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Bob Iger

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Bob Iger
Iger in June 2013
Born
Robert Allen Iger

(1951-02-10) February 10, 1951 (age 74)
New York City, New York, U.S.
Alma materIthaca College
Years active1974–present
TitleChairman and CEO of The Walt Disney Company
Political partyDemocratic (until 2016)
Independent (since 2016)[1]
Board member ofThe Walt Disney Company
Apple Inc.
Spouse(s)Kathleen Susan (divorced)
Willow Bay (m. 1995)
Children4
Signature
File:Robert A. Bob Iger signature.svg

Robert Allen Iger (/ˈaɪɡər/; born February 10, 1951) is an American media executive and businessman who is Chairman and Chief Executive Officer (CEO) of The Walt Disney Company. Before working for Disney, Iger served as the President of ABC Television from 1994–95, and as President/COO of Capital Cities/ABC, Inc. from 1995 until Disney's acquisition of the company in 1996.

He was named President and COO of Disney in 2000, and later succeeded Michael Eisner as CEO in 2005, after a successful effort by Roy E. Disney to shake up the management of the company. As part of his yearly compensation, Iger earned $44.9 million in 2015. During Iger's tenure, Disney broadened the company's roster of intellectual properties and its presence in international markets; Iger oversaw the acquisitions of Pixar in 2006 for $7.4 billion, Marvel Entertainment in 2009 for $4 billion, Lucasfilm in 2012 for $4.06 billion, and 21st Century Fox in 2019 for $71.3 billion, as well as the expansion of the company's theme park resorts in East Asia, with the introduction of Hong Kong Disneyland Resort and Shanghai Disney Resort in 2005 and 2016, respectively.

Iger was a driving force behind the reinvigoration of Walt Disney Animation Studios and the branded-release strategy of its film studio's output. Under Iger, Disney has experienced increases in revenue across its various divisions, with the company's market capitalization value increasing from $48.4 billion to $163 billion over a period of eleven years.

In April 2019, Abigail Disney, granddaughter of Walt's brother Roy, claimed that the increased annual compensation of Disney's Chief Executive, Bob Iger, “deepened wealth inequality”. Iger made $65.6 million in 2018 – 1,424 times the median salary of a Disney employee, which included a one-time stock grant for extending his contract to oversee the acquisition of 21st Century Fox. The Walt Disney Company responded by saying, "Disney has added more than 70,000 jobs during Mr. Iger's tenure and has made historic investments to expand the earning potential and upward mobility of our workers," adding that they had implemented an hourly minimum wage at Disneyland of $15/hour and are spending $150m on an education initiative to provide free college training. Iger had previously announced that he will step down as CEO of Disney when his contract expires at the end of 2021.[3]

Early life[]

Iger was born to a Jewish family in New York City.[4][5][6] He is the son of Mimi (née Tunick) and Arthur L. Iger (b. 1926).[7][8] His father was a World War II veteran who served as the executive vice president and general manager of the Greenvale Marketing Corporation, and was also a professor of advertising and public relations.[7] His mother worked at Boardman Junior High School in Oceanside, New York.[9][10] Arthur's father Joe (i.e. Robert's paternal grandfather) was cartoonist Jerry Iger's brother.

He was raised in Oceanside, where he attended the Fulton Avenue School and graduated from Oceanside High School in 1969.[11][12] In 1973, he graduated magna cum laude from the Roy H. Park School of Communications at Ithaca College with a Bachelor of Science degree in Television and Radio.[13]

Career[]

Iger began his media career in 1972 as the host of "Campus Probe", an Ithaca College television show. He dreamed of becoming a news anchor while he worked as a weatherman in Ithaca for five months, before shifting his career goals.[14][15]

American Broadcasting Company (ABC)[]

In 1974, Iger joined the American Broadcasting Company (ABC).[16][17] In 1989, he was named head of ABC Entertainment.[18] He served as president of the ABC Network Television Group from January 1993 to 1994, and was appointed as Capital Cities/ABC senior vice president in March 1993 and executive vice president in July 1993.[19] In 1994, Iger was named president and chief operating officer of ABC's corporate parent, Capital Cities/ABC.[20]

The Walt Disney Company[]

In 1996, The Walt Disney Company purchased Capital Cities/ABC and renamed it ABC, Inc., where Iger remained president until 1999.[4]

On February 25, 1999, Disney named Iger the president of Walt Disney International, the business unit that oversees Disney's international operations, as well as chairman of the ABC Group, removing him from day-to-day authority at ABC. Disney called the change a promotion for Iger.[21]

