News Chapek FIRED, Iger New CEO

[Lilofan]

A couple of weeks ago, Disney CEO Bob Iger was on CNBC talking about his contract extension to 2021 and then he dips the day after the Weinstein trials, intresting for sure.

This move seems to be abrupt and not planned well in advance. The truth will come out later.

 

[Mouse Trap]

Spider-Man is split with Sony and Captain Marvel was awful. The Mandalorian is a hit...and the only one.

You asked if people cared and the box office numbers prove so. You didn't ask if the films were good.

 

[ImperfectPixie]

This move seems to be abrupt and not planned well in advance. The truth will come out later.

That's my feeling too, that something big might drop.

 

[disneylandcm]

Soon, we won't be able to use the bathroom at WDW without being bombarded with characters and IP.

I, for one, look forward to this because I never feel immersed while urinating.

 

[Serpico Jones]

You asked if people cared and the box office numbers prove so. You didn't ask if the films were good.

I meant will anyone care moving forward now that the Skywalker saga is over.

 

[mikejs78]

Iger is still sticking around for a while. Just not as CEO.

That is neither realistic nor possible in a public company.

Corporate bylaws must be observed in a public company. The new CEO cannot report to the former CEO who just invented a new title not defined.

That works in the Russian “parliament”...not in Burbank or on Wall St


...now here we go...I bet it won’t be JJ Abrams.

A current CEO reporting to someone technically below him??

Has this ever happened before?

A CEO reporting to someone. Any incoming CEO would not agree to this except Chapek.

Old CEO says, "the new CEO reports to me" is a weird look.

Wasn't the question asked yet in any official media availabilities such as conference call or interview, "And exactly why now?"

The CEO reports to the board. In this case will report directly to Executive Chairman, who has also been assigned creative oversight of the company. Pretty much Iger stripped all of his day-day duties but one, creative oversight, and handed the day-to-day operations to Chapek.

Publicly traded?

I can see the angle for Iger...but it also commits him to Disney for the long term and he has never given any hint that was a desire for him.

I think it’s more likely this is actually PR and Iger leaves this new “role” on year early as is the pattern...so 12.31.20

It's not an uncommon thing for a CEO to step down and remain on as executive chairman for a time, with the new CEO reporting to him. It happened at Microsoft when Bill Gates stepped down and Steve Balmer took over. It also happened at Google when Eric Schmidt stepped down as CEO and Larry Paige took over... This makes sense. Chapek will be CEO, but Iger is there to reign things in if Chapek isn't up to the job.

 

[LSLS]

Spider-Man is split with Sony and Captain Marvel was awful. The Mandalorian is a hit...and the only one.

Your personal feelings have no relevance to the fact it was over a billion dollars.

 

[GrizzlyAdams]

Didn’t the Board shoot down the last successor named? Maybe Iger just pulled the trigger himself to not go through that hassle and focus on whatever he wants creatively now for the remainder of his time.

i love that Chapek wiki page btw.

 

[Animaniac93-98]

Chapek will be CEO, but Iger is there to reign things in if Chapek isn't up to the job.

I seriously doubt that in less than two years he's suddenly going to be capable of running a company on the scale of Disney, even with help from Big Bob.

 

[RustySpork]

Spider-Man is split with Sony and Captain Marvel was awful. The Mandalorian is a hit...and the only one.

Sorry, but Captain Marvel's $1B take says otherwise.

 

[Rteetz]

Didn’t the Board shoot down the last successor named? Maybe Iger just pulled the trigger himself to not go through that hassle and focus on whatever he wants creatively now for the remainder of his time.

i love that Chapek wiki page btw.

Staggs and Rasulo were vying for the job the first time Iger wanted to leave. Neither got it of course.

 

[RustySpork]

Staggs and Rasulo were vying for the job the first time Iger wanted to leave. Neither got it of course.

Everyone in this forum probably wants it too. Just sayin, you know...for context. /s

 

[Sirwalterraleigh]

It's not an uncommon thing for a CEO to step down and remain on as executive chairman for a time, with the new CEO reporting to him. It happened at Microsoft when Bill Gates stepped down and Steve Balmer took over. It also happened at Google when Eric Schmidt stepped down as CEO and Larry Paige took over... This makes sense. Chapek will be CEO, but Iger is there to reign things in if Chapek isn't up to the job.

Now this could make some sense...chapek would never be hired if he was brought in from the outside...so “probationary period” does make some sense...

The timing and sudden nature of this does not. But unless Iger has the DUMBEST lawyer in history...his parachute opened the minute he “stepped down”.

Based on the week of Wall Street...that is what makes sense. He would leave his contracted job and get the retirement package right now.

This could be exactly what Lucas was described to have attempted: get the money and retain the power.

As far as Wall Street..:this could be a canary in the coal mine. I would think the last thing Iger would want is to not get his package as the market goes down in any substantial way...it would probably force him to ride out the storm.

I don’t like bob too much...but this could be a very shrewd move

 

[rle4lunch]

Just when I was thinking about disney again this comes around. Suddenly my pfp is fitting...


What happens when we are happy about something?

The singularity happens.

 

[Kamikaze]

Lasseter...

Lasseter was hardly on the level of those being named (Weinstein, Cosby).

 

[Darkprime]

Some people are thinking that the reason theyre not giving Chapek keys to the creative side of the company is because there still not 100% in on Chapek. And it kinda makes sense. The fact theyre not giving Chapek the creative keys (i.e. the lifeblood of the company) until he proves to Iger/the Board he can oversee that effectively. Hypothetically if Chapek screws up hard prior to Dec 2021 they have a backup successor in Kevin Mayer.

 

[Lilofan]

Now this could make some sense...chapek would never be hired if he was brought in from the outside...so “probationary period” does make some sense...

The timing and sudden nature of this does not. But unless Iger has the DUMBEST lawyer in history...his parachute opened the minute he “stepped down”.

Based on the week of Wall Street...that is what makes sense. He would leave his contracted job and not get the retirement package right now.

This could be exactly what Lucas was described to have attempted: get the money and retain the power.

As far as Wall Street..:this could be a canary in the coal mine. I would think the last thing Iger would want is to not get his package as the market goes down in any substantial way...it would probably force him to ride out the storm.

I don’t like bob too much...but this could be a very shrewd move

Probationary CEO sounds like Chapek is not going to make Iger 's annual salary and bonus. But Chapek will do just fine increasing his personal net worth. I can see executives not wanting to work for Chapek leaving for personal reasons such as "spending more time with family or pursuing other interests".

 

[Phil12]

Let's start putting all that great IP to good use. Homer Simpson as the new narrator of Spaceship Earth is going to be epic!

 

[MaryJaneP]

So....is Chapek gonna fix the yeti?

If, by "fix", you mean "to repair to working condition", as opposed to using "fix" to mean "to render incapable of reproduction", we would think "No" to one of the meanings and "unlikely" to the other meaning.

 

[Tom P.]

Everyone in this forum probably wants it too. Just sayin, you know...for context. /s

Nah. I'd take President of Walt Disney World if offered. Maybe even Chairman of Parks, Resorts, and Consumer Products. But CEO of the whole company? No thanks.