Bob Iger Returns/Disney CEO Thread (2022)

[salismetho]

Thought this deserved its own thread. Insane

 

[AlexanderMBush]

Jesus Christ this is a moment to process.

 

[HandsomePete]

Whoa......... fired on a Sunday night.


opcorn:

 

[Disneyhead]

What?

Checking calender, "is it April 1st already?"

 

[AlexanderMBush]

 

[belloq87]

Chapek's out?!

Wait, Iger's back?

 

[PerceptiveCoot]

My reaction:

and

 

[Freak]

Yeah not the biggest fan of Iger but at least the dude gave two craps about the theme parks! Adios Bob Paycheck! Don’t let the door hit you on the way out!

 

[PerceptiveCoot]

Sorry for double post. I have to imagine something more must be wrong than the stock prices, especially after Chapek's re-up a few months ago.

 

[Doug A.]

I think this sums up everyone’s reactions quite nicely. Never thought I would see the day (at least so soon)

 

[belloq87]

Yeah not the biggest fan of Iger but at least the dude gave two craps about the theme parks!

Anywhere else but Florida, maybe.

Let's not forget that under his tenure, a great deal of the decade from 2007 - 2016 was wasted spending multiple billions on wristbands and Fastpass+ at WDW instead of new attractions.

 

[pumpkinbot343]

So from what I gather from all I’ve heard; from an creatively and morally bankrupt incompetent executive we go back to a creatively and morally bankrupt but competent executive? Not exactly a win-win.

 

[Magic-Man]

I was not expecting this. What on earth.

 

[OrlLover]

Jesus Christ this is a moment to process.

Let me tell you I’m shocked and confused and don’t know what to say.

What?

Checking calender, "is it April 1st already?"

Yea I had to do a double take at my calendar to make sure it wasn’t April.

 

[Tobias]

Wow, just. WOW.

Definitely didn't see this coming, and I don't think Chapek did, either.

Looking at the press release, with a mandate from the board, Iger is in an interim position for two-years to find his successor. Considering Chapek was given an extension earlier this year, things must've gone south real fast, and the board didn't like where it was heading. The stock taking quite a hit after the earnings report probably didn't help, either.

Nonetheless, this is one heck of a way to end the week, huh?

 

[Nick]

Never believed they'd actually get rid of this little demon, but thank goodness.

Whoa......... fired on a Sunday night.

Disney was increasingly at major risk for hostile takeover and not only will this move jumpstart their stock tomorrow morning, and if there's anyone who knows how to smooth talk wall street and constantly bring in good results quarter after quarter, it's Bob Iger.

Wall Street will absolutely LOVE this move.

 

[queenmetroid]

So from what I gather from all I’ve heard; from an creatively and morally bankrupt incompetent executive we go back to a creatively and morally bankrupt but competent executive? Not exactly a win-win.

Yeah, I don't disagree with you. I meet this announcement with no real joy. It's not like cast member wages will go up, the boulder at Indiana Jones is going to be fixed, or the theme park prices are going to be lowered.

I think there's something else at work here because this reeks of scandal or getting ahead of something.

 

[MrBlonde]

Never believed they'd actually get rid of this little demon, but thank goodness.


Disney was increasingly at major risk for hostile takeover and not only will this move jumpstart their stock tomorrow morning, and if there's anyone who knows how to smooth talk wall street and constantly bring in good results quarter after quarter, it's Bob Iger.

Wall Street will absolutely LOVE this move.

While the pullback in the stock did make it a more attractive acquistion target, there's only so many companies big enough to handle the debt load needed to buy the company, and in a raising rate market, the cost of carrying the debt is even worse right now. Outside of an Apple-sized company, I don't see many strong enough to do that battle. I'm not sure what company I'd feel comfortable buying it in the market given how consolidated it is these days.

Also, picking up your comment in the other thread, 100% the successor was his biggest misstep. I think too much was riding on the stock price in his final contract and he wanted to lock in his value before covid shutdowns began. This is now an opportunity to groom a new person to come in who can have a vision beyond numbers going up.

 

[Nick]

As for what this means for the parks, i'm not sure how much will change, but if anything changes, PLEASE get rid of the stupid reservation system.

 

[rageofthegods]

Posting this from the other thread:

Hilarious that they're doing this the Sunday night before Thanksgiving.

I honestly wonder if this is a mistake by Iger, though. Chapek was a bad CEO but many of his biggest challenges were outside of his control and some of his more unpopular decisions - streaming price raises chief among them - were probably gonna have to happen at some point.

Iger left having completely secured his legacy as a nice guy visionary who turned Disney into one of the most powerful companies on Earth. Now he'll have to figure out how to make money from streaming and keep the company afloat at a time when interest rates are high and cable TV is finally dying. Never count out Iger but I don't really see how you do that without pissing some people off.

Anyway, successor. Wonder if Peter Rice, who hasn't taken a new job since his ouster, was holding out for something like this to happen.