Disney named Iger the president and chief operating officer (COO) on January 24, 2000, making him Disney's No. 2 executive under chairman and CEO, Michael Eisner. Disney had been without a separate president since Eisner assumed the role following the departure of Michael Ovitz in 1997, after sixteen months at Disney.[22]

As a result of a successful effort by Roy E. Disney to shake up the management of the company, Disney began a search for the next CEO to replace Eisner. On March 13, 2005, Disney announced that Iger would succeed Michael Eisner as CEO, and Iger was placed in charge of day-to-day operations, though Eisner held the title of CEO until he resigned on September 30, 2005.[23] One of Iger's first major decisions as CEO was to reassign Disney's chief strategic officer, Peter Murphy, and disband the company's Strategic Planning division.[24] Prior to Iger being named CEO, board members Roy E. Disney and Stanley Gold began a campaign called "save Disney" against Eisner.[25] In July 2005, Disney and Gold dropped the campaign and agreed to work with Iger.[26]

On January 24, 2006, under Iger's leadership, Disney announced it would acquire Pixar for $7.4 billion in an all-stock transaction.[27] In the same year, Iger also re-acquired the rights to Walt Disney's first star, Oswald the Lucky Rabbit, from NBCUniversal by releasing sportscaster Al Michaels from ABC Sports to NBC Sports.[28]

Also in 2006, Roy E. Disney issued this statement regarding Iger:

Animation has always been the heart and soul of The Walt Disney Company, and it is wonderful to see Bob Iger and the company embraces that heritage by bringing the outstanding animation talent of the Pixar team back into the fold. This clearly solidifies The Walt Disney Company's position as the dominant leader in motion picture animation and we applaud and support Bob Iger's vision.[29]

In August 2009, Iger spearheaded negotiations that led Disney to acquire Marvel Entertainment and its associated assets for $4 billion. As of August 2014, Disney has recouped over $4 billion at the box office through the Marvel movies.[30] On October 7, 2011, Disney announced that Iger would become chairman of the board, following John Pepper's retirement from the board in March 2012.[31] On Tuesday November 15, 2011, Apple, Inc., led by CEO Tim Cook, named Iger to its board of directors. Iger was responsible for making Steve Jobs Disney's largest shareholder by its acquisition of Pixar.[32]

In October 2012, Iger signed a deal with film producer George Lucas to purchase Lucasfilm Ltd. for $4 billion following several months of negotiations. As a result, Disney acquired the rights to the Star Wars multimedia franchise and Indiana Jones.[33] Following its release on December 18, 2015, Star Wars: The Force Awakens grossed over $2 billion at the box office. In March 2016, Iger announced that the $5.5 billion Shanghai Disney Resort would open its doors on June 16, 2016.[34] In May 2016, Iger wrote in a Facebook post claiming that Disney has hired 11,000 new employees in the past decade at Disneyland, and 18,000 in the past decade. Iger specifically targeted Vermont Senator, Bernie Sanders, asking him how much he has contributed to job growth.[35]

Iger's contract as Disney's chairman and CEO was originally planned to run until June 30, 2018;[36][37] however, in March 2017, Disney announced that it was extending Iger's term to July 2, 2019, and said he would serve as a consultant for the following three years.[38][39] In December 2017, Disney extended Iger's contract through 2021.[40]

In July 2018, under Iger's leadership, Disney and 21st Century Fox shareholders approved a deal to allow Disney to purchase Fox assets.[41] The deal was finalized in March 2019.[42]

In April 2019, it was announced that Iger will depart from his position as CEO and chairman of Disney when his contract expires in 2021.[43][44]

Personal life[]

Iger has been married twice. His first marriage to Kathleen Susan Iger ended in divorce.[45] They have two daughters.

In 1995, Iger married journalist Willow Bay in an interfaith Jewish and Roman Catholic service in Bridgehampton, New York.[46] They have two children: Robert Maxwell "Max" Iger and William Iger.

