Bob Iger

Last updated

Robert Allen Iger
BobIgerHWOFJune2013.jpg
Iger in June 2013
Born
Robert Allen Iger

(1951-02-10) February 10, 1951 (age 68)
Alma mater Ithaca College
Years active1974present
Salary US$65.6 million (2018) [1]
Title Chairman and CEO of The Walt Disney Company
Political party Democratic (until 2016)
Independent (since 2016) [2]
Board member ofThe Walt Disney Company
Apple Inc.
Spouse(s)Kathleen Susan (divorced)
Willow Bay (m. 1995)
Children4
Signature
Robert A. Bob Iger signature.svg

Robert Allen Iger ( /ˈɡər/ ; 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.

Chairman leading or presiding officer of an organized group such as a board, committee, or deliberative assembly

The chairman is the highest officer of an organized group such as a board, a committee, or a deliberative assembly. The person holding the office is typically elected or appointed by the members of the group, and the chairman presides over meetings of the assembled group and conducts its business in an orderly fashion.

The Walt Disney Company American diversified multinational mass media corporation

The Walt Disney Company, commonly known as Walt Disney or simply Disney, is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios in Burbank, California. It is the world's largest independent media conglomerate in terms of revenue, ahead of NBCUniversal and WarnerMedia, which are owned by telecommunications giants Comcast and AT&T respectively.

American Broadcasting Company American broadcast television network

The American Broadcasting Company (ABC) is an American commercial broadcast television network that is a flagship property of Disney–ABC Television Group, a subsidiary of the Disney Media Networks division of The Walt Disney Company. The network is headquartered on Columbus Avenue and West 66th Street in Manhattan, New York City. There are additional major offices and production facilities elsewhere in New York City, as well as in Los Angeles and Burbank, California.

Contents

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 a forthcoming takeover of 21st Century Fox 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.

Michael Eisner American CEO of The Walt Disney Company

Michael Dammann Eisner is an American businessman. Eisner was the Chairman and Chief Executive Officer (CEO) of The Walt Disney Company from September 1984 to September 2005. Prior to Disney, Eisner was President and CEO of rival film studio Paramount Pictures from 1976 to 1984, and had brief stints at the major television networks: NBC, CBS, and ABC.

Roy E. Disney longtime senior executive for The Walt Disney Company

Roy Edward Disney, KCSG was a longtime senior executive for The Walt Disney Company, which was founded by his father, Roy Oliver Disney and uncle Walt Disney. At the time of his death he held more than 16 million shares, and served as a consultant for the company, as Director Emeritus for the Board of Directors. He is perhaps best known for organizing the ousting of two top Disney executives: Ron Miller in 1984, and Michael Eisner in 2005.

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. Intellectual property encompasses two types of rights; industrial property rights and copyright. It was not until the 19th century that the term "intellectual property" began to be used, and not until the late 20th century that it became commonplace in the majority of the world.

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.

Walt Disney Animation Studios Walt Disney Company animation studio

Walt Disney Animation Studios (WDAS), also referred to as Disney Animation, headquartered at the Walt Disney Studios in Burbank, California, is an American animation studio that creates animated feature films, short films and television specials for The Walt Disney Company. Founded on October 16, 1923, it is a division of Walt Disney Studios. The studio has produced 57 feature films, from Snow White and the Seven Dwarfs (1937) to Ralph Breaks the Internet (2018).

The Walt Disney Studios is an American film studio, one of the four major businesses of The Walt Disney Company and the main component of its Studio Entertainment segment. The studio, best known for its multi-faceted film division including animation, which is one of Hollywood's major film studios, is based at the eponymous Walt Disney Studios in Burbank, California.

Market capitalization

Market capitalization is the market value of a publicly traded company's outstanding shares. Market capitalization is equal to the share price multiplied by the number of shares outstanding. As outstanding stock is bought and sold in public markets, capitalization could be used as an indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation.

Early life

Iger was born to a Jewish family in New York City. [3] [4] [5] He was raised in the Long Island town of Oceanside, New York, where he attended the Fulton Avenue School and graduated from Oceanside High School in 1969. [6] [7] 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. [8]

American Jews, or Jewish Americans, are Americans who are Jews, whether by religion, ethnicity or nationality. The current Jewish community in the United States consists primarily of Ashkenazi Jews, who descend from diaspora Jewish populations of Central and Eastern Europe and comprise about 90-95% of the American Jewish population. Most American Ashkenazim are US-born, with a dwindling number of now elderly earlier immigrants, as well as some more recent foreign-born immigrants.

New York City Largest city in the United States

The City of New York, often called New York City (NYC) or simply New York (NY), is the most populous city in the United States. With an estimated 2017 population of 8,622,698 distributed over a land area of about 302.6 square miles (784 km2), New York City is also the most densely populated major city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass and one of the world's most populous megacities, with an estimated 20,320,876 people in its 2017 Metropolitan Statistical Area and 23,876,155 residents in its Combined Statistical Area. A global power city, New York City has been described as the cultural, financial, and media capital of the world, and exerts a significant impact upon commerce, entertainment, research, technology, education, politics, tourism, art, fashion, and sports. The city's fast pace has inspired the term New York minute. Home to the headquarters of the United Nations, New York is an important center for international diplomacy.

