Things with Disney’s executive team have been in flux lately.

Bob Chapek is no longer CEO, a new chairman of the Board will be starting soon, some executives have left, others are set to return, and job cuts could impact many employees across the Company. And while Bob Iger has returned to the CEO position for a 2-year run, one former Disney CEO has indicated that LEAVING the Company is what may have actually helped him to keep on living.

Michael Eisner had a 21-year tenure with Disney and ultimately served as CEO, stepping down in September 2005. Eisner was actually one of the people who posted a welcome message to Iger when he came back, has commented on Chapek in the past, and has discussed Disney’s history in recent years (noting that it has “suffered” recently. During a recent interview with Squawk on the Street, Eisner spoke up on some Disney-related matters again.

In speaking about Iger, he shared that Iger’s return to the CEO position was a great move for Disney. But he admitted being nervous for Iger since Iger left with a “10++++ rating” and will now have a lot of headwinds to deal with. Eisner shared that he’s rooting for Iger though.

Click here to see Eisner’s full comments about Iger’s return

Eisner noted that Iger was “pretty right going back,” but it seems that leaving the Company was the right choice for Eisner personally. One interviewer noted that Disney CEOs never want to leave. Eisner responded by saying “it’s a great job.” But he noted that “having 20 scripts by [his] bed unread every night for 40 years (including paramount and ABC)” is a lot of work.

Eisner shared, “it’s kind of nice having a little more time.” He went on to say “I think I’m still alive because I retired from Disney, I didn’t retire from life…It worked out.”

This isn’t the first time Eisner has commented about leaving and how that was a good choice for him. Previously, Eisner commented on Iger’s initial departure from Disney and said, “We’ve talked about it. Having 50 unanswered emails, and seven scripts you haven’t read and 30 phone calls you haven’t returned…Getting off that treadmill is not a horrible thing.”

So it seems that at least for Eisner, leaving Disney was the right call. You can see more from his recent interview below.

Who says you can't go home? @Michael_Eisner says it was "a great move for $DIS" to bring back Bob Iger as CEO. pic.twitter.com/yFSK5JdXWG

— Squawk on the Street (@SquawkStreet) March 14, 2023

It is important to note, however, that Eisner’s own departure was full of controversy. Roy E. Disney (son of Roy O. Disney, nephew of Walt Disney) actually quit The Walt Disney Company Board around 2004. Why? Well, he cited a number of reasons including mismanagement by CEO Michael Eisner, as well as problems with morale, declines in investment in and business at Disney’s theme parks, the loss of creative talent, and Eisner’s failure to name a successor.

In his resignation letter, Roy E. Disney said, “In conclusion, Michael, it is my sincere belief that it is you who should be leaving and not me.”

Eisner did have some great success at Disney but became involved in a lawsuit regarding Jeffrey Katzenberg (the former Disney movie studio head) and a severance package worth millions that was given to Michael Ovitz (he served as Disney president under Eisner for a brief period of time).

By the time Roy E. Disney resigned, Disney’s stock had been declining, and ABC TV was not doing well in terms of ratings. In 2004, 43% of the voting shareholders at Disney actually expressed a lack of confidence in Eisner. A new chairman of the board was appointed, but Eisner stuck around as CEO for a year and a half more until he formally resigned. It was Iger who then succeeded him.

In short, it’s not always smooth sailing for Disney’s CEOs even if it is a “great job.” To learn more about other Disney CEO scandals you’ve totally forgotten, click here.

For more CEO-related stories, check out the posts below:

• Will Disney Need Two CEOs To Replace Bob Iger?
• 3 Big Problems Bob Iger Is Facing Right Now
• Former TikTok CEO Could REPLACE Bob Iger at Disney
• Bob Iger Comments on His Search for the Next Disney CEO

And stay tuned for more Disney news!

Click here to see what “out-of-the-box candidate” could replace Bob Iger at Disney

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