The Walt Disney Company made a major announcement on Tuesday that CEO, Bob Iger is stepping down effective immediately. As transplanted Floridians, Disney runs through our blood and it feels a bit like your favorite Uncle is deciding to leave the family. And some investors felt the same way as their stock dropped 2.5%.
Today however, Bob Iger made the most honest statement about why he’s stepping down. “I don’t want to run the company anymore.” Typically, when a CEO steps down we wait anxiously on the “why.” Iger’s honesty is simple and relatable. He’s tired and it’s time to pass the baton. Can you blame him?
Undeniably, Disney is a monster. A monster at branding, marketing, customer loyalty, innovation and making us spend every dollar we earn on Mickey Mouse ice cream and Baby Yoda figurines.
Iger’s reign as CEO has been widely successful and surely hasn’t come without major personal sacrifices. The conversation internally started around Thanksgiving of last year, so no doubt Disney has been extremely strategic in handling this transition. And Disney will continue to thrive because that’s what they do.
Here are two major business principles W Creative Agency learned from Bob Iger and Disney that you need to apply to your business today.
Build a solid foundation. If a company can’t thrive through change and isn’t constantly innovating, then reevaluate the foundation.
Be honest. Companies and their leadership teams tend to not be honest enough with each other. Don’t be afraid to have the difficult conversations and be open to hearing the truth.
Disney will continue to amaze us in ways we didn’t think possible. I can’t wait to see how much money I will spend this year on Disney products. Oh, and here’s a link to pre order your plush Baby Yoda. 😊
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