In 2005, when Bob Iger was chosen as the next CEO of The Walt Disney Company, there were other contenders for the role. While Iger quickly emerged as the board’s top choice, what if that never happened? Would Disney parks have seen the same price hikes and entertainment cutbacks? Would the company have aggressively expanded into streaming or acquired some of the biggest entertainment franchises in history?
As much as some fans criticize Iger for the current state of Disney, there’s reason to believe that without him, things could have been far worse.
Who Would Have Taken Over?
If Iger hadn’t been selected, the most likely alternative was Peter Murphy, Disney’s Chief Strategic Officer at the time and a close ally of then-CEO Michael Eisner. However, Roy E. Disney and Stanley Gold, who led the campaign to push Eisner out, were firmly against Murphy’s promotion. They saw him as an extension of Eisner’s leadership—too focused on corporate strategy and financial control rather than creativity and growth. If Iger hadn’t been available, though, Murphy likely would have filled the void.
A More Cost-Cutting, Risk-Averse Disney
First and foremost, this is purely speculative and based on interpretation. A person’s leadership as CEO of a company as large as Disney isn’t always predictable based solely on their past actions or decisions. That being said, Murphy’s leadership would have likely resulted in a Disney that prioritized financial caution over bold investments. The aggressive acquisitions that defined Iger’s early tenure—Pixar, Marvel, and Lucasfilm—might never have happened, leaving Disney without the franchises that now define its entertainment empire. Without Pixar, Disney Animation may have continued to struggle, competing against Pixar, and without Marvel and Star Wars, those billion-dollar franchises would have been built by another studio.
The cost-cutting measures that fans now associate with modern Disney—higher park prices, the elimination of entertainment offerings, and upcharges for experiences that were once free—could have started much earlier. Murphy’s focus on financial discipline might have meant fewer large-scale theme park expansions, with smaller, safer updates taking their place. Digital innovation could have been slower as well, potentially delaying Disney’s entry into streaming and weakening its position in today’s media landscape.
Would It Have Been Better or Worse?
Iger’s leadership hasn’t been perfect, but without him, Disney could have been a far less ambitious company. Instead of a creative powerhouse with industry-defining acquisitions, it might have become a more risk-averse, financially cautious corporation that played it safe at the expense of innovation. While fans may not love every decision Iger has made, the alternative could have been a Disney that lacked the scale, influence, and creative power it has today.
With Iger now back as CEO, the company faces new challenges. But looking back, his leadership—flaws and all—helped shape Disney into the entertainment giant it is now. If Murphy had taken over instead, we might be looking at a very different, and potentially less magical, Disney today. Does this mean Bob Iger was the only right choice for Disney? Not necessarily—he’s made his share of mistakes. However, this serves as a reminder that while Disney faces challenges today, a different leadership path might have led to even greater struggles.
