News Chapek FIRED, Iger New CEO

[el_super]

He’s using the parks short term revenue boost and the studios good name to boost up the Disney+

It's possible, but until there is any real measurable downside to doing so, this can't be counted as a strike against him. His job is to secure the long term success of the entire company, and propping up streaming is seen as the path toward that success.

 

[GoneViral]

I remember telling my secretary to page me on my pager back in the day so I can get out of a meeting.

I had a Blackberry and people used to ask me what it was all the time.

 

[Robbiem]

I also wouldn't expect anyone on the BOD to make a public statement indicating a lack of confidence in Chapek in advance of any potential ouster, especially at a time of rampant market volatility.

I'm not necessarily saying that he's sure to be canned, just that this statement doesn't change my mind about the situation.

Well you have to be 100% behind somebody to stab them in the back!

 

[Sirwalterraleigh]

DIS today: Currently -2.42 @ $104.54/share.

What’s more telling is after weeks of “rebound” prognostication…it’s back to where it was on 5/24…and falling.

So every-time it does that…big traders can make a little money…but they are unattractive to funds and such…
As I understand it.

 

[Sirwalterraleigh]

I had a Blackberry and people used to ask me what it was all the time.

In the Canadian National museum now

 

[bcoachable]

Maybe he wasn’t sharing the information that he wasn’t making the move from Anaheim to Lake Nona?

 

[Slpy3270]

Hmmm....if this is true you have wonder if that statement from the board was intentional and that they had a hand in Rice's dismissal.

 

[the.dreamfinder]

Disney Insiders, Hollywood Execs Stunned at How Bob Chapek Ousted Peter Rice

The decision to fire a well-respected executive in the most unceremonious possible manner set off waves of outrage and a stock price hit: “It's not good for the company. Morale is terrible.”

www.hollywoodreporter.com

 

[Vegas Disney Fan]

I don’t know which is more troubling as a parks fan, that every change Chapek has made has been bad for guests or that the board fully supports that?

Sounds like even if Chapek goes the board will continue on this disastrous path, I guess I’m becoming an old timer because I’m starting to think the Disney parks that turned me into a superfan are gone and never coming back.

 

[Sirwalterraleigh]

So just perusing the reaction from the press…it seems the best description of how Rice’s departure was handled is “abrupt”…but mostly “clumsily”

 

[Sirwalterraleigh]

I don’t know which is more troubling as a parks fan, that every change Chapek has made has been bad for guests or that the board fully supports that?

Sounds like even if Chapek goes the board will continue on this disastrous path, I guess I’m becoming an old timer because I’m starting to think the Disney parks that turned me into a superfan are gone and never coming back.

Are you sure that’s exactly what’s going on here?

The stock is still “down” 50%….and this guy isn’t liked by anyone on a “probationary” contract

 

[Rhinocerous]

Read that last sentence. You have to wonder if Chapek made that same conclusion.

I don’t know a thing about Rice, beyond what I’ve read today. That being said, I would consider taking the “extra layer” thing at face value. Speaking as an employee of a company recently acquired by Mr. Zaslov, this very much aligns with his management style. It’s something he’s been fairly public about.

 

[BrianLo]

Smartphones are done. Pagers will make a come back any day.

<- Still uses a pager.

 

[MisterPenguin]

Disney fires Peter Rice, its top TV content executive. (Published 2022)

Some in the entertainment business had once seen him as a possible candidate to succeed Bob Chapek as Disney’s chief executive.

www.nytimes.com

 

[MisterPenguin]

Peter Rice Sends Last Memo to Staff After Disney Ouster: ‘I Am Incredibly Sad’

After being ousted from his post as Disney’s head of TV content on Thursday, Peter Rice sent a final memo to staffers.

variety.com

 

[MisterPenguin]

The Shocking Disney Shakeup: Why Exactly Was Peter Rice Ousted?

Peter Rice built a reputation as one of the media industry's quieter operating executives and let his subordinates take the spotlight.

variety.com

 

[Sirwalterraleigh]

Yeah. Seriously. He's been in the role for two years now, he's built relationships and worked to understand the business. He has experience as CEO no one else has right now, for parks and the studio both. Who out there could say the same?

Probably also an aspect in the board supporting him: they can't find anyone else qualified for the position. It's most likely the reason he got the CEO spot in the first place.

Replacing him might mean having to endure another shaky transition period, and that might be less desirable to the board.

He’s a joke right now on Wall Street and an enemy to damn near all of Hollywood.

Are you talking about the same guy?
“Mr experience”?

His “not shaky” transition period is an $87 a share stock drop when the rest mostly roared…

Can I offer you some Hi-C instead of the Koolaid?

 

[Ayla]

So just perusing the reaction from the press…it seems the best description of how Rice’s departure was handled is “abrupt”…but mostly “clumsily”

View attachment 644736

Goodness, that doesn't sound like Chapek at all.

 

[Riverrafter21]

I would imagine Chapek is again trying to take control of this circus of a company Iger left him.

He is finally harnessing his inner Machiavelli and realizing that if they won’t love/respect you, they will fear you. Eliminating political threats to the crown is a smart play here.

 

[el_super]

His “not shaky” transition period is an $87 a share stock drop when the rest mostly roared…

If you're going to focus on the stock price, are you going to give him credit for the 5 year high he achieved in march of 2020? There wouldn't be such a huge drop if he hadn't achieved so much...