Bob Iger Is Back As CEO Of Disney: Four Lessons For Leaders
Last week, Disney reappointed Bob Iger as its chief executive, after ousting Bob Chapek. The latter held the position for less than three years. Earlier this month, data showed that Disney+ had lost nearly $1.5 billion in the three months to September’s end, which likely played a role in the decision to bring Iger back.
His return to prominence may indicate that Disney is taking its streaming ambitions seriously amid increasing competition from the likes of Amazon, Apple, and HBO Max. More than 235 million people have subscriptions to at least one of Disney’s three streaming platforms, which include the sports-focused ESPN+ and wider entertainment site Hulu. By way of comparison, Netflix has 227 million subscribers, according to the Financial Times.
Iger is tasked with growing Disney’s streaming services while also managing its traditional businesses—including theme parks, which were hit hard by the coronavirus pandemic as governments imposed travel restrictions. Walt Disney World has since reopened in Florida, though attendance is still far lower than before the crisis. But with Iger back at the helm, it appears the company is better equipped to tackle the ever-evolving entertainment landscape—and come out on top. It also provides a lesson for leaders on boomerang workers: when you have the right person for a job, it’s worth bringing them back.
Boomerang workers, also known as returners, are experienced personnel who have left their jobs for a period of time, often to raise a family or pursue other interests. They can bring valuable expertise and fresh perspectives to the workplace, making them attractive candidates when companies look to fill executive roles. Iger’s reappointment shows that Disney understands this and is willing to take a chance on the right person.
According to research published by MIT Sloan Management Review, companies with flexible working policies that encourage boomerang working access a larger talent pool. At the same time, employees benefit from the experience they have gained away from their original role.
Iger’s return will likely encourage other companies to consider giving experienced individuals a second chance—regardless of how long they’ve been away from the workplace. Consider the advantages a boomerang worker can bring to your business — click the button for four ways you can.