‘Dull’ boss who turned out to be Disney’s knight in shining armour
What else would you expect from the man who greenlit the weirdest show ever to hit US network TV?
The annals of corporate history are littered with takeovers gone bad that destroyed hundreds of billions of shareholder value. The prevailing view is M&A doesn’t pay off in the long run – but Bob Iger may beg to differ.
The Disney chief executive revealed on Tuesday night he would quit as chief executive immediately, becoming executive chairperson until the end of 2021.
He made a series of acquisitions in his 15 years running the House of Mouse, starting with Pixar in 2006. Buying the animation studio founded by Steve Jobs came with a huge price tag of $7.4bn but was instrumental in reviving a then-struggling Disney by bringing big-screen hits including Toy Story and Finding Nemo under its umbrella...