‘Tremendous value in being together’

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

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

CNBC first reported the circulation of Iger’s memo.

“As I’ve been meeting with teams throughout the Company over the past few months, I’ve been reminded of the tremendous value in being together with the people you work with,” Iger wrote.

“As you’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 in-person 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 stressed the importance of culture and creativity since stepping back into the CEO role 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 big swings.

Iger has also reportedly expressed concerns regarding Chapek’s unfavorable price hikes at the company’s theme parks. Although unlikely Iger will reverse the price hikes in the new year, Disney fans could possibly see a reduction in the number of increases in 2023.

Other high-profile executives like 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.

Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for 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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