Disney Chief Executive Officer Bob Chapek elected to The Walt Disney Company Board of Directors

[wdwmagic]

Disney Chief Executive Officer Bob Chapek elected to The Walt Disney Company Board of Directors

Less than two months after taking the CEO position at the Walt Disney Co., Bob Chapek now has a seat on the board.

www.wdwmagic.com

 

[HauntedPirate]

Something doesn’t smell right with this...

 

[seascape]

Something doesn’t smell right with this...

It is a vote of confidence in him and his selection.

 

[el_super]

It's sort of a formality for the CEO.

 

[THEMEPARKPIONEER]

I am honored to join the Walt Disney Company Board of Directors!

Where’s my LIGHT PARADE?!?!?!?!? Come on it’s people like who love your park and been loyal regular customers for years that help your customer base maintain and grow, read the forums, throw us a bone here and there.

 

[HauntedPirate]

It is a vote of confidence in him and his selection.

I understand that. But this comes on the heels of the NYT and Barron's articles which stated Iger was steering the ship more than Chapek right now. If it's truly a vote of confidence in Chapek, then the reports of Iger's pseudo-return to power are either false or exaggerated. Or this isn't truly a vote of confidence in Chapek and could be seen as a way to make the optics look good so the stock price can rebound. Or maybe the articles on Iger are supposed to accomplish that (he is the largest single shareholder...). In other words, to me this is as clear as mud.

 

[el_super]

I understand that. But this comes on the heels of the NYT and Barron's articles which stated Iger was steering the ship more than Chapek right now. If it's truly a vote of confidence in Chapek, then the reports of Iger's pseudo-return to power are either false or exaggerated. Or this isn't truly a vote of confidence in Chapek and could be seen as a way to make the optics look good so the stock price can rebound. Or maybe the articles on Iger are supposed to accomplish that (he is the largest single shareholder...). In other words, to me this is as clear as mud.

I don't think much stock should be placed on the NYT article. There never was any clear indication if Iger gave up any of the powers he was supposedly taking back. Iger taking the title of "Executive Chairman" was unusual enough as to not give any clear indication of what exactly that role meant, so it's hard to gauge now what powers are supposed to lie with him, versus the CEO.

I think the easier to understand and most likely scenario is that Chapek needed more training and experience to be CEO before being allowed to fly solo, and that, as his trainer, Iger was still technically supposed to be watching over his shoulder and making decisions.