News Chapek FIRED, Iger New CEO

D

DCBaker

Premium Member
Additional details on the contract -

"Chapek’s extended contract, which kicks in July 1, calls for him to be granted long-term annual stock awards of at least $20 million. Chapek’s annual base salary of $2.5 million is unchanged, according to contract details disclosed in a Securities and Exchange Commission filing."

variety.com

Embattled Disney CEO Bob Chapek Gets Contract Extension

Disney's board has voted to extend Bob Chapek's contract by three years.
variety.com variety.com
 
ElvisMickey

ElvisMickey

Well-Known Member
Smiley/OCD said:
You don’t have to buy it or believe it, but that’s what happened…any CEO, politician, military general, etc. wants to get any treat out of the picture as soon as possible. He may come across as a genius, but throughout history, the figures thought of as geniuses in their particular area of expertise all suffered from self doubts and inferiority complexes…and because of that personality flaw, they eliminate the most pressing threats.
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And how do yo know for a fact that that’s what happened?
 
TheMaxRebo

TheMaxRebo

Well-Known Member
Smiley/OCD said:
Welcome Chapek at the meeting the same way Roger Goodell is welcomed at the NFL draft or any other public appearance with a plethora of boos…will it solve anything? Probably not, but it’ll feel REAL good!
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I'd love if Chapek went full heel like Goodell does and Stern did with the NBA and just soak in the books and sy "aw, you can do better than that!"
 
GhostHost1000

GhostHost1000

Premium Member
In order for Chapek to have his contract extended, I think he should first be forced to stay at an All-Star resort for a week and use Disney bus transportation and genie+ everyday, eating every meal in the parks or at the resort with the goal to do as much as possible

Don’t forget those park reservations and 7am LL booking window chapy
 
Smiley/OCD

Smiley/OCD

Well-Known Member
ElvisMickey said:
I really don’t buy that at all. If you’re on the board, are you going to extend a CEO who supposedly acted like a child for 3 more years if it wasn’t in the best interest of your company? They most definitely had to be OK with this firing for one reason or another...
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If I’m on the BoD, and Chapek is keeping my bonuses plentiful, overall profits are good, I’m making money, hell yeah, I’m keeping him around…id be very surprised if half of the BoD have even set foot in a Disney park.
And again, using the sports analogy, ownership giving the coach, GM, manager a vote of confidence is akin to the kiss of death…maybe not tomorrow, next week, etc., but if I were Chapek, I’d be updating my LinkedIn profile and resume updated.
 
Smiley/OCD

Smiley/OCD

Well-Known Member
ElvisMickey said:
And how do yo know for a fact that that’s what happened?
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Let’s just say that I was in the business world long enough to make it obvious…I learned very early in my career that the most important part of being an excellent manager is not payroll, inventory control, HR, a good P&L (although they are EXTREMELY important) is to be a manager of personalities…you have to be able to get all pieces of the gear to mesh together…when that works, EVERYTHING else fits into place like a great jigsaw puzzle. Do I have an MBA? Nope, but every place I ran was in the black, ran well and I was rewarded accordingly.
 
Sirwalterraleigh

Sirwalterraleigh

Premium Member

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ElvisMickey

ElvisMickey

Well-Known Member
Smiley/OCD said:
Let’s just say that I was in the business world long enough to make it obvious…I learned very early in my career that the most important part of being an excellent manager is not payroll, inventory control, HR, a good P&L (although they are EXTREMELY important) is to be a manager of personalities…you have to be able to get all pieces of the gear to mesh together…when that works, EVERYTHING else fits into place like a great jigsaw puzzle. Do I have an MBA? Nope, but every place I ran was in the black, ran well and I was rewarded accordingly.
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Well, I’m 45 years old and have literally been with my company since I graduated high school…yes, almost 27 years now. I think the “Rice was a threat” argument is way too convenient. There is way more to this story…
 
