News Chapek FIRED, Iger New CEO

[Flynnwriter]

Bob Chapek has no taste or true understanding of what makes Disney “Disney.” He may understand how all the segments are related, how the budgets can be tightened, but he has no idea why, for example, a story is the starting point and guide for retail, hotels, parks and restaurants. Just look at recent Disney World fails: World of Disney, Grand Floridian changes, Coronado Tower, Yacht and Beach Club changes, and park retail overall - they all reflect a simplification and mediocracy of someone inspired by “the norm” “the expected” and “the outside.” “Aim for the middle and deliver it”, would be his motto. Slowly by slowly, piece by piece, Disney World is looking like every other place - this is the troubling aspect of Bob Chapek as CEO.

 

[el_super]

Bob Chapek has no taste or true understanding of what makes Disney “Disney.”

Just curious: did you think Bob Iger understood it?

Slowly by slowly, piece by piece, Disney World is looking like every other place - this is the troubling aspect of Bob Chapek as CEO.

Different strokes for different folks. Modernization is needed to keep the property looking fresh and interesting for future visitors that wouldn't lean so heavily on nostalgia. I hate the way the new World of Disney looks, because I liked the old one, but I see why they did it (to make it look fresh). Merchandise has always catered moreso to the "current year on a sweatshirt" crowd, because thats where the demand is. And I liked the new tower at Coronado because it did break the mold for how a WDW resort should look.

People have different desires and different tastes so there isnt just one vision of Disney for a CEO to "understand" or not.

 

[Lilofan]

That's not how it works.

Mass cuts in the parks would have definitely been made by someone in Chapek’s former position, of which he was in when the cuts were made. I’m not trying to slam him, but there’s no reason to drag D’Amaro into the dirt.

People will always look to see who is currently in charge running the show when company restructuring happens.

 

[Brer Oswald]

People will always look to see who is currently in charge running the show when company restructuring happens.

 

[Lilofan]

Bob Chapek has no taste or true understanding of what makes Disney “Disney.” He may understand how all the segments are related, how the budgets can be tightened, but he has no idea why, for example, a story is the starting point and guide for retail, hotels, parks and restaurants. Just look at recent Disney World fails: World of Disney, Grand Floridian changes, Coronado Tower, Yacht and Beach Club changes, and park retail overall - they all reflect a simplification and mediocracy of someone inspired by “the norm” “the expected” and “the outside.” “Aim for the middle and deliver it”, would be his motto. Slowly by slowly, piece by piece, Disney World is looking like every other place - this is the troubling aspect of Bob Chapek as CEO.

They generally do not have that expertise. If they want to be well compensated and still be employed, their primary task is to increase the stock price and wealth of the company stockholders.

 

[Josh Hendy]

They generally do not have that expertise. If they want to be well compensated and still be employed, their primary task is to increase the stock price and wealth of the company stockholders.

And on a pretty short timeframe too.

 

[Lilofan]

And on a pretty short timeframe too.

Yes, Chapek is on a 3 year CEO contract if he lasts that long.

 

[flynnibus]

Nope. The international parks, because they are jointly owned by other outside companies, are reported separately from the DPEP domestic product. Disney has already called out that they are going to lose money because of the closures. They cant hide or make up those losses by making the rest of the division pick up the slack. That's not how it works.

It is how it works... because while its reported as a breakout... the larger business unit and twdc itself do not want to post those same misses all the way up the chain.

if they have a 200mil shortfall in china, they will still work hard across the business to make up for that. even fromdifferent PnLs because they all report to the mothership

 

[THEMEPARKPIONEER]

Iger wanted to step down to focus more on the creative pipeline in the Disney Company. It makes me wonder if he isn’t happy with the changes in and coming to the parks. It makes me wonder if he really does have a vision for the Disney company more than just money. I wouldn’t want to be in his shoes if I had the job to overcapitalize and destroy the soul of the Disney Company and Chapek is perfect for that.

 

[lazyboy97o]

Iger wanted to step down to focus more on the creative pipeline in the Disney Company. It makes me wonder if he isn’t happy with the changes in and coming to the parks. It makes me wonder if he really does have a vision for the Disney company more than just money. I wouldn’t want to be in his shoes if I had the job to overcapitalize and destroy the soul of the Disney Company and Chapek is perfect for that.

Iger approved the changes to the parks. He promoted Chapek to be in charge them. Chapek isn’t some guy who somehow forced himself in against Iger’s wishes.

 

[Cesar R M]

One of the greatest scenes in movie history

I really liked the firefight in the roofts in the second.
Where Debrin and one bad guy are firing at each other 1 meter apart.
Then Nordberg blows the entire wall with an artillery piece he assembled by himself.

 

[Sirwalterraleigh]

I really liked the firefight in the roofts in the second.
Where Debrin and one bad guy are firing at each other 1 meter apart.
Then Nordberg blows the entire wall with an artillery piece he assembled by himself.

