"The corporate drama comes as Disney’s board of directors gathers in Orlando for its annual retreat, where the 11-member body, of which Chapek is a member, thoroughly reviews the company’s businesses and engages in deep dives on strategic questions.
The meeting, which begins Monday, is expected to culminate in the christening of the firm’s newest cruise ship, the Disney Wish, with a Wednesday event at Cape Canaveral featuring costumed Disney characters and the Make-a-Wish Foundation. Chapek sits on the nonprofit organization’s national board of directors.
While questions about leadership are sure to come up, the board meetings tend to be dominated by long, dry business presentations. CEO contracts are typically discussed in committee behind closed doors or remotely. Most people who spoke to the Times expect the board to re-up Chapek, if not at the meeting, then later this year.
A Disney spokeswoman declined to comment on board activities, and members of the board didn’t respond to requests for comment.
Christine McCarthy, Disney’s senior executive vice president and chief financial officer, praised Chapek’s leadership in a statement provided to the Times.
“Bob Chapek stepped into his CEO role only two weeks before most of the company’s businesses shutdown, and he deserves credit for leading the company through the unprecedented crisis of a global pandemic and emerging even stronger,” McCarthy said. “His fact-based decision making has been focused on creating long-term value for the company and delivering results, and I could not be more happy with the great team Bob has created over the past few years. That, to me, is the sign of true leadership.”
Disney Chairman Susan Arnold, in a statement earlier this month, signaled that Chapek had the board’s backing and praised his “leadership and vision for the company’s future.”
Reversing that position would be embarrassing for the board, people familiar with the company said. Plus, there’s no obvious internal candidate for the job, a significant factor for Disney, which tends to promote from within.
Still, Arnold’s statement did little to still wagging tongues in Hollywood, where some viewed a statement of support without a firm contract commitment as coming from a place of weakness."
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He has the board's support, but Disney CEO Bob Chapek has had a rough time with DeSantis, a slipping stock and concerns about Disney+. How long will he hold on?
www.latimes.com
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