Bob Iger

Last updated

Bob 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]
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.

The Walt Disney Company American mass media corporation

The Walt Disney Company, commonly known as Disney, is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California.

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 Walt Disney Television, a subsidiary of the Disney Media Networks division of The Walt Disney Company. The network is headquartered in Burbank, California on Riverside Drive, directly across the street from Walt Disney Studios and adjacent to the Roy E. Disney Animation Building. The network's secondary offices, and headquarters of its news division, is in New York City, New York, at their broadcast center at 77 West 66th Street in the Upper West Side of Manhattan.

The chief operating officer (COO), also called the chief operations officer, is one of the highest-ranking executive positions in an organization, comprising part of the "C-Suite". The COO is responsible for the daily operation of the company, and routinely reports to the highest-ranking executive, usually the chief executive officer (CEO).

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 21st Century Fox in 2019 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 business executive

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 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 his 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. There are many types of intellectual property, and some countries recognize more than others. The most well-known types are copyrights, patents, trademarks, and trade secrets. 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 $257 billion over a period of thirteen years.

Walt Disney Animation Studios Walt Disney Company animation studio

Walt Disney Animation Studios (WDAS), also referred to as Disney Animation, 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, and is headquartered at the Walt Disney Studios in Burbank, California. 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 business segments of The Walt Disney Company. The studio, one of the "Big Five" major film studios and best known for its multi-faceted film divisions, is based at the eponymous Walt Disney Studios in Burbank, California. Founded in 1923, it is the fourth-oldest among the major studios.

Market capitalization Total value of a public companys outstanding shares

Market capitalization, commonly called market cap, is the market value of a publicly traded company's outstanding shares.

In April 2019, Abigail Disney, granddaughter of Walt's brother Roy, claimed that the increased annual compensation of Disney's Chief Executive, Bob Iger, “deepened wealth inequality”. Iger made $65.6 million in 2018 – 1,424 times the median salary of a Disney employee, which included a one-time stock grant for extending his contract to oversee the acquisition of 21st Century Fox. The Walt Disney Company responded by saying, "Disney has added more than 70,000 jobs during Mr. Iger's tenure and has made historic investments to expand the earning potential and upward mobility of our workers," adding that they had implemented an hourly minimum wage at Disneyland of $15/hour and are spending $150m on an education initiative to provide free college training. Iger announced that he will step down as CEO and Chairman of Disney when his contract expires at the end of 2021. [3]

Abigail Disney American filmmaker

Abigail E. Disney is an American documentary filmmaker, philanthropist, and social activist. She produced the documentary Pray the Devil Back to Hell, and is the executive producer, writer, and director of The Armor of Light, which won an Emmy Award for Outstanding Social Issue Documentary.

Early life

Iger was born to a Jewish family in New York City. [4] [5] [6] He is the son of Mimi (née Tunick) and Arthur L. Iger (b. 1926). [7] [8] 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. [7] His mother worked at Boardman Junior High School in Oceanside, New York. [9] [10] Arthur's father Joe (i.e. Robert's paternal grandfather) was cartoonist Jerry Iger's brother.

American Jews Ethnic group

American Jews, or Jewish Americans, are Americans who are Jews, whether by religion, ethnicity, or nationality. Today the 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, usually called either New York City (NYC) or simply New York (NY), is the most populous city in the United States. With an estimated 2018 population of 8,398,748 distributed over a land area of about 302.6 square miles (784 km2), New York 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 19,979,477 people in its 2018 Metropolitan Statistical Area and 22,679,948 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.

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 70 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.

He was raised in Oceanside, where he attended the Fulton Avenue School and graduated from Oceanside High School in 1969. [11] [12] 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. [13]

Oceanside High School (New York) public high school in Oceanside, NY

Oceanside High School is an American public secondary school located in Oceanside, New York. It is part of the Oceanside School District.

Latin honors are Latin phrases used in some colleges and universities to indicate the level of distinction with which an academic degree has been earned. This system is primarily used in the United States and Canada. It is also used in some Southeastern Asian countries with European colonial history, such as Indonesia and the Philippines, although sometimes translations of these phrases are used instead of the Latin originals. The honors distinction should not be confused with the honors degrees offered in some countries, or with honorary degrees.

Roy H. Park School of Communications

The Roy H. Park School of Communications is one of five schools at Ithaca College, in Ithaca, New York. The school is named after media executive Roy H. Park, who lived in Ithaca and who served on the Board of Trustees at Ithaca College for many years.

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. [14] [15]

American Broadcasting Company (ABC)

In 1974, Iger joined the American Broadcasting Company (ABC). [16] [17] In 1989, he was named head of ABC Entertainment. [18] 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. [19] In 1994, Iger was named president and chief operating officer of ABC's corporate parent, Capital Cities/ABC. [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. [4]

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 by its acquisition of Pixar. [32] Iger resigned from Apple’s board on September 10, 2019, in order to avoid a conflict of interest, as Disney and Apple prepare to launch competing streaming services Disney+ and Apple TV+, respectively. [33] 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. [34] 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. [35] 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. [36]

Iger's contract as Disney's chairman and CEO was originally planned to run until June 30, 2018; [37] [38] 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. [39] [40] In December 2017, Disney extended Iger's contract through 2021. [41]

In July 2018, under Iger's leadership, Disney and 21st Century Fox shareholders approved a deal to allow Disney to purchase Fox assets. [42] The deal was finalized in March 2019. [43]

In April 2019, it was announced that Iger will depart from his position as CEO and chairman of Disney when his contract expires in 2021. [44] [45]

Personal life

Iger has been married twice. His first marriage to Kathleen Susan Iger ended in divorce. [46] They have two daughters.

In 1995, Iger married journalist Willow Bay in an interfaith Jewish and Roman Catholic service in Bridgehampton, New York. [47] 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. [48] He was named to President-elect Trump's Strategic and Policy Forum on December 2, 2016. [49] He resigned from Trump's Advisory Council on June 1, 2017 after Trump withdrew the United States from the Paris Climate Agreement. [50]

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. Iger was recognized for his support of the Institute's work, his longtime philanthropy, and his leadership role in corporate citizenship. [51] [52] 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 contributions to entertainment. [53]

In May 2015, Iger was named to the 25th Annual Broadcasting & Cable Hall of Fame. [14] 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. [54]

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Pixar computer-animation studio

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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