NOEL KING, HOST:
Before Bob Iger took over as CEO of The Walt Disney Company, Disney's stock value was stagnant. Its studios and networks and theme parks had lost their magic.
BOB IGER: We were embattled and somewhat discouraged and not as optimistic as we needed to be. And we needed to find our way.
KING: Iger talks about how he turned Disney around in his new book called "The Ride Of A Lifetime." NPR's Elizabeth Blair spent some time with him.
ELIZABETH BLAIR, BYLINE: Bob Iger worked his way up the entertainment ladder, starting with menial jobs on soap operas and game shows to running ABC Sports. As CEO of Disney, Iger oversaw the opening of the Disney theme park in China and championed blockbuster movies like "Black Panther."
(SOUNDBITE OF FILM, "BLACK PANTHER")
CHADWICK BOSEMAN: (As T'Challa) Wakanda forever.
UNIDENTIFIED ACTORS: (As characters) Wakanda forever.
BLAIR: Iger has also had some flops. When he was head of entertainment for ABC, he presided over a legendary failure - a musical starring police officers.
(SOUNDBITE OF TV SHOW, "COP ROCK")
MIKE FINNEGAN: (Singing, as Lieutenant Kellogg) Let's be careful out there.
BLAIR: "Cop Rock" was the brainchild of the late Steven Bochco, whose credits included "Hill Street Blues" and "NYPD Blue." In his book, Bob Iger writes he didn't regret trying "Cop Rock" because, quote, "if you want innovation, you need to give permission to fail."
IGER: When you take risks, you have to be willing to process failure because there is inevitable failure in creativity.
BLAIR: Iger believes in taking big swings. Before the "Cop Rock" fiasco, one of those swings knocked it out of the park - at least initially. Iger convinced his bosses at ABC to broadcast "Twin Peaks," a riveting but oddball murder mystery created by filmmaker David Lynch.
(SOUNDBITE OF ANGELO BADALAMENTI'S "'TWIN PEAKS' THEME")
IGER: "Twin Peaks" was, in a way, the "Game Of Thrones" of its time. You know, television was somewhat tame at that point still, and this was unlike anything that was on - extremely well-executed, a very compelling story.
BLAIR: And it gave Bob Iger huge cred in Hollywood's creative community. In his book, he writes that suddenly he was getting calls from major movie directors Steven Spielberg and George Lucas wanting to know what they might do for ABC. The first season of "Twin Peaks" was a sensation, but it could not sustain. And here's where Bob Iger learned a lot about working with artists. David Lynch was known for offbeat films, not a TV series that needed to deliver new plot twists each week. Iger says Lynch didn't want to answer the central question to the "Twin Peaks" mystery, who killed Laura Palmer?
IGER: David was arguing that if he solved the murder, no one would want to come back. That would be it. And I argued the opposite. And ultimately, I prevailed. It was not easy. And the series failed. And looking back, I'm sorry that I pushed it that far with David. Although, I will say, even though I have incredible respect for David, one of the problems with the series was there wasn't much else to it, from a story perspective. I didn't understand that as much then.
BLAIR: Managing the creative process, Iger says, requires both empathy and resilience. To turn Disney around, Iger set about acquiring other companies, starting with Pixar, the studio behind animated classics "Toy Story" and "The Incredibles."
(SOUNDBITE OF FILM, "THE INCREDIBLES")
SAMUEL L JACKSON: (As Lucius Best) Where is my super suit?
KIMBERLY ADAIR CLARK: (As Honey Best) I put it away.
BLAIR: Iger struck deals to acquire Marvel, Lucasfilm and, most recently, 21st Century Fox. He says, when acquiring a company, he tries to keep its culture intact.
IGER: There's a culture and a way of life at the company that you've bought that sometimes can be integral to the creative process or the process of creating product at that company. And if you go about it in too heavy-handed a way, you can destroy spirit and culture and a sense of purpose and, in doing so, destroy the very essence of what you bought or reduce value.
BLAIR: As CEO, Bob Iger turned Disney into one of the largest entertainment companies in the world. But he was not a shoo-in for the job - far from it. In 2005, Disney was in terrible shape, and at the time, he was then-CEO Michael Eisner's No. 2. Iger says, to get the job, he worked on winning over members of the Disney board, the shareholders and, most importantly, he says, the people he would lead. Jennifer Lee, who recently became chief creative officer of Walt Disney Animation Studios, says Iger leads with trust.
JENNIFER LEE: He has all the faith in us being grounded when we need to be grounded. But he does know that, you know, that to move forward you have to be able to be bold.
BLAIR: But Iger is not without criticism. Disney has some 200,000 employees, and how those at the low end of the pay scale are treated has come under attack. Disney heiress Abigail Disney has decried the enormous wage gap between workers at Disney theme parks, who make less than $20 an hour, and its executives, whose salaries are in the multimillions. In response, The Walt Disney Company points to its program for hourly employees that pays 100% of the cost of vocational training or a college degree. Iger recalls that when he was fighting for the job of CEO, he knew it was vital to have the support of the people inside Disney.
IGER: It starts with the people who work at the company. You're not going to be admired on the outside unless you're admired on the inside.
BLAIR: The Magic Kingdom Bob Iger has overseen for the last 15 years includes theme parks around the world, movies, TV shows, cable channels. In his book, he writes about where his personal ambition comes from. He grew up in a mostly working-class town on Long Island. His father, a World War II veteran, had trouble keeping a steady job. He'd been diagnosed with manic depression. Iger says he grew up watching his dad feel like a failure.
IGER: Even though I reminded him a number of times that he should be looking at accomplishment in a different way - he had raised two kids. I have a younger sister. And I thought that was an accomplishment in itself. But seeing his disappointment with himself, which was something that not only created a dissatisfaction, but an anger really, at himself, I really promised myself that I would not be him in that regard.
BLAIR: In Iger's new book, optimism is at the top of his list of principles necessary for true leadership. Elizabeth Blair, NPR News.
(SOUNDBITE OF SONG, "WHEN YOU WISH UPON A STAR [FROM "PINOCCHIO"]")
CLIFF EDWARDS: (Singing, as Jiminy Cricket) When you wish upon a star...
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