News Chapek FIRED, Iger New CEO

captainbuzzy

captainbuzzy

Active Member
WDW Pro said:
I would say this is "not good". I've reached out to any and all contacts I have with insight on this, but only one response... apparently there's more to the story, so just stick around and enjoy the popcorn. Iger is a genius CEO, even if you disagree with some of his stances. Chapek is... yikes.

Just to let you know, there IS a political component to this.
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Timing is interesting given the current Democratic Presidential slate. I'm spitballing here but my gut tells me that Bloomberg tapped him to run his campaign and be his VP if nominated.
 
el_super

el_super

Well-Known Member
IanDLBZF said:
I think you may be right. There may have been some sort of "closed door" impeachment case against Iger. And this coming JUST weeks before their shareholders meeting.
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Weird take. Iger announced his retirement about 6 years ago. His contract was extended in 2014 and 2016. Additionally he was WELL aware of the succession issues raised when Eisner was voted out. He attempted to step aside already and Wall Street and the BoD hated the idea. He's tried to elevate another Parks and Resorts guy to CEO as well. There's no real reason to think this was a spur of the moment decision as it completely fits his M.O. and the timing was way past due.

Lilofan said:
A CEO reporting to someone. Any incoming CEO would not agree to this except Chapek.
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In most companies, the CEO reports to the board of directors. The board in turn are elected by the shareholders. It's not unusual at all for the CEO to be replaced and eventually nominated/elected to the board. In fact, I think this happened with Eisner/Iger before.

seascape said:
We also need to pray that the Coronavirus is only a blip and that a cure is found. If it is worse than that, it doesn't matter who is running the company because themeparks and movie theaters will be killed.
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Seriously... LOL at the people that think Chapek will be the fall guy for Corona Virus because if it gets that bad, the VIRUS will be blamed, not Chapek.
 
bartholomr4

bartholomr4

Well-Known Member
seascape said:
We can all disagree on the decision to make Bob Chapek CEO. I don't know what to think right now. However, I do think the timing makes sense. Bob Iger was going to retire in a little over a year. Having indecision over who will take over is not in anyone's interest. As for the streaming services and their further, they are well setup and will be profitable much sooner than was previously predicted. The next quarterly conference call is in May, well over a month after Disney Plus launches in Europe and India. On that call, Disney will be able to provide an update on when Disney Plus will become profitable. It will also be 2 months after FX in Hulu launches, so the streaming services should be well set. Iger wants to leave on top and he has accomplished what he wanted.

Going forward. we have to hope that Disney Plus and Hulu are as successful as Iger thinks they will be. We also need to pray that the Coronavirus is only a blip and that a cure is found. If it is worse than that, it doesn't matter who is running the company because themeparks and movie theaters will be killed. Disney will survive with its streaming services and cable channels because people will stay home for their entertainment but all themeparks will be killed because no one will travel to Orlando or to regional parks.
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I just listened to the analyst call.... I think the timing of this announcement is related to the Coronoviris and the time the outbreak was going to take away from Iger and what he really wants to do.... Chapek is the guy to manage the efforts around mitigating the impact of the virus. Iger is 70 years old and doesn’t want to manage the issue.... With shanghai and Hong Kong closed for 2 months and maybe another month, there is work to do, and Iger doesn’t want it to get in the way or distract his attention from what he sees as his last task, and that is to set a long term strategy on the creative side of the house.... To your point, this gives Chapek 22 months to fish or cut bait..... And his first decision is to announce who will be his replacement, and who to bring in to help him with the Creative after Iger retires..... It will be interesting to see if Meyer or other Senior leaders move on.... the key leaders are knee deep in Creative and still working with Iger...... Also, will Chapek be able to attract big name talent to his team.....This is going to be interesting to watch as usual....
 
S

Serpico Jones

Well-Known Member
First post! I don’t think Iger wants to stay on now that all of his big franchises have wrapped up. Avengers Endgame signaled the end of an era as did the absolutely awful Rise of Skywalker. Will people still care about Marvel without Downey and Chris Evans? Who cares about Star Wars anymore in general? Iger doesn’t want to be a part of the rebuilding of those franchises.
 
George

George

Liker of Things
Premium Member
Kram Sacul

Kram Sacul

Well-Known Member
In the Parks
Yes
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