News Bob Iger Steps Down - Bob Chapek CEO

[Disney Irish]

Igers parachute was estimated at a half billion when he announced stepping down from ceo...which is the title it was written for. You know that retirement packages are basically guaranteed for all big-time CEOs...and Iger had complete leverage based on performance to have that privilege as well as an escape clause. He would have had to have the dumbest lawyer on earth for that not to be the case.

I’m waiting to see what details emerge. You are probably making this more complicated when it’s pretty simple.

I did see he barely...and just barely...had last years compensation approved by the board the other day. Good times for Bob.

That $500 Mil number that you are throwing around here was the number from a couple years ago, prior to this whole COVID-19 mess. And was reportedly all stock. And if so wouldn’t be close to $500 mil at this point. The board would put a required hold time on when those stock awards can be cashed out after Iger leaves, guarantee it.

 

[Sirwalterraleigh]

That $500 Mil number that you are throwing around here was the number from a couple years ago, prior to this whole COVID-19 mess. And was reportedly all stock. And if so wouldn’t be close to $500 mil at this point. The board would put a required hold time on when those stock awards can be cashed out after Iger leaves, guarantee it.

So like $300 then?

He would have set price options and a waiting time for certain percentages of divestment. So bob got a nice chunk of cash...and has to wait and see on the rest. We’ll know eventually.

That package is undoubtedly smaller now. But again he would have to have the worst lawyers on the planet without differing levels of guarantees.

Hell...they almost paid Dick Fuld a $72 mil severance in 2008. It was “controversial” to call it a firing and withhold it.

Never ask for a dime from rich men - moral of the sorry

 

[Disney Irish]

So like $300 then?

He would have set price options and a waiting time for certain percentages of divestment. So bob got a nice chunk of cash...and has to wait and see on the rest. We’ll know eventually.

That package is undoubtedly smaller now. But again he would have to have the worst lawyers on the planet without differing levels of guarantees.

Hell...they almost paid **** Fuld a $72 mil severance in 2008. It was “controversial” to call it a firing and withhold it.

Never ask for a dime from rich men - moral of the sorry

Well if we're going on that report where that $500 Mil came from it would be vested over four years until 2021. So if that's the case and that was back in 2018, then its only vested 50% at this point. Plus then he has to wait out the hold period upon his leaving the company in 2021 before he can cash out. So no he doesn't get a nice chunk of cash right now. He'll probably have to wait until 2022 or 2023 before he can sell any of it.

Not to mention he wouldn't be selling any stock right now anyways due to the stock being low. So again he isn't walking away with anything right now. He is going to make sure the company and thus the stock is flying high before he leaves the company, if not for anything else than to get that big "pay day" as you keep trying to say is the reason he vacated the CEO title.

 

[Sirwalterraleigh]

Well if we're going on that report where that $500 Mil came from it would be vested over four years until 2021. So if that's the case and that was back in 2018, then its only vested 50% at this point. Plus then he has to wait out the hold period upon his leaving the company in 2021 before he can cash out. So no he doesn't get a nice chunk of cash right now. He'll probably have to wait until 2022 or 2023 before he can sell any of it.

Not to mention he wouldn't be selling any stock right now anyways due to the stock being low. So again he isn't walking away with anything right now. He is going to make sure the company and thus the stock is flying high before he leaves the company, if not for anything else than to get that big "pay day" as you keep trying to say is the reason he vacated the CEO title.

The stock is “low”?

Based on what assumption?

Boy...you are way more confident than is warranted in strange days.

Good data on the 4 years vesting. Poor Bob

 

[Disney Irish]

The stock is “low”?

Based on what assumption?

Boy...you are way more confident than is warranted in strange days.

Good data on the 4 years vesting. Poor Bob

The stock has been low since his “retirement” announcement based on where its been over the period of time of his vesting period. So based on that it would not be a good time to sell since the stock is down from its all time high back in November.

 

[AJFireman]

He's Back....

Some takeaways in the article Disney Borrowed 6 Billion dollars at the end of March. Disney Spokesperson declined to make Chapek available for an interview.

Bob Iger Thought He Was Leaving on Top. Now, He’s Fighting for Disney’s Life. (Published 2020)

The former C.E.O. thought he was riding into the sunset. Now he’s reasserting control and reimagining Disney as a company with fewer employees and more thermometers.

www.nytimes.com

 

[truecoat]

I just heard that Chapek is out.

 

[truecoat]

Chapek was Leno’d by Iger.

 

[brb1006]

Well this came out of nowhere... again

 

[TROR]

That's wild. So who's in charge of the Parks now?

 

[brb1006]

That's wild. So who's in charge of the Parks now?

TP2000 is going to enjoy this news.

 

[George Lucas on a Bench]

That's wild. So who's in charge of the Parks now?

As far as I know, the ducks and cats.

 

[Sailor310]

I vote for TP

 

[brb1006]

As far as I know, the ducks and cats.

Speaking of cats, the Disneyland cats are doing a very good job protecting Disneyland. Just look at them go

Just recently, these kittens (Marie, Toulouse, and Berlioz) have also joined in on protecting Disneyland

Since they're debut at Tommorowland last Christmas, these three have been teaching these cats some new dance moves.


Since Disneyland is closed, Everybody Can Truly Be A Cat! Especially since this year marks the 50th Anniversary of The Aristocats. Hope the kittens are teaching the Disneyland Cats their Scales And Arpeggios.

 

[Disney Irish]

And this is exactly as predicted, if for any reason Iger needed to retake control he would. This is the very reason he didn’t just leave the company altogether.

BTW, Chapek so far appears to have not left the company or vacate the title. So who knows how long Iger will retain control of the company.

 

[Darkbeer1]

Bob Iger Thought He Was Leaving on Top. Now, He’s Fighting for Disney’s Life. (Published 2020)

The former C.E.O. thought he was riding into the sunset. Now he’s reasserting control and reimagining Disney as a company with fewer employees and more thermometers.

www.nytimes.com

 

[TheRealBobIger]

I'M BACK

To my predecessor @realBobChapek you have done an amazing job the last five weeks. You will always be the #1 Bob in my eyes.

 

[SuddenStorm]

Nothing is confirmed yet. All rumors, but it seems Bob I has been making major decisions for the company in the last few weeks.

Yeah, I'd bet Chapek hasn't done anything meaningful the last month. Maybe in the beginning, but I'd bet Iger was still making the important decisions.

 

[smooch]

I just heard that Chapek is out.

I haven't heard that he's out, I just heard that Iger is taking back the responsibilities of being CEO while Chapek technically retains the title. I'm interested to see any statements / developments, this is all really interesting to watch the shuffling behind the scenes.

 

[Magicart87]

Bob Iger Steps Down - Bob Chapek CEO, Bob Iger Steps Up - Bob Chapek Backs Down.
(You do the "Hokey Pokey" and your turn the company around... that's what it's all about!)