The Disney CEO and chairman seems bemused by last week’s effort by shareholder rights advocates to split the company’s two top jobs when he steps down. “This is essentially a cause looking for a problem,” Bob Iger told CNBC’s Maria Bartiromo in an interview this afternoon. “We do not have governance issues” at Disney, where nine of the 10 directors are independent and the company stock is trading near its all-time high. “We just don’t have a problem here.” Iger added that there are “no statistics that prove” companies run into conflict of interest trouble when the person who runs management also oversees the group that’s supposed to hold him or her accountable. “If you have an experienced, independent and engaged board” then “it doesn’t matter.” Last week holders of 35.5% of Disney’s shares supported a resolution urging the board to split the CEO and chairman jobs — and 42.1% opposed directors’ executive compensation decisions. Critics including proxy advisory firms Institutional Shareholder Services and Glass Lewis said, among other things, that the board hadn’t adequately tied Iger’s pay to performance. His compensation in fiscal 2012 came to $40M, a 20.3% raise, and they say the contract he negotiated in 2011 guaranteed him at least $30M even if the stock had not popped as much as it did.


As much as I like Bob, and what he has allowed to happen under his watch…he is well to remember the reason he sits where he does now. There IS a problem when a CEO is also Chairman…the only reason he didn’t get slapped THIS time is that the market, and his brilliant cadre of underlings such as Feige, Skipper and Lasseter have pushed DIS to one new high after the next.
I think Bob is a mostly ethical, conscientious Suit…he has done good things in his time here, but we must never allow a repeat of what happened here before.
You never answered why he shouldn’t be chairman and CEO. The stock is reaching all time highs which means people believe in what hes doing to invest their savings in DIS. Btw, Steve jobs was chairman and CEO during Apple’s incredible run. How did that turn out?
If it’s not a problem then why have the two separate positions in the first place? Answer: It IS a problem.
If the man behind the CEO and Chairman title has humility, integrity and a moral compass it should not be an issue at all.
When power,wealth and pride collides then it’s just a matter of time before the downfall.
I think Mr. Iger takes the responsibility of his choices and decisions seriously and will not walk down the well trodden path of so many headliners.