When Walt Disney died, he left a loosely organized empire. The three men who took over tightened up management without damaging creative flair. And Disney has prospered.
When Walt Disney died, in W 1966, the business world buzzed with rumours that Walt Disney Productions could not survive the sudden vacuum at the top. The complex projects left partially finished might pull the company apart before its management could readjust. The marketing magic of the Disney name would disappear. One financial writer compared Disney Productions without Walt to ‘a fine car without an engine'.
Within the company, executive hearts sank as they faced the task of filling the gap left in an organization which had grown up under the overriding control of a pervasive force and personality.
Yet three years later, Disney Productions could point to total sales of $148,4 million, up from $116,5 million in the year of Walt's death; and net income had increased 27%.
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