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If you were not a fan of Chapek’s speeches, then you may approve of the latest shakeup at Walt Disney Company.
Chapek is Out
After recently renewing Chapek’s contract to end in 2025, the Disney Board fired Bob Chapek as CEO and replaced him with his predecessor Bob Iger. Then, Iger agreed to hold this position for the next 2 years. After this change, Disney stock prices rose.
However, Chapek wasn’t left empty handed. Based on calculations, Bob Chapek is expected to leave the company with $23M. Bob Chapek’s departure happened quickly. Check out full details HERE. However, the rebellion began in the summer of 2022 and was led by executives loyal to former CEO Bob Iger.
The recent poor quarterly earnings report was the final straw and forced the board to replace Chapek. Part of the poor quarter earnings was tied to Disney+ which led to the first firing.
First Executive Let Go
In 2021, Bob Chapek hired Kareem Daniel as the Chairman of Disney Media and Entertainment Distribution. With Disney’s shift toward streaming services like Disney+, the company made dramatic changes in the leadership style and structure.
The restructuring took power away from executives who oversee the production of Disney content in favor of those who distribute it.
Then, less than 24 hours after the “Changing of the Bobs” (from Bob Chapek to now Bob Iger), Daniel was let go from his position. This wasn’t a surprising decision since Kareem was close to Chapek and was responsible for the changes at Disney+.
Latest Executive to be Fired
The next executive fired wrote Chapek’s remarks on Disney’s third-quarter earnings call. Bochner served as Chapek’s chief of staff until last August. After that, he moved to the position of Vice President of Strategic Communications.
Arthur Bochner, Vice President of Strategic Communications, was let go.
Since Bochner was the chief speechwriter of former Disney CEO Bob Chapek’s announcements and speeches, it makes sense that they would let him go.
What do you think of this latest change? Please let us know in the comments below and on Facebook.
Source: Variety.com
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Jessi
Friday 9th of December 2022
Very well said! Adults always hate when kids whine and complain. These same adults also believe their own whining and complaining is profound and something that others want to hear. (It's not lol)
Jesse
Monday 28th of November 2022
These comments are no different than an election run off. No matter what Disney does your going to have people hating them and people loving them. It gives people something to complain about. Americans LOVE to complain and be unsatisfied! Yes I for one am glad Bob Iger is back. Do I think sweeping changes are coming because he is back? Ahh who knows? But do I think the disposition of the company will improve? Yeah I do. Disney is a for profit, so they need to make money. How they go about making that money is at their discretion. Our family will still remain Passholders, we will still remain fans, and we’ll still spend money at the parks. Why? Because we CHOOSE to,, just like everyone of you all. People if you don’t want to go to Disney because it’s to expensive, then it’s real simple, DON’T GO. But if you have budgeted for a trip to Disney, we’ll then enjoy yourselves! Someone had a great idea, take a tropical trip to the Caribbean, explore this beautiful country we live in. Same price for a four day trip to Disney! Either way, remember a vacation is a time to be with family, friends and have fun. NO COMPLAINERS ON VACATIONS.
Joe giambalvo
Monday 28th of November 2022
I am somewhat relived by this change but until I see some old school things brought back in place I won’t be going back I have not felt that magical feeling in disney for years that warm feeling of being a child the greeting by the employees is even so not a good Feel everyone seems uptite Walt laid this out for us can we just respect him and take care of the family who visits please so we can have pleasant memories for years to come I am 53 and I’m in tears just wrighting this that’s how much Disney means to me and my entire family
Dave Weikel
Sunday 27th of November 2022
I completely agree. Until more executives are replaced Disney will suffer long term. Even faithful pass holders wont support any more tragedy.
Sandra Tampkin
Sunday 27th of November 2022
Walt Disney is rolling over in his ice grave. He built this for family and children and now it’s so unaffordable families can’t go!!!!!Replace them All!!!