Iger Leaves Behind Six-Page Letter to Successor D'Amaro at The Walt Disney Co.

Disney's Bob Iger has revealed that he wrote a six-page letter to his successor Josh D'Amaro and left it in his desk. The move is reminiscent of an Oval Office tradition where outgoing Presidents leave behind letters for their successors.

Iger, who stepped down as CEO earlier this year, said the letter was intended to be short but ended up being six pages long. He emphasized that his successor should be aware of the immense influence they have over the company and take responsibility for exerting that influence wisely.

Iger's experience with succession is notable given his previous retirement in 2020, which was short-lived after Disney's board asked him to return due to concerns about his chosen successor, Bob Chapek. In a new memoir, Chapek gives his side of the story and reveals that Iger may have underestimated some of Chapek's weaknesses.

Iger also reflected on how the business environment has changed since COVID-19, citing an 'age where crisis is almost omnipresent.' He believes this requires CEOs to possess unique qualities such as stamina, resilience, and the ability to balance optimism with realism in times of crisis.