Not only did CEO Bob Iger bring exciting news about Frozen 2, Star Wars: Episode VIII and the first Star Wars spinoff Rogue One to his annual shareholders meeting this morning. He also announced a new Disney policy that bans smoking in all movies aimed at kids, unless the film needs to be historically accurate. He declared that the act will be 'absolutely prohibited' when asked by an investor. About the decision, Bob Iger said:
"I thought it was the right thing for us to do."
Apparently, this decision was made just 48 hours before the shareholders meeting took place. While Disney is taking this stand, the CEO said he wouldn't lobby the MPAA to make the same regulation for R-rated films. As he explains:
"We don't get involved in how MPAA applies ratings to films....Nor do we try to influence the policies of the other studios we compete with."
Later on during his Q&A session, Bob Iger refused to take a stance on the FCC's decision to imply strong net neutrality regulations. He did acknowledge that it was a 'hot button issue'. But he says it "will not have a material impact on the future of this company." As of now, Disney shares are at a 52-week high, and the meeting arrived at a time when shareholders are supportive of management on certain controversial governance issues. Iger was asked by a child towards the end of the meeting what advice he's give to someone who wants to become a CEO. His response:
"Have patience, work hard, enjoy what you do...and just go for it."