The Shubert Organization: The Show Must Go On

In January 2009, Bob Wankel sat in his office at the historic Sardi's building on 44th Street, New York, as he considered the challenges ahead: several Broadway shows were closing, and a severe economic downturn threatened future productions. Many were calling for changes in the theater industry, and the Shubert Organization (where Mr. Wankel had worked for 33 years) had recently lost its Chairman, Gerald Schoenfeld. As the firm's new President and Co-chief executive officer, Mr. Wankel considered how he and newly named Chairman and Co-chief executive officer Phil Smith would navigate the firm through this turbulent time. Would they proceed in the same direction as their predecessor? What decisions would they need to make regarding the selection of shows, production, pricing, distribution and audience development?