Hot off the heels of major news by the President of the United States, Donald Trump, that has major Political and Environmental impacts. Disney CEO Robert Iger has resigned from Trump’s advisory panels.
Early in March, at the annual meeting of shareholders Disney CEO Robert ‘Bob’ Iger rejected claims by some shareholders that his membership on President Trump’s Business Advisory Council provides a de facto endorsement of the administration’s policies and actions. Today however after President Trump announced plans for the United States to unilaterally withdraw from the Paris Agreement under the United Nations Framework Convention on Climate Change. Bob Iger announced his resignation via his personal Twitter account. Bob Iger said that it was a “a matter of principle, I’ve resigned from the President’s Council over the
As a matter of principle, I’ve resigned from the President’s Council over the #ParisAgreement withdrawal.
— Robert Iger (@RobertIger) June 1, 2017
Bob Iger is the second known person to have resigned from the Presidents Councils today after Elon Musk whom the latter was threatening since early yesterday to resign when the news broke. Bob Iger who is a Democrat, had wanted to stay on council to try and influence the president. At the annual shareholder meeting, Bob Iger said that in regards to being on the President’s business council that it was a “privileged opportunity to have a voice in the room” to express views that are “in the best interest of the company and its values.”
Bob Iger in Late March of 2017 told CNN, “Well that’s very nice of you. I have a full time job right now, it’s called CEO of The Walt Disney Company, and I don’t think the notion of running for president is something anyone considers either on a part time basis or a frivolous way.” CNN then asked Bob Iger “Will you step down from your position on Trump’s policy advisory committee?” Bob Iger’s reply to the question was that he’s “actually already addressed this. I think it’s an opportunity to have the opportunity to speak directly to the President and his administration and I intend to stay on the council and be a voice for Disney, its shareholders, its employees, maybe the fans and in the industry — I’m the only one from the entertainment industry on that one.”
What does this mean for Bob Iger’s future political aspirations? In Early May, Bob Iger said “I’m not spending much time thinking about what I’m going to do next,” Iger telling CNBC’s “Closing Bell” after Disney reported quarterly earnings. However, a few days before his appearance on CNBC’s “Closing Bell”, the online website Axios said that Bob Iger is “clearly intrigued by the idea, according to industry sources. Iger has discussed the feasibility with friends but has made no formal moves.”
In Bob Iger’s recent contract renewal, his new departure date from the Walt Disney Company is July 2, 2019. However, in the end of his contract, he has to still provide 3 years of consultation. If he is forced out or voluntarily resigns, then under his new contract, it would be deemed conditional rights as per his contract. So if Bob Iger was to voluntarily resign, he could be able to run for president and not have to provide consultation services to The Walt Disney Company.