News Bob Iger is back! Chapek is out!!

[Sirwalterraleigh]

From Bloomberg:

Chapek’s parachute is est $23,000,000 plus potential options

Also…Disneys biggest problem is likely China…they are way too dependent on it’s production and it’s crippling them.

I know what you’re thinking…and we’re all right

 

[MisterPenguin]

I just saw the Lightening Lane signs are down and FastPass+ signs are back up already!

Yes, great news! And the new FastPass+ is only $40/day!

 

[MisterPenguin]

So Iger only has a two year deal with a mandate from the board to find his successor (what year is it?) - so now the question becomes: does Disney actually look outside the company for their next CEO?

Iger had plenty of extensions to his previous contract as the next person being made ready to take over kept getting fired. There's nothing to stop that from happening again... except maybe a run at a political office...

 

[wdwmagic]

Incredible development, but don't expect drastic changes in the parks. The things that are hugely unpopular (Genie and Reservations) are key to revenue right now, and Iger is not going to want to let that decline any further.

 

[MisterPenguin]

given their debt situation and the need for D+ to succeed, I think it’s unlikely they have the cash to make any acquisition that will stop the bleeding.

I’ll go a step further - I think it’s likelier that Disney is acquired in some form or fashion in the next few years than they acquire a hot and valuable IP on the level of Pixar, Marvel, and Lucasfilm.

Okay, let me lay a marker: Bob Iger won’t be coming in to help find the next CEO. Bob Iger is going to be Disney’s last CEO.

Disney's on track to making $4B a year just like before the pandemic. That's even after peak D+ spending. Disney will have no trouble dealing with their debt obligations.

 

[JustInTime]

if I were CEO I would introduce a free Genie+ option for resort guests. Maybe you get a few free per day. If you want more you can upgrade. I really hope Iger does something similar.

 

[JustInTime]

Incredible development, but don't expect drastic changes in the parks. The things that are hugely unpopular (Genie and Reservations) are key to revenue right now, and Iger is not going to want to let that decline any further.

Thank you and thank you for cleaning up this thread. Now we celebrate

 

[Fido Chuckwagon]

But now we’re getting Iger 2.0, he’s a leaner, meaner Iger who really wants to buff his legacy with the announcement of a 5th gate.

 

[jaxonp]

Iger has on a $2000 Tom Ford cardigan and Chapek has a suit top swimming on him. They need somebody in between.

Iger is wearing something far more expensive than Tom Ford.

 

[monothingie]

Incredible development, but don't expect drastic changes in the parks. The things that are hugely unpopular (Genie and Reservations) are key to revenue right now, and Iger is not going to want to let that decline any further.

At best for the parks you’ll see a better PR approach towards “selling” the unpopular changes made in the past 2 years. I also think the media will be less likely to jump on the decline in guest satisfaction because they fear and/or will cover for Iger as opposed to Chapek who they mocked.

 

[epcotWSC]

It speaks volumes to the state of TWC's executive group if they need another two years to find a new CEO. People wonder why the product is in rapid decline...

 

[mightynine]

Iger had plenty of extensions to his previous contract as the next person being made ready to take over kept getting fired. There's nothing to stop that from happening again... except maybe a run at a political office...

I thought the joke about what year is it covered the fact that extensions are possible - but with this board, watch out for those and outward shows of support!

 

[rio]

It seems Disney hasn't learned that allowing 1 person to be the company head is bad for them. First Tatum, then Eisner, and now Iger.....

What's even sader about this is that Iger stepped down right when COVID was starting to protect his legacy rather than actually lead, and now doesn't get the blame for Genie+ and all the other monetization that's occurred over the past couple years.

 

[CaptainAmerica]

I will fight anyone IRL who disparages Iger's cardigan game.

 

[monothingie]

Should we start “Josh Watch” thread about the future of our favorite executive in the 2 sizes to small skinny pants?

 

[larryz]

I needed some good news after my Vikings got destroyed today!!!

Ha! Tigers won, Saints won, and Disney fans won, all on the same weekend!

 

[SpoiledBlueMilk]

So is this considered Bob 3.0? Hopefully he has learned from his mistakes & listened to complaints & comes back
And realized he needs to build out capacity in ALL 4 parks

That's my concern. Which Bob Iger are we getting?

 

[CaptainAmerica]

Ha! Tigers won, Saints won, and Disney fans won, all on the same weekend!

How exactly have Disney fans won?

 

[m steve]

This is great news. Hopefully we will get some resort perks back.

 

[Sirwalterraleigh]

I’m surprised some of you are skocked.

I’m mildly surprised about Iger.
I’m not remotely surprised about Chapek.

He wasn’t doing anything Wall Street wanted him to do. He was trying to run Disney like a cash-cow blue chip company, when Wall Street had priced it as a top line growth company.

He was the subject of constant hit pieces in the press, full of quotes from his subordinates.

The loudest most visible person on America’s leading business network recently started calling for his firing, repeatedly, and harshly.

This was far more likely than not in recent weeks/months.

That was an Iger creation