News Chapek FIRED, Iger New CEO

[Tom P.]

Correct me it I'm wrong, but it seems highly unusual that a major move like this would happen on a Sunday night? Doesn't that seem to mean that something blew up internally that we are not yet privy to that caused the board to have to move immediately?

 

[vikescaper]

Can Christine McCarthy be next?

 

[flynnibus]

He was fired.

I'm sure he officially "stepped down", but that only happened because the board forced it. He didn't just randomly decide to stop being CEO.

Timing is interesting... so I don't think it's a direct 'you failed, so you're fired'... this almost sounds like a 'situation' scenario. Something blew up.. and the board had to react on very short notice. I mean, how else does this go down on a Sunday night the week before thanksgiving without a peep before hand?

I wonder if there was some new mandate that BC was given that he just flipped his table over? I would be shocked that the board would move on such odd timing if it were just performance related.

 

[UNCgolf]

You have to imagine that it is probably through the end of FY2024, with a decision to promote D'Amaro or go external to be made apparent a year from now.

Will any insiders cop to knowing about this before the email came out? I cannot piece this together in my head how it just dropped like this.

Yeah, I think that timeline sounds right.

Also sounds like Jim Cramer may have had some inside info after all.

 

[ULPO46]

The damage is done though it’s going to take years for Disney to recover it’s image with its consumers and public not to mention all the cast members across the company. In a sense we still have Imagineering moving to Orlando full time. Might finally get the budget to build a response to Epic Universe but this is the guy who put the chess pieces in the hands of Chapek. Not happy with the news because it’s just going to be the same old same old of uncertainty. I see him here a year before they can find a real legitimate replacement. Imagine had they done this with Eisner.

 

[Animaniac93-98]

Reports say Iger came down a grand staircase in a red dress to sing with the corporate culinary staff about how "nice it is to be back home where I belong".

 

[_caleb]

Exactly. Iger created this mess by picked Chapek in the first place after spending years not creating a succession plan so he could play the reluctant leader. This is good for Iger who really gets to drive home that narrative but it’s not good for anyone else.

You don’t think Iger’s going to style himself as the anti-Chapek now? I think he will. I also think he’s trying to figure out what he wants to be remembered for, and at this stage of his life is more likely to look at big-picture than short-term gains.

But maybe that’s just wishful thinking.

 

[Andrew C]

Correct me it I'm wrong, but it seems highly unusual that a major move like this would happen on a Sunday night? Doesn't that seem to mean that something blew up internally that we are not yet privy to that caused the board to have to move immediately?

Stock bump on Monday?

 

[_caleb]

Someone wake up Martin.

Is there like a red Mickey phone we can use for emergencies?

 

[fgmnt]

Yeah, I think that timeline sounds right.

Also sounds like Jim Cramer may have had some inside info after all.

Honestly, a bigger upset than the news itself!

 

[UNCgolf]

Timing is interesting... so I don't think it's a direct 'you failed, so you're fired'... this almost sounds like a 'situation' scenario. Something blew up.. and the board had to react on very short notice. I mean, how else does this go down on a Sunday night the week before thanksgiving without a peep before hand?

I wonder if there was some new mandate that BC was given that he just flipped his table over? I would be shocked that the board would move on such odd timing if it were just performance related.

I'm wondering if it came from Iger; if he's been pushing the other board members and they finally caved.

 

[Captain Neo]

Correct me it I'm wrong, but it seems highly unusual that a major move like this would happen on a Sunday night? Doesn't that seem to mean that something blew up internally that we are not yet privy to that caused the board to have to move immediately?

Could be a bit of both. This past week I think all the negative press the parks were getting from all sides (WSJ wrote a front page article, Jim Cramer called for his resignation, The Young Turks did an episode on the disney parks crumbling) just hit a critical mass on top of his other and they had to ditch him

 

[jrhwdw]

Iger left February 2020 and came back November 2022. I guess that means the pandemic is over.

WDW started it's real COVID Recovery July 1, 2021 IMO. Also, F! just returned on Nov 1, all under Chappie......

 

[Mouse3268]

I might be in the minority here, but I was generally cool with Iger's reign, especially as it compared to the disaster of Chapek. Hopefully he does a better job picking a replacement and this helps right the ship.

 

[lazyboy97o]

You don’t think Iger’s going to style himself as the anti-Chapek now? I think he will. I also think he’s trying to figure out what he wants to be remembered for, and at this stage of his life is more likely to look at big-picture than short-term gains.

But maybe that’s just wishful thinking.

Iger’s greatest skill is getting people to just accept what he says. He can declare himself different while doing the same and people will buy it. It’s exactly what he did with Eisner.

 

[monothingie]

 

[Andrew C]

The Golden Mickeys on DCL makes sense once again.

 

[Smiley/OCD]

As I had said when the BoD gave him an extension and their vote of confidence that it was the KISS OF DEATH…

 

[danv3]

It didn’t “happen” tonight. They’ve presumably been negotiating the exit since late last week. Just needed to press release it before or after market hours.

We’ll know more when they file the 8-K.

 

[Animaniac93-98]

Correct me it I'm wrong, but it seems highly unusual that a major move like this would happen on a Sunday night? Doesn't that seem to mean that something blew up internally that we are not yet privy to that caused the board to have to move immediately?

Timing is interesting... so I don't think it's a direct 'you failed, so you're fired'... this almost sounds like a 'situation' scenario. Something blew up.. and the board had to react on very short notice. I mean, how else does this go down on a Sunday night the week before thanksgiving without a peep before hand?

I wonder if there was some new mandate that BC was given that he just flipped his table over? I would be shocked that the board would move on such odd timing if it were just performance related.

The whole situation is bizarre and I think unprecedented in the company's history.

I haven't seen anything this bonkers from Disney since...they made a cartoon show called Bonkers.