The Bob Iger Legacy

Back in 2011, Disney announced that Iger intends to step down as the CEO of the Walt Disney Company in 2015, which is a year away. I mentioned in a blog on this news that I consider his tenure as the CEO of the company to be an extremely successful one. I admire him greatly in what he had accomplished, especially during some of the toughest years financially during the economic crash of 2008/2009.

I was reading some articles online on the company when I started to think of what his legacy will be when he leaves his CEO post. Even though it is a year away, and he might still pull another big announcement out of his hat, I decided to list what I, as a Disney fan, consider to be Iger's lasting legacy to the Walt Disney Company.

1. Diffusing the tension with Roy Disney.

This was one of his first major accomplishment. Regardless of whether Roy Disney was still in the company or not (he was ousted as a board member by Eisner), Roy Disney still has a great influence, especially as a "spiritual leader" of the Disney philosophy. Along with Stanley Gold, the movement to "Save Disney" via the savedisney.com website was gaining traction, and was a black mark against the company. Iger was able to diffuse the bad blood that was boiling around the company and was able to bring Roy Disney back. To me, this was the first and necessary step to repair the Disney company image and morale.

2. Bringing back the Walt Disney Animation Studios

This was the biggest surprise and disappointment out of the Eisner administration. Even if this part of the company was not doing well at that time in terms of box office performance, there is such an emotional and historical attachment to this part of the company that, in essence, started it all that it practically sealed Eisner doomed future with the company. Iger's decision to bring it back, and to nurse it to life under the leadership of Ed Catmull and John Lasseter was soundly applauded, and now, with the success of "Frozen", that division of the company has arrived and well-worth the effort!

3. Getting back Oswald

The company "traded Al Michaels to NBC/Universal" to get back Oswald the Lucky Rabbit. Financially, this isn't a big financial advantage, but this shows that Iger isn't just someone who focuses on the bottom line. He also paid attention to the history of the company, and getting Oswald back to the Walt Disney company was the right thing to do. Certainly, it must have endeared him to Diane Disney Miller (I'm guessing) for bringing back one of her father's earliest creations.

4. Bought Pixar

This was the first major acquisition by Iger, and it was a brilliant move. He rebuilt the bridge with Steve Jobs, and managed to acquire Pixar to ensure a continuing supply of not only amazing movies, but also characters that fuel Disney's theme parks, merchandise, and other parts of the company. It is now very hard to not think of Disney and Pixar being together.

5. Bought Marvel

Now I have to admit that this came out of nowhere for me. I didn't see this one coming. But now, after all the blow-out success of the Marvel universe, and the potential for non-stop merchandise and theme parks tie-in, I can see myself saying "why, of course!" So this was definitely a blockbuster acquisition.

6. Bought Star Wars

While this was unexpected, it was not a surprise. After all, Star Wars attractions and Star Wars Weekend are already established at the theme parks. What was unexpected was George Lucas giving it up. But I suppose, if he wants to give it up, Disney is the most logical place that he would sell it to.

7. Shanghai Disneyland

Even though Iger opened Hong Kong Disneyland, the plan for that theme park were in place before he took over the company. Shanghai Disneyland, on the other hand, should be all his, and I expect that he will be there at the grand opening next year. This will seal the deal in Disney's continued attempt to establish the brand in China.

8. Disney Dream and Disney Fantasy

The decision to add two more ships to the Disney fleet was huge, both figuratively and literally. These are humongous ships, almost 50% larger than the older two ships. It was a bold move, especially since they both went into service during the economic slowdown, to established the Disney Cruise line even more.

9. Aulani

This is only the 3rd Disney resort outside of the existing Disney resort area (the other two being Vero Beach and Hilton Head). It not only expanded the Disney resort area, but also expanded the DVC arm into new territories.

10. Revamping Disney's California Adventure.

This was clearly one of the best moves ever because DCA has now become not just a park to go when Disneyland is packed. Carsland is clearly a hit, and while it took $1.2 billion to rectify this Eisner's mistake, it was worth every cent.

There is still at least a year left in Iger's tenure, and he could easily pull out another surprise, but as of now, I consider these to be the biggest legacy he will leave behind with the Company. The Walt Disney Company is in a much strong position now, both financially and in its future outlook. Whoever the next CEO of the company will be, he/she has huge shoes to fill.

Zz.