Robert Iger Named New Disney CEO

The Walt Disney Company Board of Directors announced today that Robert A. Iger has been unanimously elected Chief Executive Officer of the Walt Disney Company effective September 30, 2005. He will succeed Michael D. Eisner, current CEO, who announced his intention to retire in a letter to the Board last year, and will step down as CEO on September 30, 2005. Iger first became part of Disney's management team in 1996, when The Walt Disney Company acquired Capital Cities/ABC, where Iger had been president and chief operating officer. Iger has been chairman of the Disney-owned ABC Group, and guided the complex merger of ABC with The Walt Disney Company. He has also been president of Walt Disney International, where he created an organization embracing Europe, the Asia-Pacific Region and Latin America. As Disney's president and chief operating officer, Iger works with Michael D. Eisner, chief executive officer, in overseeing all aspects of The Walt Disney Company's operations on a worldwide basis. It is unsure how this change in leadership will affect the Muppet Holding Company, the division of Disney that over sees the Muppets and Bear in the Big Blue House properties. Eisner, who was a driving force in the Muppet/Disney deal, has been a strong supporter of building the Muppets up and working with the characters - lets hope that Iger understands, recognizes, and supports the Muppets as well...only time will tell.