During the Disney Annual Shareholders Meeting this morning Disney CEO Bob Iger spoke out about the actions of Florida Governor Ron DeSantis against The Walt Disney Company. The Disney CEO was responding to a question during the Q&A period at the end of the meeting. The response was in reaction to a question about Disney’s “woke agenda,” per the person asking the question. Iger’s response gracefully showed a love for Florida and freedom of speech while also calling out the actions of Governor DeSantis for an attack on the Disney’s freedom of speech.
“Let me if you don’t mind let me address this issue which I haven’t really done much publicly. But I’d love the opportunity just to put it all in perspective. First of all, I know you said you’re a resident, I think of Melbourne, Florida. We love the state of Florida. And I think that’s reflected in not only how much we’ve invested over the last 50 years, but how much we’ve given back in the form of jobs and community service taxes which you brought up, tourism, of course, and all sorts of other responsible business practices. We’ve also always respected and appreciated what the state has done for us. It’s kind of been a two-way street,” Iger said.
Iger continued on with an assessment that the first response to the “Don’t Say Gay” bill by his predecessor former Disney CEO Bob Chapek was not handled well. In fact, he said it was “botched.”
“But a year ago, the company took a position on pending Florida legislation. And while the company may have not handled the position that it took very well, a company has a right to freedom of speech just like individuals do,” Iger said. “And obviously in taking the position, the governor got very angry about the position Disney took and seems like he’s decided to retaliate against us, including the naming of a new board to oversee the property and the business, in effect to seek to punish a company for its exercise of a constitutional right and that just seems really wrong to me, against any company or individual but particularly against the company that means so much to the state that you live in. That you can put that in perspective we have over 75,000 employees which I noted in my opening countless thousands of indirect jobs have been created.”
Iger was not done. He continued to build the case for Disney in Florida saying, “About 50 million visitors will go through our gates this year alone, about 8 million of them from outside the US and we are the largest taxpayer in the state. And you may find this interesting as it relates to future taxes but we’re currently planning now to invest over $17 billion in Walt Disney World over the next 10 years. And those investments we estimate will create 13,000 new Disney jobs and thousands of other indirect jobs and they’ll also attract more people to the state and generate more taxes. And so our point on this isn’t any action is that towards those efforts, simply to retaliate for a position the company took sounds not just anti-business but it sounds anti-Florida, and I’ll just leave it at that.”
This wasn’t the only question that connected with Disney and political fights. Another question was about Disney standing up for different things politically. The caller wondered if by Disney taking a stand on positions if it was alienating current or future customers. This comes after Disney has made stances in situations like that in Florida and also other stances through the years that are what Disney leadership feels is in the best interests of its business and its employees.
“As the CEO of the company, I think my job is to strive to do what I think is best for our business. And that includes doing best what’s best for our cast members or our employees and what will enable both to flourish? I don’t think we should or can weigh in on every issue. And I also understand there are going to be gray areas, there are going to times and we decided to weigh in on an issue that we believe is worthy of debate because of its relevance and importance to our business or to our employees,” Iger explained.
Iger continued saying, “And there are times when I’ve actually believed we shouldn’t, but I strongly feel that we alone have to determine whether when or how to weigh in on a on an issue, whether it’s private or public. Of course with the standard that when we take a position on those matters, there’s a true reason why we have. In almost all cases it has to be because it directly affects our business or our people. And I think if you look back, you know, for decades, corporate America has expressed themselves on numerous issues of both right and wrong and our country, I think, is better off for that. And it was evident during the Civil Rights era, as I recall as a child, when a lot of companies weighed in on injustice is that they saw in America. It was certainly true during World War II when those that stood in silence, in some ways, still carry the state of indifference. As long as I’m in the job, I’m going to continue to be guided by a sense of decency and respect and trust our instincts that when we do weigh in, we weigh in because the issue is truly relevant to our business and to the people that work for us.”
Iger speaking out against the actions of Florida Governor Ron DeSantis came as the Governor ordered an investigation by Florida’s inspector general into whether the former Reedy Creek Improvement District board of directors adhered to “civil and criminal laws and ethics requirements” when it entered into the longterm development agreement with Disney that was made before the state took over the district and renamed it.
At this point, Disney seems to be standing by the deal it made with the former Reedy Creek Improvement District. Last week, it released a statement saying, “All agreements signed between Disney and the district were appropriate and were discussed and approved in open, noticed public forums in compliance with Florida’s Government.” While Disney stands by the agreement, Florida looks to undo it. Expect more developments to come to this story as things move forward.
What do you think about Bob Iger’s statement in regards to the events happening in Florida? Share your thoughts and opinions in the comments below in a kind way.
