Tis the season of gratitude, you know, and I wanted to take a minute to thank our marketplace

investors. That is a community of listeners who've gone above and beyond to support our work

and to ensure that trustworthy news and information is available to all. And in a year like this one,

that means a lot. Each and every investor matters and makes a real difference here at marketplace.

So on behalf of all of us, thank you.

Okay, so just maybe Disney is not the happiest place on earth from American public media.

This is Marketplace.

In Los Angeles, I'm Kyle Rizdole. It is Monday to day 21. November good as always to have you

along, everybody. So Bob Eiger was the CEO of the Walt Disney company for 15 years. And for most

of that time, he didn't really put a foot wrong. He was politically astute in that corporate way.

He made investors a ton of money. And in the process, he built an empire buying Pixar and Lucas

films and Marvel as well. The blemish on that record though is succession planning. Disney's

board yesterday dismissed Eiger's hand pick successor, Bob Chaypeck is his name and asked Eiger to come

back and write the ship. Chaypeck's two or so years as CEO or marked by the pandemic. Yes. And

some political missteps and it can't not to be said, the billion and a half dollar loss in Disney's

streaming service. The Chaypeck announced the other day. So enter now again, Bob Eiger on a two-year

contract, which means really his succession planning starts now. Marketplaces, Kristen Schwab looks

at what it means to start all over again. A company's hunt for its next CEO never ends says Jan

Cores with the consulting firm Pearl Meyer. A number of CEOs tell me that when they get promoted

into that CEO role, one of the first questions their board has for them is, okay, who's going to

be your replacement? That's because it takes years to identify outside talent or groom someone from

within. In fact, around three quarters of CEOs at companies on the S&P 500 are internal promotions.

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