Disney is "increasingly likely to turn to an outside candidate" to succeed Chair & CEO BOB IGER, according to Daniel Miller of the L.A. TIMES. Analysts said that while there is "plenty of major talent among Disney's executive ranks, there are few internal candidates who have the management experience necessary for taking on the top job at the world's largest entertainment company." Many of Disney's division heads are "relatively new to their posts, and don't have the sort of long-term tenures in top jobs or breadth of management experience that the company typically seeks." ESPN President JOHN SKIPPER is "well regarded, and has creative chops, but ESPN's growth prospects have become increasingly scrutinized by investors in recent months." Disney Chair of Consumer Products & Interactive Media JAMES PITARO is "a relative newcomer" to the company, having joined in '10 (LATIMES.com, 4/5). In N.Y., Claire Atkinson notes two people "mentioned as possible Iger successors" are Disney Media Networks co-Chair BEN SHERWOOD and Facebook COO SHERYL SANDBERG. Sources said that Sherwood has been "aggressively positioning himself inside the kingdom" (N.Y. POST, 4/6). But S&P Global Market Intelligence analyst TUNA AMOBI said, "It's hard to point to any internal candidate they'll go with at this point" (ORLANDO SENTINEL, 4/6).
STAY ON THE JOB, BOB: The WALL STREET JOURNAL's Fritz & Feintzeig write unless Disney's BOD "selects a new candidate soon, that person would have less than two years" to spend working with Iger, "learning about Disney’s corporate culture and other aspects of the job." Sources said that this makes it "more likely" Iger will "stay past his planned retirement date." But Iger "hasn't given any indication he plans" to stay on past '18. The board is "looking for someone to continue" Iger’s strategy, rather than "take Disney in a new direction." Skipper "has worked at the company 19 years, but has no experience in Disney’s entertainment businesses outside of sports" (WALL STREET JOURNAL, 4/6). The HOLLYWOOD REPORTER's Bond & Szalai cited sources as saying that the "best option for Disney is to extend Iger for a few more years, and some speculate that the possibility of that scenario is at the heart" of COO TOM STAGGS' "decision to leave the company." Iger also "might be reconsidering his planned resignation from Disney after he was involved in a failed effort to build an NFL stadium" in Carson, Calif. (HOLLYWOODREPORTER.com, 4/4). The L.A. TIMES' Miller writes a "potential next act for Iger fizzled a few months ago" with the failure of the Carson project. Although Disney is "known for its strong corps of executives, the early consensus is that none of them have the depth and breadth of experience to succeed Iger" (L.A. TIMES, 4/6).
BIG SHOES TO FILL: In N.Y., Brooks Barnes writes Iger is a "seasoned, charismatic leader" who can "calmly focus the company on the future." But there is "a downside: Nobody can seemingly measure up, complicating succession at a company that has a terrible track record on that front." Wall Street "had a muted reaction" to Staggs’ withdrawal, as Disney shares yesterday closed down 1.7% (N.Y. TIMES, 4/6). At presstime, shares of Disney were trading at $97.48, up 0.5% from the close of business yesterday (THE DAILY).