Those are hilarious movies that hold up. I watched them recently.

Even the third/bad one is side splitting. At the beginning when they’re doing the train station scene from the Untouchables...Frank is reading a newspaper that says “Found For Dyslexia Cure” as the headline

 

[Missing20K]

Nothing says you are a true creative like “I couldn’t come up with something better than the Incredicoaster.”

I'm gonna say it was more like "All of these other creative ideas are too creative.....I like 'Incredicoaster', 'cause it beats people over the head as to what the attraction is. It also looks good on merch."

Point being, I'd bet dollars to donuts that neither Iger or Chapek did anything creative beyond deciding among pre-selected options that their reports knew wouldn't rock the boat, could be easily monetized, and upheld the two most important themes of new school DIS culture...

 

[el_super]

It is how it works... because while its reported as a breakout... the larger business unit and twdc itself do not want to post those same misses all the way up the chain.

Except it's not really how it works, because cost reduction efforts usually take months to identify and implement in a company the size of Disney. And if there are opportunities to save money by reducing cost, Disney would be obligated to do these regardless of China. They would have started these weeks ago.

There's a lot of bad assumptions here being made based on the topic du jour, but imagine if WDI started laying off project hires for SWGE and those reductions were being attributed to Corona Virus.

 

[UNCgolf]

Modernization is needed to keep the property looking fresh and interesting for future visitors that wouldn't lean so heavily on nostalgia.

I don't think anyone is mad about modernization; they're upset about homogenization and blandification.

 

[el_super]

Iger wanted to step down to focus more on the creative pipeline in the Disney Company. It makes me wonder if he isn’t happy with the changes in and coming to the parks. It makes me wonder if he really does have a vision for the Disney company more than just money. I wouldn’t want to be in his shoes if I had the job to overcapitalize and destroy the soul of the Disney Company and Chapek is perfect for that.

As generally supportive of this change as I have been, this was a completely targeted statement to asauge concerns on Wall Street. They are immensely supportive of Iger and the good he has done for Disney, and don't want him to leave... Ever. There have been enough concerns raised that Chapek hasn't the creative chops (not coming from the Hollywood background of Iger and Eisner) and this addresses that while also outlining a 20+ month transition period.

 

[el_super]

I don't think anyone is mad about modernization; they're upset about homogenization and blandification.

And some people like homogenization. It's all just subjective. The ultimate goal is to cater to what the broader audience wants, and maximize those high guest ratings and return rates. And of course to be prepared to change something if it doesn't work.

 

[MisterPenguin]

Now I’m scared, I hope this clown isn’t running for president. I’d much rather have him run Disney than my life.

Perhaps you're not a U.S. citizen and you don't know how primaries work? See below.

That's been rumored for a long time but it's far too late now for any kind of serious 2020 run to be anything more than a write-in. You may see him pop up in 2024 though.

Indeed. In order to have a serious run for presidency, you'll need to be the candidate chosen by either the Republican or Democratic Parties.

The Democrats have already started voting in several states for the delegates at the national convention. At this point, if Iger would want to win at the convention, he'd have to start being listed on the ballots of the upcoming state primary elections. And there's been zero work done so far to make that happen. No exploratory committee. No fund raising. No collection of signatures to get on ballots. No declaration with the federal voting commissions.

None of that has begun. It is way too late to have a chance to win enough delegates at the Democratic National Convention.

Being chosen from a deadlocked convention or *successfully* running as an Independant is the pipe dream of the criminally insane. Or, a conspiracy nut who thinks that someone making a surprise run at the presidency does so not by leaving their job, because Iger hasn't, but by getting themselves promoted in it. The Disney board would never allow their Chief to remain on the board while running for president.

 

[UNCgolf]

And some people like homogenization. It's all just subjective. The ultimate goal is to cater to what the broader audience wants, and maximize those high guest ratings and return rates. And of course to be prepared to change something if it doesn't work.

Of course; there are always some people that like basically anything.

But if Disney resorts continue to be homogenized, there will be little incentive for anyone to stay at them beyond the handful with Skyliner/monorail access. If you can stay at an off-site hotel that looks exactly the same as a Disney resort and has all the same perks (60 day FastPasses etc.) but costs $150 less a night, why bother staying at a Disney property? It's not like they were having trouble filling up the WDW resorts.

 

[Sirwalterraleigh]

And some people like homogenization. It's all just subjective. The ultimate goal is to cater to what the broader audience wants, and maximize those high guest ratings and return rates. And of course to be prepared to change something if it doesn't work.

The idea of different concepts/themes didn’t happen by accident in Orlando...it was a way of diversifying the appeal to a larger audience to ensure longterm business and limit the risks of people changing tastes and turning away en masse.