Disney at the end of 2021. But by November 2022, Iger had returned as CEO after his first successor, studio veteran Bob Chapek, had a shaky tenure during a volatile time for the economy and the country as a whole. Industry speculation about Iger’s successor is currently focused on two internal candidates: Disney Entertainment Co-Chairman Dana Walden and Disney Experience Chairman Josh D’Amaro.
Iger did not directly address Chapek’s shuffle or handover, but spoke about how he views his accomplishments and what he has learned after 40 years at Walt Disney Co. and more than 50 years in the entertainment industry. Holland and Sandbrook pressed Iger about how he would like his tenure as director of the Mouse House to be remembered.
“Given Disney’s standing in the world, I think those who run the company have a certain special responsibility to maintain Disney’s standing as a beloved company, as a admired company, as a company that entertains people of all ages and walks of life around the world,” Iger said in the episode “Disneyland: A Modern American Utopia.”
“More than anything, I want to be known as someone who’s been given the keys to this kingdom, so to speak, and that’s just the kingdom, and that I’ve taken this kingdom to a place that even Walt would be proud of. And that means telling more great stories to wider audiences, innovating more, taking more risks, and creating more true happiness. It’s really that simple,” Iger says. “At one point, I thought, Okay, so you’re running Disney now. What do you want most from Disney? Well, don’t mess with it, but it’s more than that. I’ve been really conscious of the obligation I feel I have to make Disney even better than it already is.”
As Disney celebrates its 100th anniversary in 2023, what will the next 50 years look like for his successor? Protect your brand, Iger advises.
“The world is changing in very rapid and profound ways, and as we look to the future, I want my successor to respect our past and fully recognize and advance the values that really created the company’s value in the first place, but not to let what was done in the past get in the way of taking the company into the future,” says Iger. “And it’s really constant innovation, constant exploration, a constant desire to reinvent, or above all, to invent. That’s what I hope. But I think we have a certain place in the world as great storytellers, maybe the greatest in many ways, and I hope that position continues for many years and decades to come.”
Much of the interview was spent discussing the innovations of Walt Disney, a creative visionary who died in 1966 at the age of 65. Eiger turned out to be a source of knowledge about the company’s founder. Looking through the list of Walt Disney’s awe-inspiring accomplishments, his respect for Walt Disney’s relentless business legacy and relentless commitment to innovation is clear.
A desire to invest in cutting-edge technology, research and development, and experimental materials is in the DNA of a Missouri artist and entrepreneur who took a gamble with his company to release Hollywood’s first animated feature, 1937’s “Snow White and the Seven Dwarfs.”
“If you ask how much everything costs before you make it or even think about making something, you end up not making as much as you should have,” Iger says.
Walt Disney was never one to be “intimidated” by new technology, Iger added. Quite the opposite. It is well known that he turned to the rapidly growing medium of television to raise funds for the construction of Disneyland. We call this TV’s first documentary series.
“Walt, as we know, was not only a great storyteller, but one of the greatest salesmen of all time at the time, and he decided that he should have a television show, not just to raise money, but to sell the product. So he licensed it to ABC, and that show basically told the story of the construction of Disneyland,” Iger says. “So when I was 3, 4, 5 years old, I was watching a show on a little black-and-white TV where Walt not only talked about building Disneyland, but actually saw Disneyland rise out of the ground in Orange County, California. And I remember it being incredibly ambitious. In fact, I think it served hundreds of millions, billions of people around the world. It looked like something that had never existed before, entertainment that he had really invented.”
The hosts spoke with Iger about how Disney is globalizing media and culture at a brand synonymous with Americana, both past and present.
“For us, it’s not about being less American. It’s about making the world more appealing and being aware of cultural differences and cultural passions. For example, when we were building Shanghai, the design brief I gave the team was, let’s create something that is authentically Disney but distinctly Chinese,” Iger says.
“Because we wanted to create something that was very Disney-like to them, and they wanted to create something that was very respectful of their own culture and felt as if it was their own, while keeping in mind what Disneyland is like. Again, it’s more of a purpose to be respectful and harmonious than to distance yourself from things like letting the French drink wine,” he says. “I think there were learnings about approaching a country and culture with a little more sensitivity and respect. We took those learnings seriously and were careful not to make the mistakes we’ve made in the past when designing Shanghai.”
Check out the interview below.
