Disney just announced it was hiring a search firm to look for Michael Eisner's replacement...and that Bob Iger would be included as a candidate.
Bad idea. That means over the next two years Disney will be led--if that's the term--by a lame duck CEO and a president jockeying for the big job. Not to mention a chairman, George Mitchell, who's expressed frustration over the time HIS job is taking, and would rather be Secretary of State in a Kerry administration.
Could this have been bungled any more? If the shareholders were let down by a committed Eisner and Iger, how will their interests be served by a "Distracted Duo"?
Eisner should be gone in six months with a replacement in place by then.
Shouldn't the board know by now if Iger is ready? A company that can't move that quickly isn't able to compete in today's blindingly fast competitive environment.
Disney has too many challenges to wait...the primary one being that it is a bi-polar red and blue state company. Miramax is its blue side, and its theme parks are red.
It's tough to develop a corporate culture when your brand is so schizoid...but leaving flawed and otherwise engaged leadership in place isn't the answer.