Cmdr_Crimson

Cmdr_Crimson

Well-Known Member
DCBaker said:
Additional details on the contract -

"Chapek’s extended contract, which kicks in July 1, calls for him to be granted long-term annual stock awards of at least $20 million. Chapek’s annual base salary of $2.5 million is unchanged, according to contract details disclosed in a Securities and Exchange Commission filing."

variety.com

Embattled Disney CEO Bob Chapek Gets Contract Extension

Disney's board has voted to extend Bob Chapek's contract by three years.
variety.com variety.com
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Wonder what his secretary is saying..
judee.jpeg
 
BrianLo

BrianLo

Well-Known Member
There's an echo chamber going on here that are trying to pull their beliefs out of nonsense.

The stock price decline this year has very little to do with Chapek CEO run. It's still valued like a growth stock, or overpriced compared to their current earnings.

What has happened is a broader stock market trend (rapid interest escalation) and the wind coming out of the tech (particularly Netflix) sails that was artificially pumping up Disney stock. This is a stock that ludicrously passed its previous peak all while Parks and Resorts were mostly shuttered with COVID.

Disney is down 0.7% today or really is neutral in after hours trading and the S&P 500 is down 2%.

Get a grip everyone.

Edit: Just so I'm clear, this is not a defence post for Chapek's run. Just a reality check.
 
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S

scuttlebud

Active Member
ElvisMickey said:
I think the “Rice was a threat” argument is way too convenient. There is way more to this story…
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Undoubtedly there is more to this story. But the implication this is some clandestine rightward political shift is supported by no evidence. Disney was criticized for a late reaction to “Don’t Say Gay” then reversed course. Disney being one of the first to react to the Dobbs ruling points the exact opposite way.
 
bcoachable

bcoachable

Well-Known Member
el_super said:
Seriously though, if things are so bad why do the guests keep going? Why do they keep acting against their own best interests? You want to be mad at the board for not listening to the guests, but everytime they go to the parks, they are literally telling the board it is still worth the money.

Either the guests don't care about the problems, or they are finding value in the park experience that the community can't fathom.
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It’s those darn Endorphins that kick in the moment you see the castle. We’ve all felt it, no? So I think for some like most of us, the feelings are fading…
but all it will take is for a happy chappie to ring the “Free Dining” bell, and most of us will come running back.
 
bcoachable

bcoachable

Well-Known Member
Smiley/OCD said:
Let’s just say that I was in the business world long enough to make it obvious…I learned very early in my career that the most important part of being an excellent manager is not payroll, inventory control, HR, a good P&L (although they are EXTREMELY important) is to be a manager of personalities…you have to be able to get all pieces of the gear to mesh together…when that works, EVERYTHING else fits into place like a great jigsaw puzzle. Do I have an MBA? Nope, but every place I ran was in the black, ran well and I was rewarded accordingly.
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Sounds like what a good coach’s role is as well….
 
UNCgolf

UNCgolf

Well-Known Member
el_super said:
Yeah but again... If there were signs that something wasn't working, Disney would still have the opportunity to change. They are reactionary. Things won't stay the same for 10-15 years.
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Right, but so are consumers -- Disney could make changes to fix things and still have a 5-10 year period before it shifts back around. If people had a bad experience, don't want to go back, and tell others not to go, it's not easy to get them back and word of mouth can spread quickly. They might have to wait for the next generation.

I don't think it's going to happen, though.
 
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VJ

VJ

Well-Known Member
HauntedPirate said:
I hope that TWDC gets an enema and flushes out the BoD, Chapek, and all of his cronies, including The Man Who Wears Skinny Jeans.
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this attitude started with eisner in 84 (as much as people would rather you believe he was a saint who couldn't care less about money - honest! he was a regular walt!) and has been going strong for the past nearly-40 years

it's not the people that need changing, it's the corporate culture of "money above all else". chapek will just be replaced with someone that thinks like him, and his successor would be replaced by someone that thinks like them, and on and on
 

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