Very quick timeline for bringing back Bob Iger

Last night we were shocked when Bob Chapek was removed as Disney CEO. Check out the timeline of how this huge shakeup unfolded.

Bob Chapek’s Exit

When Bob Iger retired in February 2020, Bob Chapek took his place as CEO of The Walt Disney Company. He took charge right before the parks closed in March 2020. Chapek has been in charge for over two years, overseeing the parks, entertainment, and more. During this time, many guests and Cast Members questioned the direction in which he led the Walt Disney Company.

After recently renewing Chapek’s contract to end in 2025, the Disney Board replaced Bob Chapek as CEO and will replace him with his predecessor Bob Iger for two years. This morning, Disney stocks are on the rise and news emerged of Chapek’s potential exit pay with The Walt Disney Company.

Reinstating Bob Iger

The choice to remove Bob Chapek as Disney CEO was based upon poor fiscal fourth-quarter earnings that were shared earlier this month (according to CNBC). On Friday, November 18th, the Disney Board reached out to Bob Iger and he agreed to return to his previous position as CEO for two years.

On Friday, November 18th, the Disney Board reached out to Bob Iger and he agreed to return to his previous position as CEO for two years.

According to CNBC, “some internal candidates were identified that might be able to take the job over time, but the board didn’t want to put someone new in that position given all previous pressures on the company.” You can check out our thoughts for the next possible Disney CEO HERE.

Last night, Sunday, November 20th, Disney announced that Bob Iger will replace by Bob Chapek immediately. Although this news was shocking late on a Sunday evening, it had been days in the making. According to CNBC, Chapek learned of this news at the same time as Disney’s announcement.

It will be interesting to see the new direction that is made for tThe Walt Disney Company with this new change.

What do you think of this timeline? Do you think Bob Iger is the CEO that Disney needs right now? What big changes do you think he will make first? Share your thoughts with us on our Facebook Page.

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