News Chapek FIRED, Iger New CEO

[rreading]

Report from where?

They said it themselves in the Investor Call, linked in page 2 of this thread

 

[IanDLBZF]

This smells like an interim role. Chapek is a Parks guy. Don't see him as Studios type.

He was in Studios for a while, then Consumer Products, and more recently in Parks.

 

[JustInTime]

Someone’s got to be otherwise they wouldn’t be doing it (despite the skewed board level pitches and cat like internal fighting)

Yeah, I also agree with that. Either way, I’m anxious nonetheless!

 

[SteamboatJoe]

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


What happens when we are happy about something?

Same thing oddly enough.

 

[Rteetz]

Report from where?

Thats what they said in their interview on CNBC.

 

[IanDLBZF]

Latest reports say Chapek will continue to report to Iger in his new role. Very interesting.

Similar to the Eisner to Iger transition where Iger was CEO and Eisner was chair.

 

[Nubs70]

On the investor call linked in this thread and available for anyone to listen to, Iger states that he - as his new ~Executive Chairman~ role - will be intending to oversee the creative plans for Disney while Chapek learns to negotiate the business of running the company.

As much as I'm happy that I dumped my stock a week ago due to Corona, this perspective makes sense. The other posters arguing that if Chapek is a disaster then Iger may step back in are likely correct, in my opinion.

I do expect Iger to cash in his stock before it takes a beating, but this transition period leaves me hopeful. I do think that Iger has a hope to be remembered as one of Disney's great leaders, and for him to let it fall apart in the handoff doesn't ring true for me. I think that he does plan to make sure that Chapek knows what he's doing, or to support his ouster if needed.

Keeping my fingers crossed...which is about all that we can do...

Iger handed this thing off like a dirty diaper.

 

[RustySpork]

Similar to the Eisner to Iger transition where Iger was CEO and Eisner was chair.

Iger's new title is "Overlord".

 

[Brer Oswald]

You know, due to the weird events with land opening ceremonies and strange timing of this whole thing, I’m starting to believe the Al Lutz Story we wrote off May have some truth to it after all.

 

[MagicWDI]

Report from where?

"Mr. Chapek assumed the role of CEO on February 25, 2020 and reports to the Company’s Executive Chairman, Robert A. Iger, and the Board of Directors."

- Walt Disney Company

Bob Chapek - The Walt Disney Company

Bob Chapek is Chief Executive Officer of The Walt Disney Company, one of the world’s largest media and entertainment companies and home to some …Read More

thewaltdisneycompany.com

 

[flynnibus]

This is absolutely bizarre. For years now Iger has said he is going to be leaving and then extending his tenure. He repeatedly promised a planned and orderly leadership transition. An immediate change doesn’t align at all with that past behavior.

Iger still leading creativity is at least a good laugh.

I'm sure his leading the board, along with an inside promotion is his 'orderly transition...'

 

[lazyboy97o]

This smells like an interim role. Chapek is a Parks guy. Don't see him as Studios type.

Chapek is not a parks guy.

 

[yensidtlaw1969]

What the Face!?

I misread this as "What a Farce!", and, well . . .

 

[trainplane3]

 

[Seabasealpha1]

Bob for Bob.

I pray that someone who’s a true parks fan gets that gig...not just another clueless bean counter...

(praying) “...please Lord Jeebus...help a Disnerd out...”

 

[Sirwalterraleigh]

It also drove millions to Disney+.

It's the kind of problem Disney is happy to have financially, I'm sure.

Their ESPN holdings, on the other hand...

It’s underachieving...that’s not what Disney wants.

As far as espn goes...blame Iger. He rode the cable gravy train until it was nearly collapse...the reality is he sat and took easy money when Disney + should have been established and building the market years ago.

People forget Netflix was a mail in movie rental not all that long ago.

 

[Lilofan]

Who's going now to run parks and resorts with Chapek promoted to puppet CEO directly reporting to Iger? Former WDW President George Kalogridis who has a "special projects" job is one to consider.

 

[Mouse Trap]

Report from where?

Iger said it himself on the CNBC interview. Chapek will be his direct report.

 

[RSoxNo1]

First 5 Days of Chapek:
1 - sell the resorts to Marriott
2 - hand over retail to WalMart
3 - lease out all dining to Darden
4 - permanently “park” the monorails
5 - slap an IP on everything

He's a Target guy, not WalMart.

 

[ThatMouse]

He's not going to cash out of his stock. He will do it overtime to diversify, but cashing out means he would have to pay taxes on all of it.