Brent Lang
Senior Film and Media Reporter
The shocking and sudden departure of Thomas Staggs as Walt Disney
Company’s chief operating officer Monday has blown open the race to
succeed Bob Iger atop the entertainment giant. It likely means that for
the first time since the 1980s, Disney will look outside its ranks for a
new leader to guide the company through an era of tremendous changes in
the entertainment landscape.
“For the first time in memory they’re going to go outside for a CEO,” said Laura Martin, an analyst with Needham & Company. “That’s a big thing. Given the unique culture of the Walt Disney Company it was widely expected that a successor to Bob Iger had to come from within.”
“Wall Street doesn’t like uncertainty and hiring someone from outside after they’ve jettisoned the heir apparent adds uncertainty,” she added.
The difficulty with finding someone to fill Iger’s shoes is that the Disney job requires a variety of expertise. Its vast holdings include gaming, film, television, theme parks, and merchandising.
“Its breadth of activities in media and entertainment are very broad,” said Hal Vogel, a media analyst. “No one is an expert in everything, but the next leader has to have experience in a lot of different types of businesses.”
In the aftermath of the Staggs announcement, speculation swirled that Facebook COO Sheryl Sandberg, who is already a Disney board member, might be an attractive successor. At 46, she would be a young enough to guide the company for decades, and has the Silicon Valley bona fides to help Disney adapt to the digital era.
“For the first time in memory they’re going to go outside for a CEO,” said Laura Martin, an analyst with Needham & Company. “That’s a big thing. Given the unique culture of the Walt Disney Company it was widely expected that a successor to Bob Iger had to come from within.”
“Wall Street doesn’t like uncertainty and hiring someone from outside after they’ve jettisoned the heir apparent adds uncertainty,” she added.
The difficulty with finding someone to fill Iger’s shoes is that the Disney job requires a variety of expertise. Its vast holdings include gaming, film, television, theme parks, and merchandising.
“Its breadth of activities in media and entertainment are very broad,” said Hal Vogel, a media analyst. “No one is an expert in everything, but the next leader has to have experience in a lot of different types of businesses.”
In the aftermath of the Staggs announcement, speculation swirled that Facebook COO Sheryl Sandberg, who is already a Disney board member, might be an attractive successor. At 46, she would be a young enough to guide the company for decades, and has the Silicon Valley bona fides to help Disney adapt to the digital era.
No comments:
Post a Comment