Iger co-chaired a fundraiser for Hillary Clinton's presidential campaign on August 22, 2016.[47] He was named to President-elect Trump's Strategic and Policy Forum on December 2, 2016.[48] He resigned from Trump's Advisory Council on June 1, 2017 after Trump withdrew the United States from the Paris Climate Agreement.[49]

In 2016, Iger switched his party registration from Democratic to independent (no party affiliation).[1]

Accolades and recognition[]

In June 2012, Steven Spielberg, founder of the USC Shoah Foundation Institute for Visual History and Education, presented Iger with the Ambassador for Humanity Award. Iger was recognized for his support of the Institute's work, his longtime philanthropy, and his leadership role in corporate citizenship.[50][51] Iger was presented with The Milestone Award from the Producers Guild of America (PGA) in 2014. The award is the PGA's highest recognition for an individual or team who has made contributions to entertainment.[52]

In May 2015, Iger was named to the 25th Annual Broadcasting & Cable Hall of Fame.[14] In October 2015, the Toy Industry Association (TIA) inducted Iger into the Toy Industry Hall of Fame. He was selected by members of TIA in recognition of his contributions to the industry, and the impact his work has had on the lives of children worldwide.[53]

References[]

  1. ↑ 1.0 1.1 Rutenberg, Jim (October 8, 2017). "For Disney's Iger, an Unlikely Political Turn". New York Times. https://www.nytimes.com/2017/10/08/business/media/for-disney-chief-robert-iger-an-unlikely-political-turn.html. Retrieved October 9, 2017. 
  2. ↑ "Notice of 2019 Annual Meeting and Proxy Statement". Investis Digital. January 11, 2019. Retrieved March 26, 2019. {{cite web}}:
  3. ↑ "Abigail Disney tells House committee CEO Bob Iger's $65M pay is "a moral issue"". www.cbsnews.com. Retrieved 2019-06-11. {{cite web}}:
  4. ↑ 4.0 4.1 Newcomb, Horace, ed. (2004). Encyclopedia of Television. Routledge (Second edition). p. 1168. ISBN 978-1579583941. https://books.google.com/?id=NUXIAgAAQBAJ&pg=PA1168&lpg=PA1168&dq=bob+iger+born+%22new+York%22#v=onepage&q=bob%20iger%20born%20%22new%20York%22&f=false. 
  5. ↑ "Bob Iger Talks Live Streaming for Disney's Channels". Jewish Business News. February 5, 2015. Archived from the original on August 6, 2016. http://jewishbusinessnews.com/2015/02/05/bob-iger-talks-live-streaming-for-disneys-channels/. 
  6. ↑ Brook, Vincent (December 15, 2016). From Shtetl to Stardom: Jews and Hollywood: Chapter 1: Still an Empire of Their Own: How Jews Remain Atop a Reinvented Hollywood. Purdue University Press. pp. 15. ISBN 9781557537638. http://docs.lib.purdue.edu/cgi/viewcontent.cgi?article=1003&context=purduepress_previews. 
  7. ↑ 7.0 7.1 "Arthur L. Iger". New York City / Long Island: (Death notice) Newsday. May 25, 2010. Archived from the original on June 10, 2016. http://www.legacy.com/obituaries/newsday/obituary.aspx?pid=143108000. Retrieved March 3, 2017. 
  8. ↑ "Miriam A. Iger". New York City / Long Island: (Death notice) Newsday. March 13, 2013. Archived from the original on September 10, 2016. http://www.legacy.com/obituaries/newsday/obituary.aspx?n=miriam-a-iger&pid=163643421. 
  9. ↑ "NYT Notices, Willow Bay and Robert Iger". NYT. 2008. https://query.nytimes.com/gst/fullpage.html?res=9F05E2D81239F93BA35753C1A963958260. 
  10. ↑ Temple Avodah website: "Famous members - Robert Iger, President & CEO, Disney Corporation" Archived October 31, 2012, at the Wayback Machine retrieved October 11, 2012
  11. ↑ "Here's what 13 successful CEOs looked like in high school | Financial Post". Business Insider. December 14, 2013. {{cite web}}:
  12. ↑ Whitehouse, Beth (July 23, 2013). "Disney CEO Robert Iger helps his LI elementary school get playground". Newsday. http://www.newsday.com/lifestyle/family/disney-ceo-robert-iger-helps-his-li-elementary-school-get-playground-1.5620918. Retrieved April 16, 2015. 
