Bob Iger

Bob Iger

Iger in June 2013
Born Robert Allen Iger
(1951-02-10) February 10, 1951
New York City, New York, U.S.
Residence Los Angeles, California, U.S.
Nationality United States
Education B.S., Ithaca College, 1973
Occupation Entertainment Executive
Years active 1974–present
Employer The Walt Disney Company
Salary US$44.9 million (2015)[1]
Title Chairman & CEO
Predecessor Michael Eisner
Successor Incumbent
Board member of Apple Inc.
Spouse(s) Susan (divorced; 2 children)
Willow Bay (1995–present; 2 children)
Parents
  • Arthur L. Iger (father)
  • Mimi Iger (mother)
Signature

Robert Allen "Bob" Iger (/ˈaɪɡər/; born February 10, 1951) is an American businessman and the chairman and chief executive officer (CEO) of The Walt Disney Company.[2][3][4][5] Before Disney, Iger served as the president of ABC Television from 1994 to 1995 and the president and chief operating officer (COO) of Capital Cities/ABC, Inc. from 1995 until Disney's acquisition of the company in 1996.[6][7] 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.[8][9] As part of his yearly compensation, Iger earned $44.9 million in 2015.[1]

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 Animation Studios in 2006 for $7.4 billion, Marvel Entertainment in 2009 for $4 billion, and Lucasfilm in 2012 for $4.06 billion,[10] 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.[11] Iger was also a driving force behind the reinvigoration of Walt Disney Animation Studios and the branded-release strategy of its film studio's output.[12][13] Under Iger's control, 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.[10][14] As a result, Disney has been recognized as one of the "World's Most Reputable Companies" by Forbes (2006-2015), one of "America's Most Admired Companies" by Fortune Magazine (2009-2015), one of the “World's Most Respected Companies" by Barron’s (2009-2014), a “Best Place to Launch a Career” by BusinessWeek Magazine (2006-2010), and a "Company of the Year" by Yahoo Finance (2013).[2]

Over the course of his career, Iger has been recognized by several major media publications for his leadership at Disney, having been named one of Fortune Magazine's "25 Most Powerful People in Business" (2006, 2007), a "Top Gun CEO" by Forbes (2009), a "Best CEO" by Institutional Investor Magazine (2008-2011), "CEO of the Year" by MarketWatch (2006), and "CEO of the Year" by Chief Executive Magazine (2014).[2] Iger has also been inducted as a member of several organizations, including the American Academy of Arts & Sciences, the Broadcasting and Cable Hall of Fame, and the Toy Industry Hall of Fame.[2][15][16][17][18]

Early life

Iger was born to a Jewish family in New York City.[6][19][20][21][22] Iger 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.[23][24] 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.[25]

Iger is the son of Mimi and Arthur L. Iger.[26][27] 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.[26] His mother worked at Boardman Junior High School in Oceanside.[28][29]

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; however, he worked as a weatherman in Ithaca for 5 months instead, before shifting his career goals.[30][31]

American Broadcasting Company (ABC)

In 1974, Iger joined the American Broadcasting Company (ABC).[4][32]

In 1989, Iger was named to head up ABC Entertainment. He served as President of the ABC Network Television Group from January 1993 to 1994, while being appointed as Capital Cities/ABC Senior Vice President in March 1993 and Executive Vice President in July 1993.[33]

In 1994, Iger was named President and Chief Operating Officer of ABC's corporate parent, Capital Cities/ABC.[7]

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.[6]

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. Disney called the change a promotion for Iger; however, the company's insistence was initially viewed with skepticism, as some thought Iger was being removed from day-to-day authority at ABC, since ABC had been struggling.[34]

Iger was named President of Disney in 2000, and later succeeded Michael Eisner as the CEO in 2005, after a successful effort by Roy E. Disney to shake up the management of the company.

Disney named Iger the President and Chief Operating Officer (COO) on January 24, 2000, making him Disney's #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.[35]

On March 13, 2005, Disney announced that Bob Iger would succeed Michael Eisner as CEO. On March 26, Iger reassigned Peter Murphy, Disney's Chief Strategic Officer, and pledged to disband the company's Strategic Planning division. Iger also vowed to restore much of the decision-making authority that the division had assumed to the company's individual business units.

Disney reconciled with former board members Roy E. Disney and Stanley Gold, who in July 2005 dropped their "Save Disney" campaign and agreed to work with Iger. In the process, Roy E. Disney was named a Director Emeritus and Consultant.

On January 24, 2006, Disney announced it would acquire Pixar for $7.4 billion in an all-stock transaction. The merger installed animator John Lasseter as Chief Creative Officer of the Disney/Pixar animation studios and Principal Creative Advisor for Walt Disney Imagineering, the division that designs theme park attractions. This acquisition made Steve Jobs Disney's top shareholder, with seven percent of outstanding shares, and gave him a new seat on Disney's Board of Directors. 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.

