Disney CEO Bob Iger Reflects on His Controversial CNBC Interview

Disney CEO Bob Iger recently admitted in a podcast interview that his comments in a CNBC interview last year about linear TV assets not being central to the company were a “mistake”.

Regret Over Public Remarks

Iger expressed regret for his public remarks, acknowledging that while his observations weren’t incorrect, they caused unnecessary stress. He admitted that he should have been more considerate of how his words would be interpreted and felt by those vital to him, including Disney legends.

Clarifying His Intentions

The Disney CEO elucidated on his thought process leading up to his July 2023 CNBC appearance. This interview coincided with a period of significant cost-cutting, reorganization, and strategic planning within the company. Iger stated that his intent was to convey a sense of open-mindedness to Wall Street about the company’s future. He wanted to assure them that he was not oblivious to the realities of the business. However, his decision to state that “everything’s on the table” was, in retrospect, a mistake.

Podcast Interview Insights

The podcast interview, conducted at ABC’s New York headquarters, was a blend of business and lifestyle discussions. Topics ranged from Iger’s favorite cheese (mozzarella) and artists on his personal music playlist (including country singer Zach Bryan), to his physical appearance at age 73. Iger also discussed his brief consideration of a presidential run in 2020 and the current succession process at Disney, which he referred to as “a huge priority”.

Business Highlights

The interview did reveal some business insights. When asked about his achievements during his two tenures as CEO (2005-2020 and 2022-present), Iger highlighted the $73 billion acquisition of most of 21st Century Fox. Despite criticism from industry professionals and Wall Street about the high price of the deal, Iger pointed to the Emmy nominations as a significant benefit.

Emmy Nominations

Shows like Shogun and The Bear, which contributed significantly to Disney’s total of 183 Emmy nominations, came as part of the FX acquisition. Iger mused that without this acquisition, the number of Emmy nominations would have been significantly lower.

Post-CEO Life

Iger dismissed rumors that he was restless during 2020 and 2021, after stepping down as CEO. He stated that he enjoyed the lack of a lengthy to-do list and the absence of stress associated with his previous role. He relished the luxury of having enough stimulation without any stress.

Future Plans

Iger’s contract with Disney extends until the end of 2026. The company’s succession committee is currently considering potential successors, including top Disney executives like Jimmy Pitaro of ESPN, Josh D’Amaro of theme parks, and Dana Walden and Alan Bergman, Co-Chairmen of Disney Entertainment.

Conclusion

In conclusion, Bob Iger’s recent podcast interview provided intriguing insights into his tenure as Disney’s CEO, his controversial CNBC interview, and his plans for the future. Despite the initial backlash, Iger’s open-minded approach to the future of Disney has set the stage for the company’s continued success.

FAQs

What did Bob Iger say in his CNBC interview?

In his CNBC interview, Bob Iger stated that linear TV assets may not be central to Disney’s future, a statement he later admitted was a mistake.

What is Bob Iger’s contract period with Disney?

Bob Iger’s contract with Disney extends until the end of 2026.

What were the significant achievements of Bob Iger’s tenure as Disney’s CEO?

One of the significant achievements of Bob Iger’s tenure was the $73 billion acquisition of most of 21st Century Fox.

Credit: deadline.com