Steve Jobs, the co-founder of Apple Inc., offered a profound piece of advice to Bob Iger, the CEO of Walt Disney Co., shortly before his death in 2011: retire and enjoy life. This advice, given by a man worth an estimated $10.2 billion at the time, underscores the importance of experiencing life’s joys rather than solely focusing on accumulating wealth. This sentiment was echoed in a 1996 PBS documentary where Jobs famously said, “It wasn’t that important,” referring to his wealth.
Nearly a decade later, Iger found himself reflecting on Jobs’ advice as he considered his own future at Disney. The New York Times reported that Iger contemplated Jobs’ words during his departure from the CEO role in 2020 and his subsequent return in 2022. In 2021, Iger told CNBC that he stepped down because he felt he was becoming dismissive of other perspectives. Despite stepping down, Iger remained deeply involved in Disney’s operations, leading to friction with his successor, Bob Chapek. This friction ultimately resulted in Chapek’s dismissal and Iger’s return as CEO.
Currently, Iger is focused on finding his successor and is eager to retire. He mentioned in a podcast with Kelly Ripa that he is “obsessed” with CEO succession, a priority established by the board upon his return. This focus on smooth leadership transition is crucial for Disney’s future stability.
The advice from Jobs to Iger holds significant weight, given Jobs’ reputation as a visionary leader. His management style, which blended creativity and business acumen, has left an enduring influence on various sectors. Jobs’ belief in the limited value of management consultants compared to business owners emphasizes his dedication to hands-on leadership.
Iger’s journey at Disney has been marked by both remarkable achievements and challenging situations. His return as CEO in 2022 was a pivotal moment, especially considering the tension with his predecessor. During a second-quarter earnings call in May, Iger assured a “smooth transition” for the next CEO, though he remained tight-lipped about specific plans.
Furthermore, Iger’s potential acquisition of a stake in the women’s soccer team Angel City highlights his continued influence and interest in diverse ventures. This move could set a record for the priciest women’s sports team, further cementing Iger’s legacy as a multifaceted leader. Jobs’ advice to Iger serves as a reminder that life’s true riches often lie beyond the pursuit of material wealth. As Iger prepares for retirement, he carries with him the wisdom of a visionary leader, shaping his future decisions and ensuring a smooth transition for the next generation at Disney.
