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When CEOs unexpectedly leave, don't they usually do it because they know something? Have there been CEOs in the past that have "left", but actually been forced

When CEOs unexpectedly leave, don't they usually do it because they know something? Have there been CEOs in the past that have "left", but actually been forced out due to scandal? It seems like there's been a few attempts at that, but of the cases I know, the CEOs seem to fight back and try to keep their position.

pixl97 7y ago
>When CEOs unexpectedly leave, don't they usually do it because they know something That in theater revenue is about to tank because of virus fears? Then again I have no idea how much of Disney revenue occurs at the movies.
- madrox 7y ago
  They do better than most other studios, but that's a declining segment. Also, it represents a very, very small part of Disney's overall revenue. If everyone literally stopped going to theaters tomorrow then Disney would still be earning billions a year. Also, you can't blame the CEO for sales being down during an epidemic. No one else would do better.
  - jedieaston 7y ago
    Maybe, maybe not. Because if no one goes to movies and no theme parks, then..?
    - dragontamer 7y ago
      Then no one subscribes to Disney+ streaming, and if no one buys Disney clothes or toys, and if no one goes on Disney Cruises, and if everybody stopped watching ESPN Sports or sports on ABC (including football). Then maybe... just maybe... Disney will start to have some issues.
    - Retric 7y ago
      Just start looking through this list it’s an insane 240Billion dollar conglomerate: https://en.wikipedia.org/wiki/List_of_assets_owned_by_The_Walt_Disney_Company https://en.wikipedia.org/wiki/List_of_assets_owned_by_The_Wa...
- usrusr 7y ago
  Would be made up tenfold in streaming when everyone avoids public entertainment, with less middlemen, and tanking theatre sales would still be available as a convenient excuse if needed. It couldn't possibly be about virus fears.
- mrandish 7y ago
  Iger's been CEO for 15 years and is on an amazing winning streak for Disney over the past few years. A Coronavirus-driven revenue miss would only be a one or two-quarter blip and it would impact the whole industry equally. No way that has anything to do with this. Iger was clearly setting up a graceful exit in 22 months after a legendary career. Sadly, I suspect that it's a serious life-threatening illness or other unexpected personal crisis. The way it's been announced though it might be something like a serious illness with a spouse or immediate family member.
- agumonkey 7y ago
  yeah but shareholders aren't that immature, they know it's tangential
madrox 7y ago
This is somewhat special in that Bob has been planning to retire for quite some time. His contract is up at the end of next year and every indication was that he intended to honor that. What feels weird is how Disney is executing the succession plan. Again, I don't think it's scandal. If it were, he wouldn't stay through his contract and he wouldn't still be chairman. I don't even think it's bad performance, because the only hits to earnings predictions have been things outside their control, like the coronavirus. Again, feels weird.
NoOneNew 7y ago
15 years as CEO. Doubled yearly revenue since takeover. Bought and/or grew some of the most valuable entertainment IPs on the planet right now. Took an 800-pound gorilla status company and turned it into a cosmic-god-like powerhouse feared by the rest of us mere-mortals. Pretty sure he just wants to leave on a high note and enjoy himself at this point. The dude is human after all. That kind of commitment does take a toll on you.
- dave5104 7y ago
  Sure, I agree with the mindset of how Iger is probably wanting to be done. But a less alarming way about it would be announcing that Iger will be stepping down as CEO "at the end of the quarter." Not "immediately" and not being put into a consulting role for 22 months of his remaining contract.
  - NoOneNew 7y ago
    >Iger will assume the role of executive chairman through 2021 according to Disney’s statement. Look, I don't give a shit if this guy lives or dies in a fire tomorrow. I'm not defending him. If the news was he hung himself today, I'm still going to wake up tomorrow at 4:55am, pee, drink some water, and go jog. Just like I did this morning. I might get dressed after I jog, that I play by ear. But I feel like you're making a mountain out of a conspiracy theory molehill. Again, he's human. Maybe he's been diagnosed with something? Maybe a family member isn't doing well and he feels guilty for wasting the last 15 years on something silly as money? Maybe he found Jesus? Maybe he had a severe mental breakdown? Maybe he found a new young hot thing to run away with and live on an island? Maybe he wants to go be an impressionist painter full time? All of those reasons are perfectly reasonable to not care about "alarming" people he doesn't know (the general public). While it's fine to think something may be fishy, you can't rely on one piece of circumstantial evidence to start throwing out conjecture willy-nilly. To make a decent event forecast, you need at bare minimum three independently sourced bits of circumstantial evidence to even start feeling you might be on to something. That's bare minimum just to warrant doing a real dive. Other than that, you're just grabbing smoke and chasing ghosts.
  - notatoad 7y ago
oh_sigh 7y ago
Disney was pushing the "Bob Iger recreates Disney with Disney+" story for months recently...presumably they would have lessened his perceived role in the media if it meant having a smoother transition. From my perspective the reason for his retirement is something that has come up within the past 4 months or so.

