A Yale professor recently shared his findings about why some CEOs find it so hard to step away from their positions, and it turns out Bob Iger might be “addicted” to being Disney’s CEO.
Bob Iger has been making headlines for months now. Over a year ago, it was for returning as Disney’s CEO after ostensibly retiring. At the beginning of the year, he led the massive restructuring and reorganization, which led to 4000 employees being laid off and 3000 job positions being withdrawn. More recently, however, it was for the more optimistic news that The Walt Disney Company was “entering a new era of building.”
Recent Report Shares Why Former Executives Find It Hard to Stay Away From Companies
A Business Standard report explains how certain personality types have trouble leaving behind their positions when retiring, including “‘generals’ who retire reluctantly and then spend their time plotting a comeback.”
Pulling analysis from a book by Yale University professor Jeffrey Sonnenfeld, “The Hero’s Farewell: What Happens When CEOs Retire,” the report explains that the “pain of separation can be so great it threatens an executive’s well-being.”
The report also shares insight from Adrian Jacques Ambrose, a Columbia University psychiatrist. Ambrose comments, “When transitioning from a powerful leadership position to retirement, the potential identity loss can be anxiety-inducing and distressing.”
Related: Elon Musk Might Be Cussing Disney Out, But Bob Iger Couldn’t Care Less
This Phenomenon is Especially Notable with The Walt Disney Company
As the report notes, and any Disney Fanatic is likely aware, there have been many former senior executives who have either found their way (or are trying to find their way) back to Disney along with Mr. Iger—be it because he brought them back himself, as the case with Tom Staggs and Kevin Mayer—or because they oppose the current leadership like former finance chief Jay Rasulo who is seeking a board seat with activist investor, billionaire Nelson Peltz.
Related: Bob Iger Wants Employees To Be Optimistic About Disney’s Future, but Many Are Skeptical
Ultimately, it is important to note that Mr. Iger has confirmed that he will step down as Disney’s CEO in 2026 (though it’s worth noting, that his new end date comes after an initial contract that had him leaving the company in 2024).
But it will be interesting to see whether the chief executive is actually able to stay away, or if his commitment to Disney keeps him coming back.