Interview with Bob Iger

Dwyane Wade's "The Why" podcast recently welcomed a guest whose career trajectory is nothing short of legendary: Bob Iger. From his humble beginnings as a reporter to steering the colossal ship of The Walt Disney Company for decades, Iger’s conversation with Wade offered a rare glimpse into the mind of a leader who has shaped global entertainment and returned to the helm when his company needed him most.

The Unretirement of a Titan

When Dwyane Wade questioned Bob Iger about his return to Disney after a meticulously planned retirement in 2020, Iger’s response painted a picture of duty and profound affection. Having spent 15 years as CEO and a staggering 47 years at the company (now 50), Iger genuinely sought to discover if "there life after Disney," even going so far as to have a license plate reflecting that curiosity. Yet, when his chosen successor’s tenure didn't pan out and the board called, Iger found himself compelled to step back into the CEO role.

"I felt I had no choice but to say yes," Iger explained, highlighting not only his extensive history with the company but also his deep-seated love for what Disney represents. He described the unique draw of a business that primarily creates "joy, happiness and magic for people all over the world." For Iger, this isn't just a job; it's an "addictive," "intoxicating" calling that provides a "powerful sense of purpose." In a world often fraught with complexity, he believes that "probably nothing is more important than what we do today is creating happiness," a sentiment that resonates deeply with the company's global impact.

Key Insights:

• Duty-Driven Return: Iger's return was driven by a sense of obligation and deep affection for a company he had served for decades.
• Purpose Beyond Position: The love for Disney stems from its core mission of "creating happiness and magic," which provides an intoxicating sense of purpose.
• Shared "Entertainer" Role: Iger drew parallels between his role at Disney and Wade's career in the NBA, both ultimately providing entertainment and joy to millions.

Forging a Path to the Top

Before reaching the pinnacle of Disney, Bob Iger's own journey to CEO was anything but straightforward. He shared with Dwyane Wade that while the board typically seeks advice from a successful CEO regarding succession, his path in 2005 was "arduous and challenging." The company had been through a tough period, and despite being an internal candidate, the board was "looking for different," putting him through an intense gauntlet of 15 interviews with board members and outside firms.

This rigorous process, though painful at the time, ultimately proved invaluable. "They really, you know, made me earn the job," Iger recalled, emphasizing that it forced him to articulate his vision for the company and tackle key issues head-on. The intense scrutiny, he admitted, "caused me to I think much think much more deeply about what I would do when or if I got the role." This experience highlights his philosophy of ambition: "never letting ambition get too far ahead of opportunity." Instead of aiming for the top from the outset, Iger focused on excelling in each role, from VP of Programming for ABC Sports to President of ABC, building confidence and leadership skills incrementally. Each step, he notes, "enabled me to gain more confidence… practice not only doing but practice leading."

Key Learnings:

• Rigorous Preparation: An "arduous" CEO selection process, though painful, forced deep introspection and strategic clarity, ultimately preparing him more thoroughly for the role.
• Incremental Ambition: Success came from focusing on the current role and allowing ambition to grow with opportunity, rather than chasing a distant title.
• Leadership Through Practice: Each leadership position served as a vital training ground, building confidence and refining skills over many years.

The Leader Within and Without

Dwyane Wade was keen to understand Bob Iger's leadership style, and the Disney CEO revealed a fascinating blend of qualities. Surprisingly, Iger identified as "more of an introvert than an extrovert," though his role constantly forces him into the public eye. He believes this introverted nature is an asset, fostering thoughtfulness and allowing him to "shut out the noise in the world sometimes" to make smart decisions. While protecting his time fiercely, Iger strives for accessibility, often walking around to be seen and touched by employees.

A cornerstone of his leadership philosophy is listening. "Being a leader is not always about telling people what to do," Iger asserted, "it's about hearing what other people think we should do or want to do." He emphasizes decisiveness, calculated risk-taking, and unwavering focus. Crucially, Iger also spoke to the importance of "authenticity," urging leaders to "be your true self who you really are and not trying to fake it." This authenticity extends to his private life, where he religiously carves out time each day for solitude. Rising at 4:30 AM for a workout, he finds "real clarity" in the quiet darkness, using this personal time to energize and organize his thoughts for the demanding day ahead.

Key Practices:

• Introverted Strength: Utilizing introverted tendencies for thoughtful decision-making and strategic clarity.
• Active Listening: Prioritizing understanding and incorporating diverse perspectives over simply issuing directives.
• Deliberate Solitude: Carving out consistent, dedicated time for personal reflection and mental preparation, like his 4:30 AM workouts.
• Authentic Leadership: Emphasizing genuineness and self-truth in all interactions and decisions.

Beyond the Boardroom: Family & Legacy

The conversation took a deeply personal turn as both Dwyane Wade and Bob Iger candidly discussed the universal challenge of balancing a demanding career with family life, particularly the "guilt" of missed moments. Iger openly shared regrets from his first marriage, admitting he "sacrificed a lot personally" and "missed a lot," carrying that guilt for years. This experience shaped his approach to his second marriage with Willow Bay and their two sons, consciously striving to be more present and emotionally available, "because frankly the guilt that I had... I carried through into my late in my years."

Iger lauded his wife, Willow, for her understanding and for having her own successful career, noting, "it takes a partnership." When discussing blended families, a reality for both men, Iger offered invaluable advice: "Being empathetic to all members of the family." He stressed the importance of acknowledging potential "disappointment" and "discomfort" from all parties, remembering that a new family member can feel like an "interloper" in the existing dynamic. This empathy, he suggested, is crucial for fostering acceptance. Finally, Iger reflected on his drive, the "fire" in his belly that comes from not wanting to replicate his father's unfulfilled life, aspiring instead to leave a legacy of love and high standards for his family, ensuring they not only appreciate his accomplishments but also the love he brought.

Key Insights:

• Confronting Guilt: Acknowledging and actively learning from past regrets about balancing career and family to shape future behavior.
• Partnership in Success: The vital role of an understanding and independent partner in navigating the demands of a high-profile career.
• Empathy in Blended Families: The critical importance of understanding and validating the diverse emotions and perspectives of all family members in complex family structures.

"[To thine own self be true]" - Bob Iger