Bob Iger is set to leave Disney for good at the end of 2021, analyst Rich Greenfield suggests he could stay in the role of executive chairman for years — without day-to-day responsibilities — “like a CEO without the stress.' KimMasters reports:
As the company elevates Bob Chapek to the top job amid coronavirus fears and economic turmoil, his predecessor will still hold the creative reins"like a CEO but without the stress."
The stock price has dropped sharply since then, which may provide hints about the reason for the hurry. The sense of haste seemed particularly out of character for Iger, who would be expected to design at least the appearance of a smooth, calm transition — “because everything Bob has done is perfect,” as a former Disney exec puts it. Iger is widely known as exceptionally image-conscious and deliberate about presentation. But when he and Chapek were interviewed together on CNBC, a couple of old Disney hands commented that the appearance seemed uncharacteristically slapped together.
Despite Disney's wealth of cartoon characters, superheroes and Jedi knights, making the streaming service a must-have could be a more daunting challenge than many might have imagined. That might explain why Iger feels a need, as he said when announcing the transition, to focus on the creative side in his new role of executive chairman. Still, none of that explains the abruptness of the change.
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