Bob Iger has admitted that Disney wasn’t thorough enough when choosing Bob Chapek as his successor. Iger recently sat down with Nitin Nohria, former dean of the Harvard Business School, about his tenure as CEO at Disney. Nohria is also executive chairman of Thrive Capital, where Iger serves as an advisor.

Bob Iger’s Interview with Nitin Nohria

When Bob Iger first became CEO of Disney in 2005, he noticed that “the signs were all there that Disney Animation was faltering.” Disney wasn’t in denial of the problem, but there was no real movement to fix the issue at the time. Knowing how important Disney Animation was to the company, not just because of money but because of how the public perceived Disney, Iger acted quickly. His solution was to buy Pixar and bring the leadership of Pixar into Disney Animation. Fortunately, the decision paid off.

Iger notes that in the 2004-2005 period, many people were stuck in the past, particularly Walt Disney’s past, which is interesting considering Walt Disney himself was an innovator and was always looking towards the future. Iger believes that a balance can be achieved between respecting what Walt Disney did, but also continuing to build on it, like with the continuous attraction updates in the Disney Parks.

Iger also had to figure out the balance between cultivating a collaborative environment and knowing that as CEO, he had the final say on decisions. He notes it was a “kind of a balance between being an autocrat and being a democrat of sorts.” Iger strived to spend as much time as possible at the company, which allowed him to more effectively influence and directly express appreciation for its people.

Iger also mentioned that in hindsight, they perhaps weren’t as thorough as they should have been when choosing his successor, Bob Chapek, in 2020. Iger knew Chapek’s strengths and weaknesses, but some of those weaknesses may have been discounted too much. They also missed how the environment was consistently changing. “We live in a state of almost perpetual crisis, or an environment in which a crisis can occur almost on a very regular basis. I think that requires a different kind of leadership, and I don’t think we realize that at the time.”

He continues, “Now, this is, in a way, hindsight, but I realize today that leadership needs to be capable of managing an environment in perpetual crisis. So what does that mean? I think it puts even more emphasis on stamina. It puts even more emphasis on someone’s ability to, one, admit the crisis and deal with it, but never lose hope and optimism and balance that optimism and hope with realism.”

The people a CEO chooses to surround themselves with, combined with their stamina, resiliency, and ability to manage a crisis maturely, were values that went into choosing Iger’s successor (Josh D’Amaro) the second time around.

You can read the full interview on the Harvard Business Review, and read more news regarding Iger, Chapek, and Josh D’Amaro here:

• Bob Chapek Reveals Why He Hasn’t Returned to Disney World, Calls Earnings Criticism ‘An Absurdity’
• Bob Chapek Takes Credit for Josh D’Amaro’s Rise to Disney CEO Despite D’Amaro Nearly Quitting Under His Leadership
• Bob Chapek Rejects All Personal Responsibility, Stands By Price Hikes, and Blames Iger in New Memoir

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