  13. ↑ "Ithaca College Alumnus Bob Iger Named Marketwatch CEO of the Year". Ithaca College. 2006. {{cite web}}:
  14. ↑ 14.0 14.1 "Disney Press Release". May 4, 2015. Retrieved June 20, 2016. {{cite web}}:
  15. ↑ Barnes, Brooks (April 10, 2010). "Is Disney's Chief Having a Cinderella Moment?". The New York Times. https://www.nytimes.com/2010/04/11/business/11iger.html. Retrieved April 16, 2015. 
  16. ↑ "Robert Iger biography". referenceforbusiness.com. Retrieved July 26, 2018. {{cite web}}:
  17. ↑ "Looking Beyond the Mouse". The Economist. January 26, 2006. http://www.economist.com/displaystory.cfm?story_id=5442077. 
  18. ↑ Carter, Bill (March 24, 1989). "ABC Names Its President of Entertainment" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/1989/03/24/arts/abc-names-its-president-of-entertainment.html. 
  19. ↑ Lowry, Brian (July 27, 1993). "ABC ups Iger, regroups divisions". Variety. https://variety.com/1993/scene/news/abc-ups-iger-regroups-divisions-108981/. Retrieved May 19, 2015. 
  20. ↑ "C-SPAN Biography of Mr. Robert A. Iger". C-SPAN.org. Retrieved July 8, 2016. {{cite web}}:
  21. ↑ Weinraub, Bernard (January 25, 2000). "Disney Names New President In Reshuffling". The New York Times. https://www.nytimes.com/2000/01/25/business/disney-names-new-president-in-reshuffling.html. Retrieved May 22, 2010. 
  22. ↑ Goldsmith, Jill (January 24, 2000). "Iger tapped No. 2 as Mouse TV booms". Variety. https://variety.com/2000/biz/news/iger-tapped-no-2-as-mouse-tv-booms-1117765636/. Retrieved June 7, 2014. 
  23. ↑ Ahrens, Frank. "Disney Chooses Successor to Chief Executive Eisner". Washington Post. https://www.washingtonpost.com/wp-dyn/articles/A32493-2005Mar13.html. 
  24. ↑ Burt, Tim (March 27, 2005). "Disney demotes chief strategic officer". Financial Times. https://www.ft.com/content/e9791412-9ee3-11d9-82f0-00000e2511c8. 
  25. ↑ "Disney launches more anti-Eisner sentiment". www.bizjournals.com. Retrieved November 29, 2018. {{cite web}}: ;
  26. ↑ Gentile, Gary (July 9, 2005). "Roy Disney, Company Resolve Their Disputes" (in en-US). ISSN 0190-8286. https://www.washingtonpost.com/wp-dyn/content/article/2005/07/08/AR2005070801789.html. 
  27. ↑ La Monica, Paul R. (Jan 25, 2006). "Disney buys Pixar". money.cnn.com. Retrieved August 16, 2017. {{cite web}}:
  28. ↑ "An excerpt from former ESPN president George Bodenheimer's book" (in en). ESPN.com. http://www.espn.com/nfl/story/_/id/12750497/how-espn-traded-al-michaels-oswald-rabbit. 
  29. ↑ "Disney Forum (TBA)  : News". Archived from the original on 24 December 2010. {{cite web}}:
  30. ↑ Weisman, Aly (August 6, 2014). "Bob Iger: The Marvel Brand Is On Fire". Business Insider Australia. http://www.businessinsider.com.au/disneys-bob-iger-on-success-of-marvel-guardians-of-the-galaxy-2014-8?r=US&IR=T. Retrieved May 21, 2016. 
  31. ↑ "The Walt Disney Company Extends Contract to 2016 for Robert A. Iger" (Press release). The Walt Disney Company. http://corporate.disney.go.com/news/corporate/2011/2011_1006_iger_sucession_plan.html. Retrieved October 8, 2011. 
  32. ↑ "Disney Chief Bob Iger Joins Apple Board" (in en). The Hollywood Reporter. https://www.hollywoodreporter.com/news/disney-bob-iger-apple-board-261834. 
  33. ↑ Leonard, Devin (March 8, 2013). "How Disney Bought Lucasfilm—and Its Plans for Star Wars". Bloomberg. https://www.bloomberg.com/news/articles/2013-03-07/how-disney-bought-lucasfilm-and-its-plans-for-star-wars. Retrieved May 21, 2016. 
  34. ↑ Miller, David (March 8, 2016). "Disney's Bob Iger discusses Shanghai resort, 'Star Wars' and ESPN at media conference". Los Angeles Times. http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-star-wars-shanghai-disney-20160308-story.html. Retrieved May 21, 2016. 
  35. ↑ Byers, Dylan (May 25, 2016). "Bob Iger fires back at Bernie Sanders: 'How many jobs have you created?'". CNN. Retrieved June 7, 2018. {{cite web}}:
  36. ↑ Graser, Marc (October 2, 2014). "Bob Iger to Remain Disney Chief through 2018". Variety. https://variety.com/2014/biz/news/disney-extends-bob-iger-contract-through-2018-1201319561/. Retrieved October 8, 2014. 
  37. ↑ Fritz, Ben (October 2, 2014). "Disney Extends CEO Bob Iger's Contract Until 2018". The Wall Street Journal. https://www.wsj.com/articles/disney-extends-bob-igers-contract-until-2018-1412273135. Retrieved October 8, 2014. 
  38. ↑ "Disney extends CEO Iger's contract by a year to July 2019". Reuters. March 23, 2017. https://www.reuters.com/article/us-disney-ceo-idUSKBN16U23I. 
  39. ↑ Kilday, Gregg. "Disney's Dilemma: Can Bob Iger Ever Find a Successor?". The Hollywood Reporter. {{cite web}}:
  40. ↑ Faughnder, Meg James, Ryan. "Disney extends CEO Bob Iger's contract through 2021". latimes.com. Retrieved March 29, 2019. {{cite web}}: CS1 maint: multiple names: authors list (link)
  41. ↑ Castillo, Michelle (July 27, 2018). "Disney receives shareholder approval to buy Fox assets". CNBC. https://www.cnbc.com/2018/07/27/twenty-first-century-fox-and-walt-disney-company-shareholders-approve-.html. 
  42. ↑ Romano, Nick. "The end of an era: Disney's acquisition of 21st Century Fox is finally complete". EW.com. Retrieved March 29, 2019. {{cite web}}:
  43. ↑ Tyko, Kelly; Keveney, Bill (April 11, 2019). "Disney CEO Robert Iger announces 2021 retirement" (in en). USA TODAY. https://www.usatoday.com/story/money/2019/04/11/walt-disney-ceo-bob-iger-step-down-2021/3442748002/. 
  44. ↑ Villasanta, Arthur (April 11, 2019). "Disney CEO Bob Iger Will Step Down By 2021, Succession Process Underway". International Business Times. https://www.ibtimes.com/disney-ceo-bob-iger-will-step-down-2021-succession-process-underway-2785058. 
  45. ↑ "Kathleen Iger and Jarrod Cushing". The New York Times. September 25, 2005. https://www.nytimes.com/2005/09/25/fashion/weddings/kathleen-iger-and-jarrod-cushing.html. 
  46. ↑ "Willow Bay And Robert Iger". The New York Times. October 8, 1995. https://www.nytimes.com/1995/10/08/style/willow-bay-and-robert-iger.html. Retrieved February 13, 2014. 
  47. ↑ "Hillary Clinton Fundraisers Coming to Beverly Hills". The Beverly Hills Courier. August 3, 2016. http://bhcourier.com/beverly-hills-news-hillary-clinton-fundraisers-coming-to-beverly-hills/. Retrieved August 5, 2016. 
  48. ↑ "Disney's Bob Iger named to Donald Trump's new President's Strategic and Policy Forum". http://www.latimes.com/business/hollywood/la-fi-ct-bob-iger-donald-trump-20161202-story.html. 
  49. ↑ Stedman, Alex; Johnson, Ted (June 1, 2017). "Disney CEO Bob Iger Resigns From Trump's Advisory Council Over Paris Accord Decision". Variety. https://variety.com/2017/film/news/disney-ceo-bob-iger-resigns-from-trumps-advisory-council-over-paris-accord-decision-1202451184/. Retrieved June 2, 2017. 
  50. ↑ US Shoah Foundation: "Steven Spielberg and USC Shoah Foundation Institute honor Robert A. Iger, Chairman and CEO of the Walt Disney Company" June 11, 2012
  51. ↑ "Disney's Robert A. Iger Accepts the 2012 Ambassador for Humanity Award". USC Shoah Foundation Institute. YouTube.com. June 6, 2012. Retrieved July 20, 2016. {{cite web}}:
  52. ↑ "PGA Honors Bob Iger with the 2014 Milestone Award - Producers Guild of America". www.producersguild.org. Retrieved April 27, 2017. {{cite web}}:
  53. ↑ "Toy Industry Association (TIA) Press Release". October 14, 2015. Retrieved June 8, 2016. {{cite web}}:

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1989–1992 		Succeeded by
Ted Harbert
Preceded by
Vacant
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2000–2012 		Succeeded by
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Michael Eisner 		CEO of The Walt Disney Company
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John E. Pepper, Jr. 		Chairman of The Walt Disney Company
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