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.[36]

Iger at the World of Color Premiere, Disney California Adventure, June 2010

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.[37]

Iger has cited international expansion, technological innovation, and a renewed focus on traditional animation as Disney's top strategic priorities.[38] 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.[39]

On Tuesday November 15, 2011, Apple, Inc., now led by CEO Tim Cook after Steve Jobs's death, named Iger as a Director, and named Genentech Chairman Arthur Levinson, an Apple board member with a past membership on rival Google's board, as Jobs's replacement in the role of non-executive Chairman; both will serve on Apple's Audit Committee (Jobs had worked with Iger in the Pixar acquisition, making Jobs Disney's largest shareholder, and Iger licensed ABC shows to Apple for purchase through iTunes).[40]

In October 2012, Iger signed a deal with film producer George Lucas to purchase Lucasfilm Ltd. for $4 billion following several months of negotiations between the two men. As a result, Disney acquired the rights to the Star Wars multimedia franchise and Indiana Jones.[41] Disney has since embarked on plans to produce a series of Star Wars films and an Indiana Jones one. Following its release on December 18, 2015, Star Wars: The Force Awakens grossed over $2 billion at the box office. In addition, Iger has announced that the $5.5 billion Shanghai Disney Resort will open its doors on June 16, 2016.[42]

Iger's position as Disney's Chairman and CEO will remain until June 30, 2018.[43][44]

National Football League (NFL)

In November 2015, the Oakland Raiders and San Diego Chargers named Iger to head their effort to build a new stadium hosting both teams in Carson, California. Had the bid been accepted by the NFL, Iger would have had the option to purchase a minority ownership in one of the teams. NFL rules preventing him from having an ownership stake in both; however, with the NFL approving the Rams move to Los Angeles, along the Inglewood proposal, Iger is no longer the head of the Carson project; therefore, he can no longer purchase a stake in either team.[45]

Personal life

Iger has been married twice. His first marriage to Kathleen Susan Iger ended in divorce.[46] They had two children: Kathleen Pamela Iger and Amanda Iger. In 2005, Kathleen Pamela married Jarrod Alan Cushing in a civil ceremony at the Blithewold Mansion, Gardens and Arboretum in Rhode Island.[46]

In 1995, Iger married 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] However, Iger was named to President-elect Trump's Strategic and Policy Forum on December 2nd, 2016. [49]

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.[50][51]

In May 2015, Iger was named to the 25th Annual Broadcasting & Cable Hall of Fame. He was honored for his stewardship of the Walt Disney Company and his strategic vision focused on generating the best creative content possible, fostering innovation and utilizing the latest technology, and expanding into new markets around the world.[30]

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 significant contributions to the industry, and the impact his work has had on the lives of children worldwide.[18]