Long Island island in New York, United States of America

Long Island is a densely populated island off the East Coast of the United States, beginning at New York Harbor approximately 0.35 miles (0.56 km) from Manhattan Island and extending eastward into the Atlantic Ocean. The island comprises four counties in the U.S. state of New York. Kings and Queens Counties and Nassau County share the western third of the island, while Suffolk County occupies the eastern two-thirds. More than half of New York City's residents now live on Long Island, in Brooklyn and Queens. However, many people in the New York metropolitan area colloquially use the term Long Island to refer exclusively to Nassau and Suffolk Counties, which are mainly suburban in character, conversely employing the term the City to mean Manhattan alone.

Iger is the son of Mimi (née Tunick) and Arthur L. Iger (b. 1926). [9] [10] 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. [9] His mother worked at Boardman Junior High School in Oceanside. [11] [12] Arthur's father Joe (i.e. Robert's paternal grandfather) was cartoonist Jerry Iger's brother.

World War II 1939–1945 global war

World War II, also known as the Second World War, was a global war that lasted from 1939 to 1945. The vast majority of the world's countries—including all the great powers—eventually formed two opposing military alliances: the Allies and the Axis. A state of total war emerged, directly involving more than 100 million people from over 30 countries. The major participants threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. World War II was the deadliest conflict in human history, marked by 50 to 85 million fatalities, most of whom were civilians in the Soviet Union and China. It included massacres, the genocide of the Holocaust, strategic bombing, premeditated death from starvation and disease, and the only use of nuclear weapons in war.

Cartoonist visual artist who makes cartoons

A cartoonist is a visual artist who specializes in drawing cartoons. This work is often created for entertainment, political commentary, or advertising. Cartoonists may work in many formats, such as booklets, comic strips, comic books, editorial cartoons, graphic novels, manuals, gag cartoons, graphic design, illustrations, storyboards, posters, shirts, books, advertisements, greeting cards, magazines, newspapers, and video game packaging.

Jerry Iger cartoonist

Samuel Maxwell "Jerry" Iger was an American cartoonist. With business partner Will Eisner, he co-founded Eisner & Iger, a comic book packager that produced comics on demand for new publishers during the late-1930s and 1940s period known to fans and historians as the Golden Age of Comic Books.

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. [13] [14]

American Broadcasting Company (ABC)

In 1974, Iger joined the American Broadcasting Company (ABC). [15] [16] In 1989, he was named head of ABC Entertainment. [17] 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. [18] In 1994, Iger was named president and chief operating officer of ABC's corporate parent, Capital Cities/ABC. [19] [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. [3]

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. [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] During the Walt Disney Company's first quarter earnings call in 2017, Bob Iger stated "If it's in the best interest of the company to expand my tenure, I'm open to that ..." [40]

In October 2017, Iger announced that he would be stepping down as CEO and Chairman of Disney in 2019.

In July 2018, under Iger's leadership, Disney and 21st Century Fox shareholders approved a deal to allow Disney to purchase Fox assets. [41]

Personal life

Iger has been married twice. His first marriage to Kathleen Susan Iger ended in divorce. [42] They had two children: Kathleen Pamela Iger and Amanda Iger. In 2005, Kathleen Pamela married Jarrod Allen Cushing in a civil ceremony at the Blithewold Mansion, Gardens and Arboretum in Rhode Island. [42]

In 1995, Iger married Willow Bay in an interfaith Jewish and Roman Catholic service in Bridgehampton, New York. [43] 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. [44] Iger was named to President-elect Trump's Strategic and Policy Forum on December 2, 2016. [45] He resigned from Trump's Advisory Council on June 1, 2017 after Trump withdrew the United States from the Paris Climate Agreement. [46]

In 2016, Iger switched his party registration from Democratic to independent (no party affiliation). [2]

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, the Institute's highest honor. Iger was recognized for his support of the Institute’s work, his longtime philanthropy, and his leadership role in corporate citizenship. [47] [48] 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 historic contributions to entertainment. [49]

In May 2015, Iger was named to the 25th Annual Broadcasting & Cable Hall of Fame. [13] 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. [50]

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Commons-logo.svg Media related to Bob Iger at Wikimedia Commons

Business positions
Preceded by
Brandon Stoddard
President of ABC Entertainment
1989–1992
Succeeded by
Ted Harbert
Preceded by
Vacant
(Previously Michael Ovitz)
President of The Walt Disney Company
20002012
Succeeded by
Vacant
Preceded by
Michael Eisner
CEO of The Walt Disney Company
2005
Succeeded by
Incumbent
Preceded by
John E. Pepper, Jr.
Chairman of The Walt Disney Company
2012
Succeeded by
Incumbent