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Business

“Immense value in being together”




Disney ( DIS ) CEO Bob Iger is back — and so are the company’s office demands.

According to an internal memo obtained by Yahoo Finance, Iger told Disney’s hybrid employees that they will be required to be in an office at least four days a week starting March 1. Monday through Thursday will be the preference for personal work days.

CNBC first reported the circulation of Iger’s memo.

“As I’ve met with teams across the company over the past few months, I’ve been reminded of the enormous value of being with the people you work with,” Iger wrote.

“As you̵[ads1]7;ve heard me say many times, creativity is the heart and soul of who we are and what we do at Disney. And in a creative business like ours, nothing can replace the ability to connect, observe and create with peers that comes from being physically together, nor the opportunity to grow professionally by learning from leaders and mentors,” the memo continued. “It is my belief that working together more personally will benefit the company’s creativity, culture and our employees’ careers. “

Iger, who will face several strategic questions regarding the business in the new year, has emphasized the importance of culture and creativity since stepping back as CEO in November.

The executive has been quick to undo elements of his predecessor’s strategy, including firing Kareem Daniel and restructuring Disney’s Media and Entertainment Distribution (DMED) division – one of former CEO Bob Chapek’s first major swings.

Iger also reportedly expressed concern about Chapek’s unfavorable price increases at the company’s theme parks. While Iger is unlikely to reverse the price increases in the new year, Disney fans could possibly see a reduction in the number of increases in 2023.

Other high-profile executives such as Tesla and Twitter CEO Elon Musk, Apple CEO Tim Cook and JPMorgan CEO Jamie Dimon have also expressed their preference for in-office attendance versus hybrid and remote work.

“Immense value in being together”

Walt Disney Company Chairman Bob Iger arrives at the world premiere of the film ‘The King’s Man’ at Leicester Square in London, Britain December 6, 2021. REUTERS/Hannah McKay

Alexandra is a senior entertainment and media reporter at Yahoo Finance. Follow her on Twitter @alliecanal8193 and email her at alexandra.canal@yahoofinance.com

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