Bob Iger Returns/Disney CEO Thread (2022)

[Nick]

Iger approached on Friday. Chapek not notified until just before public announcement last night.

Disney blindsided Chapek with CEO decision after reaching out to Iger on Friday

Disney's board reached out Bob Iger on Friday over concerns about the company's soft earnings report this month.

www.cnbc.com

 

[Jamesh22]

Bob wasn't the sole problem but he is a perfect example of someone failing upwards and it's fantastic news that he got canned - certainly deserved it.

Its the board I blame for all Disney's problems, they just don't appear fit for purpose. Extending Bob's contract was insane - none of the reasons they got rid of Bob just happened - if they had bothered to look they would have seen the company was already in a state.

 

[Cup_Of_Coffee]

Iger approached on Friday. Chapek not notified until just before public announcement last night.

Disney blindsided Chapek with CEO decision after reaching out to Iger on Friday

Disney's board reached out Bob Iger on Friday over concerns about the company's soft earnings report this month.

www.cnbc.com

I called it.

 

[krazyhorrorkid]

I have to just laugh.

This was probably the best way though to cast some damage control and make an attempt to bounce back.
Even though it’s a shorter term then usual, it should be interesting to see an actual attempt to make the current situations with the company better.

But actions speak louder than words in the big corporate city.

 

[Mad Dog]

Bob wasn't the sole problem but he is a perfect example of someone failing upwards and it's fantastic news that he got canned - certainly deserved it.

Its the board I blame for all Disney's problems, they just don't appear fit for purpose. Extending Bob's contract was insane - none of the reasons they got rid of Bob just happened - if they had bothered to look they would have seen the company was already in a state.

Chapek: Perfect example of the 'Peter Principle'.

 

[GAcoaster]

Not thrilled with Iger, but better than Chapek. I'm sure Iger will do exactly what he was brought back to do-- preserve shareholder value.

Chapek was a symptom of Disney's issues, not the cause, and he made them worse.

 

[JoeCamel]

Not thrilled with Iger, but better than Chapek. I'm sure Iger will do exactly what he was brought back to do-- preserve shareholder value.

Chapek was a symptom of Disney's issues, not the cause, and he made them worse.

I hope so I bought some

 

[fryoj]

If Iger was brought in because of investors being unhappy with profitability, that doesn't bode well for those complaining about the pricing or things being cut in the parks.

 

[salismetho]

If Iger was brought in because of investors being unhappy with profitability, that doesn't bode well for those complaining about the pricing or things being cut in the parks.

I don't think the parks are their primary concern

 

[Mad Dog]

Parks are doing fine. It's Disney + that's the Black Hole.....

 

[Tobias]

I don't think the parks are their primary concern

Parks are doing fine. It's Disney + that's the Black Hole.....

Same. It feels like the main issues stemming from the Earnings Report is Disney+ is still a money pit, now that might not necessarily be a massive issue if multiple divisions are at least keeping things afloat, but there lies the next issue...the Parks Division is pretty much carrying every other division at the moment. That's not a viable way of making money in the long run.

 

[fryoj]

I don't think the parks are their primary concern

I'm just saying, seeing people talking that this means things will improve in the parks, they may be disappointed.

 

[Tobias]

And Iger is clearly wasting no time, as Kareem Daniel is out. He was the chairmen of Disney Media & Entertainment Distribution, so not surprisingly Iger wants this reorganized.

 

[Nick]

It’s interesting going back to this article from December last year. It was an article of predictions for 2022 from top executives. Bob Iger replacing Chapek in 2022 was at the top of the list.

 

[quinnmac000]

Parks are doing fine. It's Disney + that's the Black Hole.....

US Parks sure but Shanghai is bleeding disney money even with their 25% ownership with it being closed almost every other week. Add in the starcruiser almost not being near full capacity and Disney practically giving away stays...its not all sunshine and rainbows.

 

[Nick]

US Parks sure but Shanghai is bleeding disney money even with their 25% ownership with it being closed almost every other week. Add in the starcruiser almost not being near full capacity and Disney practically giving away stays...its not all sunshine and rainbows.

I can verify that the Starcruiser is not filling up and they are resorting to bring in locals during dinner and other activities to give the appearance of it being more full than it actually is.

 

[Nico]

I can verify that the Starcruiser is not filling up and they are resorting to bring in locals during dinner and other activities to give the appearance of it being more full than it actually is.

Really?!

 

[Mad Dog]

US Parks sure but Shanghai is bleeding disney money even with their 25% ownership with it being closed almost every other week. Add in the starcruiser almost not being near full capacity and Disney practically giving away stays...its not all sunshine and rainbows.

International parks, except for the one's Disney has no ownership in (AKA Japan) have generally been a drag on the company. That will probably always be an issue. ( I was referring to US Parks doing fine. I probably should have
said that. International parks are often money pits)

 

[Nick]

Kareem Daniel is out too, who headed up the Chapek created Disney Media and Entertainment Distribution division, which took control away from creatives. He was a Chapek stooge. He also decided where content went and this is why animated content has largely been pushed to streaming under Chapek.

This will change how and where Disney releases content. I.e. some films that are Hulu or Disney+ original films may have been theatrical releases under Iger such as Prey, Pixar films, and films like Disenchanted or Hocus Pocus 2.

 

[Mad Dog]

Kareem Daniel is out too, who headed up the Chapek created Disney Media and Entertainment Distribution division, which took control away from creatives. He was a Chapek stooge. He also decided where content went and this is why animated content has largely been pushed to streaming under Chapek.

This will change how and where Disney releases content. I.e. some Fox films that are Hulu or Disney+ original films may have been theatrical releases under Iger such as Prey, Pixar films, and films like Disenchanted or Hocus Pocus 2.

Yes. Reports have continually surfaced that he was very much disliked within executive circles. He had a lot of say regarding budgets. Dislike is using a mild term from accounts I had read in the past year or two.