Disney CEO Bob Iger has tried just about everything from his bag of tricks to try and save the Walt Disney Company. Iger started by reorganizing the company into three separate divisions to help streamline some of Disney’s operations. He then laid off more than 7,000 employees, including some high-profile names at ESPN and those loyal to his predecessor Bob Chapek. He even cut content from Disney Plus and scaled back some of the Marvel and Star Wars projects.
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But even that wasn’t enough. Recently even Iger had to admit that “the challenges were greater than I anticipated.” To help tackle those challenges, Ige has agreed to remain CEO until the end of 2026; at this point, the Disney Board should have a successor in mind. And now, Iger has decided to bring back some familiar faces to help him tackle the many issues the Walt Disney Company faces.
Reports have surfaced that Iger has hired two former Disney executives, once thought to be in line for his job, to advise Iger on Disney’s television businesses. Tom Staggs and Kevin Mayer, the CEOs of Candle Media, agreed to return to Disney after leaving when they were passed over for CEO in favor of Bob Chapek.
How the turntables. Kevin Mayer and Tom Staggs are reportedly consulting for Disney — working with Iger and others at the company to help figure out how the company's linear properties intersect with Disney’s streaming strategy, according to @MattBelloni via @PuckNews. https://t.co/guWaI0UwbM
— Scott Gustin (@ScottGustin) July 31, 2023
Tom Staggs was at Disney for over 25 years and held numerous high-profile jobs. He was the Head of Theme Parks, held by Josh D’Amaro, Chief Operating Officer and Chief Financial Officer. Staggs started as Head of Theme Parks in 2010 and doubled the division’s revenues. He also saw the addition of Pandora: The World of Avatar in Disney World and the building of Shanghai Disneyland.
Kevin Mayer joined Disney in 1993. He left in 2000, only to return in 2005. In 2005 he was named an Executive Vice President of the Company. He oversaw some of Disney’s most significant acquisitions, including Pixar, LucasFilm, Marvel, and 20th Century Fox. He is widely considered the architect of Disney’s streaming strategy. He left in 2020 while Disney was under Chapek.
Mayer and Staggs were considered successors to Iger when he retired the first time; however, both were passed over in favor of Bob Chapek. Their return raises questions about who will be Iger’s successor. Dana Walden had been seen as a strong internal candidate, but with the return of Mayer and Staggs, that seems to be in doubt.
We will continue to update this story at Disney Fanatic.