pixl97 7y ago

>When CEOs unexpectedly leave, don't they usually do it because they know something That in theater revenue is about to tank because of virus fears? Then again I have no idea how much of Disney revenue occurs at the movies.

madrox 7y ago
They do better than most other studios, but that's a declining segment. Also, it represents a very, very small part of Disney's overall revenue. If everyone literally stopped going to theaters tomorrow then Disney would still be earning billions a year. Also, you can't blame the CEO for sales being down during an epidemic. No one else would do better.
- jedieaston 7y ago
  Maybe, maybe not. Because if no one goes to movies and no theme parks, then..?
  - dragontamer 7y ago
    Then no one subscribes to Disney+ streaming, and if no one buys Disney clothes or toys, and if no one goes on Disney Cruises, and if everybody stopped watching ESPN Sports or sports on ABC (including football). Then maybe... just maybe... Disney will start to have some issues.
  - Retric 7y ago
    Just start looking through this list it’s an insane 240Billion dollar conglomerate: https://en.wikipedia.org/wiki/List_of_assets_owned_by_The_Walt_Disney_Company https://en.wikipedia.org/wiki/List_of_assets_owned_by_The_Wa...
usrusr 7y ago
Would be made up tenfold in streaming when everyone avoids public entertainment, with less middlemen, and tanking theatre sales would still be available as a convenient excuse if needed. It couldn't possibly be about virus fears.
mrandish 7y ago
Iger's been CEO for 15 years and is on an amazing winning streak for Disney over the past few years. A Coronavirus-driven revenue miss would only be a one or two-quarter blip and it would impact the whole industry equally. No way that has anything to do with this. Iger was clearly setting up a graceful exit in 22 months after a legendary career. Sadly, I suspect that it's a serious life-threatening illness or other unexpected personal crisis. The way it's been announced though it might be something like a serious illness with a spouse or immediate family member.
agumonkey 7y ago
yeah but shareholders aren't that immature, they know it's tangential

madrox 7y ago

This is somewhat special in that Bob has been planning to retire for quite some time. His contract is up at the end of next year and every indication was that he intended to honor that. What feels weird is how Disney is executing the succession plan. Again, I don't think it's scandal. If it were, he wouldn't stay through his contract and he wouldn't still be chairman. I don't even think it's bad performance, because the only hits to earnings predictions have been things outside their control, like the coronavirus. Again, feels weird.

NoOneNew 7y ago

15 years as CEO. Doubled yearly revenue since takeover. Bought and/or grew some of the most valuable entertainment IPs on the planet right now. Took an 800-pound gorilla status company and turned it into a cosmic-god-like powerhouse feared by the rest of us mere-mortals. Pretty sure he just wants to leave on a high note and enjoy himself at this point. The dude is human after all. That kind of commitment does take a toll on you.

dave5104 7y ago
Sure, I agree with the mindset of how Iger is probably wanting to be done. But a less alarming way about it would be announcing that Iger will be stepping down as CEO "at the end of the quarter." Not "immediately" and not being put into a consulting role for 22 months of his remaining contract.
- NoOneNew 7y ago
  >Iger will assume the role of executive chairman through 2021 according to Disney’s statement. Look, I don't give a shit if this guy lives or dies in a fire tomorrow. I'm not defending him. If the news was he hung himself today, I'm still going to wake up tomorrow at 4:55am, pee, drink some water, and go jog. Just like I did this morning. I might get dressed after I jog, that I play by ear. But I feel like you're making a mountain out of a conspiracy theory molehill. Again, he's human. Maybe he's been diagnosed with something? Maybe a family member isn't doing well and he feels guilty for wasting the last 15 years on something silly as money? Maybe he found Jesus? Maybe he had a severe mental breakdown? Maybe he found a new young hot thing to run away with and live on an island? Maybe he wants to go be an impressionist painter full time? All of those reasons are perfectly reasonable to not care about "alarming" people he doesn't know (the general public). While it's fine to think something may be fishy, you can't rely on one piece of circumstantial evidence to start throwing out conjecture willy-nilly. To make a decent event forecast, you need at bare minimum three independently sourced bits of circumstantial evidence to even start feeling you might be on to something. That's bare minimum just to warrant doing a real dive. Other than that, you're just grabbing smoke and chasing ghosts.
- notatoad 7y ago

oh_sigh 7y ago

Disney was pushing the "Bob Iger recreates Disney with Disney+" story for months recently...presumably they would have lessened his perceived role in the media if it meant having a smoother transition. From my perspective the reason for his retirement is something that has come up within the past 4 months or so.