'Blame Your Predecessor'

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Letter to Editor: 'Blame Your Predecessor' and Other Lessons

AG Lafley's op-ed "A Two-Time CEP's Advice to Disney's Bob Iger" (Dec 1) reminds ,e of the joke about the departing chief executive and the three envelopes.

A departing CEO met with his successor, presented him with three numbered envelopes and advised him to open these if he ran into trouble. After sales and profits dropped during the next quarter, the new CEO opened the first envelope. It contained the message: "Blame your predecessor."

The company continued to struggle during the next two quarters, so the new CEO opened the second envelope. It contained the message: "Distract your critics by reorganizing."

Finally, because the company's year-end results were still disappointing, the new CEO rushed to his office and opened the third envelope. It contained the message: "Prepare three envelopes."

I hope Disney's Mr Iger doesn't have to prepare envelopes of his own.

Wall Street Journal, Dec 6, 2022, at page A20.
https://www.wsj.com/articles/dis ... lessons-11670008715