Ex-Medtronic Chairman Says He's 'Perplexed' By Disney

Earlier this week, Walt Disney Co (NYSE: DIS) announced the imminent departure of COO Thomas Staggs.

The press release read, "With approximately two years left before Mr. (Bob) Iger steps down as Chairman and Chief Executive Officer, Disney's Board of Directors will broaden the scope of its succession planning process to identify and evaluate a robust slate of candidates for consideration."

Staggs was quoted within the release as having said, "Disney truly stands alone, not only because of the Company's phenomenal creativity, but also because of the thousands of remarkable people who make it such an extraordinary place. It's been a privilege to work with them and be inspired by their creativity and commitment. It's also been a great experience to work with Bob during this dynamic era of unprecedented growth and transformation. I remain grateful for that opportunity, and I'm confident that Disney's future will be just as exciting as its legendary past."

However, many experts' responses to the news have been a combination of confusion and surprise, with research firms like Nomura stating that the move was "unexpected."

CNBC Contributor, ‘I'm Perplexed'

Senior Fellow at Harvard Business School, former Medtronic PLC (NYSE: MDT) chairman and CNBC contributor Bill George took to CNBC to discuss the "shakeup."

The conversation opened with talk about how it was assumed by many that Iger had hand chosen Staggs as his successor. George commented, "That's a really good question."

"This is quite surprising to me. Clearly they (the board) signaled Staggs as the successor— and this is a strong board, this is not a weak board. They have very calipered people on this board. And I suspect some of the members on the board said, ‘We'd like to look outside for a more product-oriented person, more creative person.'"

When asked to comment on how much Disney has changed under Iger and subsequently how the apparent decision to overlook Iger's wishes comes across, George replied, "I think Staggs was so carefully positioned, that's why it's a surprise to me why the board wants to go and look outside. And, frankly, I'm quite surprised by it."

"I think it's actually a loss," George concluded somberly.