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This is the first we have heard about what Bob Chapek thought about his tenure as CEO since he was fired last year.
Bob Chapek’s Swift 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 was 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.
Shortly after renewing Chapek’s contract, the Disney Board replaced Bob Chapek with his predecessor Bob Iger. The world was shocked, and by the morning after Bob Iger’s return, Disney stocks were already on the rise.
The very quick timeline was a bit surprising for Disney fans, but a poor quarterly earnings report was the final straw and forced the board to replace Chapek. Part of this poor earnings was tied to Disney+ which led to the quick firing of another Disney executive less than 24 hours after Bob Iger’s return.
Public and Private Statements
According to a CNBC article, Chapek confided to a friend that his tenure at Disney was “about three years of hell,” defined by one overriding theme: his unrelenting fear that Iger wanted his job back.
On the other hand, Iger told friends and colleagues he came back as CEO to fix one of the biggest mistakes of his career: choosing Chapek as his successor.
Through a representative, Chapek defended his record as Disney CEO in a statement to CNBC.
“Bob is proud of the work he did in the course of his 30-year career at Disney, particularly during his nearly three-year run as CEO, steering the company through the unprecedented challenges of the pandemic, and setting the course for business transformation as he and his team took the disruptive yet necessary steps for business revitalization and long-term growth,” said the spokesperson.
“Bob is proud of the work he did in the course of his 30-year career at Disney, particularly during his nearly three-year run as CEO.”
What do you think of his statements? Let us know in the comments below and share this post with a friend.
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Marcy
Wednesday 6th of September 2023
I totally agree with you. Iger started the company on the path of its woke ideas. Also he said Chapek was making Disney more expensive such as ticket prices but I didn’t see him rolling anything back. Find us a great new CEO!
Disney Boy
Wednesday 6th of September 2023
Hey Iger did a good job himself I mean he did save the company once.
JW
Wednesday 6th of September 2023
The Disney Corporation needs to do something asap. They are destroying their reputation and alienating their customer base. Definitely not the company it once was just a few short years ago.
RandyC
Wednesday 6th of September 2023
Chapek did about as well as anyone could have in leading Disney through the pandemic and lockdown. I think many of the unpopular things Chapek initiated were ideas originally hatched when Iger was CEO and became ready for implementation under Chapek. Chapek's initial instincts on Florida's Parental Rights in Education bill were 100% correct; stay quiet. Chapek erred when he caved to internal Disney pressure, including pressure from Iger, to make a public statement, which backfired. Iger is slick and crafty. He has been successful, up until now, in pinning the blame on Disney's challenges, including Iger's dumb ideas when CEO the first time, on Chapek. I now see that Chapek served as Iger's whipping boy. It's time to get rid of Iger and find a competent, visionary and creative CEO for Disney.