References

  1. 1 2 Variety Staff (December 23, 2015). "Disney CEO Bob Iger's Compensation Falls to $44.9 Million in 2015". Variety. Retrieved June 24, 2016.
  2. 1 2 3 4 "Disney Biography of Mr. Robert A. Iger". Retrieved 7 June 2016.
  3. ↑ "Executive Profile for Robert A. Iger". Bloomberg News. 5 May 2016. Retrieved 9 June 2016.
  4. 1 2 "Robert Iger 1951— Biography - sources for further information".
  5. ↑ "Robert Iger Biography". Encyclopedia of World Biography.
  6. 1 2 3 Newcomb, Horace, ed. (2004). Encyclopedia of Television. Routledge (Second edition). p. 1168. ISBN 978-1579583941.
  7. 1 2 "C-SPAN Biography of Mr. Robert A. Iger". C-SPAN.org. Retrieved 8 July 2016.
  8. ↑ Orwall, Bruce (March 4, 2004). "Eisner Steps Down as Disney Chairman". Wall Street Journal. Retrieved June 6, 2016.
  9. ↑ "Disney Press Release Naming Iger as New CEO". Wall Street Journal. March 13, 2005. Retrieved June 6, 2016.
  10. 1 2 Belloni, Matthew (22 June 2016). "In-Depth With Disney CEO Bob Iger". The Hollywood Reporter. Retrieved 23 June 2016.
  11. ↑ Daniel Miller; Hugo Martin (June 10, 2016). "Disney's new theme park in Shanghai may be the capstone to CEO Robert Iger's career". Los Angeles Times. Retrieved July 12, 2016.
  12. ↑ Sakoui, Anousha (5 May 2016). "Disney's Buying Spree Will Reshape Hollywood for Years to Come". Bloomberg Businessweek. Retrieved 3 June 2016.
  13. ↑ Garrahan, Matthew (March 7, 2016). "Bob Iger broadens Disney's horizons in age of disruption". Financial Times. Retrieved July 12, 2016.
  14. ↑ Kim, Susanna (1 July 2013). "Bob Iger to Remain Disney CEO, Chairman Through June 2016". ABC News. Retrieved 6 June 2016.
  15. ↑ "Diversity Leadership: Mr. Robert A. Iger, The Walt Disney Company". Retrieved 7 June 2016.
  16. ↑ "Johns Hopkins University Press Release". April 19, 2012. Retrieved 7 June 2016.
  17. ↑ "Broadcasting & Cable Press Release". May 4, 2015. Retrieved 20 June 2016.
  18. 1 2 "Toy Industry Association (TIA) Press Release". October 14, 2015. Retrieved 8 June 2016.
  19. ↑ "Arab voice of Donald Duck tweets for Israel to be 'demolished'". JTA. Retrieved 19 October 2013.
  20. ↑ Jewish Business News: "Bob Iger Talks Live Streaming for Disney’s Channels" February 5, 2015
  21. ↑ Financial Post: "Lawrence Solomon: The Jewish press and Israel" by Lawrence Solomon November 30, 2012
  22. ↑ Masters, Kim (September 12, 2011). "Does Disney's 9/11 Video Hint at Bob Iger's Political Aspirations?". The Hollywood Reporter. Retrieved October 6, 2011.
  23. ↑ Financial Post: "Here’s what 13 successful CEOs looked like in high school" by Alison Griswold December 14, 2013
  24. ↑ Whitehouse, Beth (July 23, 2013). "Disney CEO Robert Iger helps his LI elementary school get playground". Newsday. Retrieved April 16, 2015.
  25. ↑ "Ithaca College Alumnus Bob Iger Named Marketwatch CEO of the Year". Ithaca College. 2006.
  26. 1 2 Newsday: "Arthur L. Iger Obituary" May 25, 2010
  27. ↑ "Mimi Iger Obituary" March 13, 2013
  28. ↑ "NYT Notices, Willow Bay and Robert Iger". NYT. 2008.
  29. ↑ Temple Avodah website: "Famous members - Robert Iger, President & CEO, Disney Corporation" retrieved October 11, 2012
  30. 1 2 "Disney Press Release". May 4, 2015. Retrieved 20 June 2016.
  31. ↑ Barnes, Brooks (April 10, 2010). "Is Disney's Chief Having a Cinderella Moment?". The New York Times. Retrieved April 16, 2015.
  32. ↑ "Looking Beyond the Mouse". The Economist. January 26, 2006.
  33. ↑ Lowry, Brian (July 27, 1993). "ABC ups Iger, regroups divisions". Variety. Retrieved May 19, 2015.
  34. ↑ Weinraub, Bernard (January 25, 2000). "Disney Names New President In Reshuffling". The New York Times. Retrieved May 22, 2010.
  35. ↑ Goldsmith, Jill (January 24, 2000). "Iger tapped No. 2 as Mouse TV booms". Variety. Retrieved June 7, 2014.
  36. ↑ Weisman, Aly (6 August 2014). "Bob Iger: The Marvel Brand Is On Fire". Business Insider Australia. Retrieved 21 May 2016.
  37. ↑ "Disney Forum (TBA)  : News". Archived from the original on 24 December 2010.
  38. ↑ "Startups, Entrepreneurs and Innovation - Upstart Business Journal". Upstart Business Journal. 8 February 2016.
  39. ↑ "The Walt Disney Company Extends Contract to 2016 for Robert A. Iger" (Press release). The Walt Disney Company. Retrieved 2011-10-08.
  40. ↑ "Bob Iger Named Director Of Apple, Arthur Levinson Named Chairman Of The Board". Huffington Post. November 15, 2011.
  41. ↑ Leonard, Devin (8 March 2013). "How Disney Bought Lucasfilm—and Its Plans for Star Wars". Bloomberg. Retrieved 21 May 2016.
  42. ↑ Miller, David (8 March 2016). "Disney's Bob Iger discusses Shanghai resort, 'Star Wars' and ESPN at media conference". Los Angeles Times. Retrieved 21 May 2016.
  43. ↑ Graser, Marc (October 2, 2014). "Bob Iger to Remain Disney Chief through 2018". Variety. Retrieved October 8, 2014.
  44. ↑ Fritz, Ben (October 2, 2014). "Disney Extends CEO Bob Iger's Contract Until 2018". The Wall Street Journal. Retrieved October 8, 2014.
  45. ↑ Bonsignore, Vincent. "Disney CEO Bob Iger to lead Chargers-Raiders effort to bring NFL to Carson". Los Angeles Daily News. Retrieved November 13, 2015.
  46. 1 2 New York Times: "Kathleen Iger and Jarrod Cushing" September 25, 2005
  47. ↑ "Willow Bay And Robert Iger". The New York Times. October 8, 1995. Retrieved February 13, 2014.
  48. ↑ "Hillary Clinton Fundraisers Coming to Beverly Hills". The Beverly Hills Courier. August 3, 2016. Retrieved August 5, 2016.
  49. ↑ "Disney's Bob Iger named to Donald Trump's new President's Strategic and Policy Forum".
  50. ↑ US Shoah Foundation: "Steven Spielberg and USC Shoah Foundation Institute honor Robert A. Iger, Chairman and CEO of the Walt Disney Company" June 11, 2012
  51. ↑ "Disney's Robert A. Iger Accepts the 2012 Ambassador for Humanity Award". USC Shoah Foundation Institute. YouTube.com. 6 June 2012. Retrieved 20 July 2016.

External links

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
2000–2012 		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
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