Bob Iger Tells Disney Town Hall Hiring Freeze Still In Effect, No New Acquisitions Planned & Not Merging With Apple –

“There’s still a lot to do,” Bob Iger told Disney staff today about the state of the company now that it’s back on track. “Soon,” the newly minted CEO announced his official return at a town hall at the company’s Burbank headquarters.

The 71-year-old executive also said that his pink-slipped predecessor, Bob Chapek, had announced on Nov. 11 that a hiring freeze had remained in place. Offering his perspective on being out of the company last year after decades at Disney, Iger further told staff that rumors of a merger or deal with Apple were just that — rumors. The man who bought Pixar, Marvel, Lucasfilm and Fox for Disney in his last stint as CEO also noted that the House of Mouse doesn’t plan on making big-ticket acquisitions anytime soon. Is.


Held before a capacity crowd at Disney’s main corporate campus, the town hall was also live-streamed to employees around the world on Monday. Fielding questions after a quick five-minute speech, Iger gushed that his wife pushed him out of retirement so he wouldn’t consider another White House bid.

It comes just a week after Iger returned to his perch at House of Mouse and Chapek was unceremoniously shown the door, in an effort by the once-and-current CEO to rally the Disney troops for the media giant. It has come at a dangerous time. On the one hand, Disney has the top movie in the world. Black Cheetah The sequel Wakanda forever. However, this past weekend the company also raked in more than $100 million with the animated feature Crash and Burn at the box office. strange world. In this context, James Cameron’s release on December 16 was highly anticipated. Avatar: The Path of Water Potentially creates more big-screen success and financial strain for the studio.

Within hours of his unexpected CEO reshuffle on Nov. 20, Disney’s short-lived Chapek quickly purged the upper ranks of top lieutenants, leaving the company even to the infamous successor, the unborn Iger. There is a 24-month to leave in stable hands. Floundered almost from the get-go with Chapek.

Somewhat anti-climactically, according to one source, a 40-minute town hall today found Iger pushing back against Florida’s discriminatory “don’t say gay” law that overturned Chapek earlier this year. Essentially, noting that you can’t please all the people all the time, Iger said the issue should not be a political issue, we hear.


Earlier today, Iger took to Twitter, which he once considered shopping for Disney, to put an optimistic face on his early return to the Burbank headquarters.

In that regard, Disney shares initially rallied a week ago on news of Iger’s return, but have come back down to earth, down about 3 percent today to close at $96. After Chapek managed to steer the company through the ordeal of Covid-19 in 2020, the stock ended the year higher but is down 40% so far in 2022 as investors take note of the company’s troubled finances. Have a more clear look. . Just before Egger pulled back, it hit a new multi-year low of $86.28, the lowest level since early 2020.

The company’s push into streaming, which was started by Iger and continued through Chapek’s run, has squeezed profits, and additional economic pressures have led executives to forecast single-digit growth in revenue and profit for fiscal 2023. persuaded to do were predicting.

Iger also faces the question of whether to redraw the corporate map of how the various divisions are organized and their results reported. Chapek divided the company into just two divisions: Parks, Experiences and Products; and media and entertainment distribution. DMED’s guiding principle was Chapek’s centralization of divisional decisions under his now-deposed lieutenant Karim Daniel. With Iger announcing his intention to scrap key elements of the DMED scheme and return P&L control and distribution decisions to key creative executives, the question now is whether he will give the company its best shot at holding more units. Also returns the previous form.



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