Trian Partners Activist Presentation Deck
Confidential-Not for Reproduction or Distribution
CEO Succession Has Been a Long Time Issue for Disney's Board
. Most notably, the Board extended Bob Iger's agreed upon retirement date five separate times
between October 2011 and December 2017
.
By continuing to extend Bob Iger's contract, rather than actively developing potential
successors, we believe several well-regarded candidates left the Company, including Tom
Staggs, Jay Rasulo and Kevin Mayer
. Further, appointing Bob Iger as Executive Chairman for 2 years as an outgoing CEO in our view
was a very risky corporate governance decision as it set up his successor to fail with the prior
CEO constantly watching over their shoulders - this is exactly what transpired
October 2011
July 2013
October 2014
March 2017
December 2017
February 2020
November 2022
Bob Iger Transition Timeline
Bob Iger signs contract extension where he will remain Chairman & CEO through
March 31, 2015 and will serve as Executive Chairman through June 30, 2016
Signs contract extension where he would step down as Chairman / CEO by June 2016
Signs contract extension to remain Chairman / CEO through June 2018
Signs contract extension to remain Chairman / CEO through July 2, 2019; also
granted a three-year consulting agreement upon retirement
Signs contract extension to remain Chairman / CEO through December 2021
Disney names Bob Chapek CEO; Bob Iger to become Executive Chair through
December 2021 and will direct the Company's "creative endeavors"
Disney names Bob Iger CEO, effective immediately, and will remain CEO through
December 2024
Source: SEC Sings Press releases Bloomberg CNBC.
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