Rumor Hollywood insiders say there's growing tension at Disney as CEO Bob Chapek chafes at Bob Iger's 'long goodbye'

[mightynine]

No…but she should be hired as a. Consultant for about the next 2 weeks

You really didn't realize how much of an iron grip she kept on external Disney reporting until she was gone. I wonder how many negative stories she killed before they ever were published.

 

[Lilofan]

You really didn't realize how much of an iron grip she kept on external Disney reporting until she was gone. I wonder how many negative stories she killed before they ever were published.

That's a sign of a successful PR exec. Hide and keep the dirty laundry inside before it gets out or leaked to the media. Too bad she couldn't do damage control on John Skipper. Iger quickly met with former ESPN chief John Skipper and forced him to resign when Skipper's coke supplier threatened to rat out the ESPN chief.

 

[Sirwalterraleigh]

You really didn't realize how much of an iron grip she kept on external Disney reporting until she was gone. I wonder how many negative stories she killed before they ever were published.

She “strangled them in the crib”

 

[Tha Realest]

In the second, it also occurs to me that someone is pushing this narrative right now. Maybe multiple reporters are picking up on an issue that plenty of people within the company are happy to talk about off-the-record because Bob C really is that disliked internally. He certainly seems to have the capability to shoot himself in the foot without any help. Considering how good Bob I was at managing his image, though, the question does cross one's mind whether he's still doing that. I'm not sure what the point would be at this stage, though. Surely he's got better things to focus his time and energies on than making his successor look bad?

A few thoughts:

One, it is a sexy story, and reporters are finding those willing to spill the tea on this. Independent of the motivations of the leakers (more on that in a bit), there is a lot of newsworthiness about this (given Disney's outsized place in the culture, and its present position in the culture wars).

Two, Bob I has a titanic sense of self. He fashions himself as someone who could have been president. His autobiography was an attempt to put himself on equal footing with Steve Jobs and Walt Disney. He had much of Hollywood and Wall Street pining on his every word. He has a legacy he wants to uphold, and he gets to do that by reminding people of how much better things would be run if he was still there. Heck, Zenia Mucha is probably dropping this stuff just for fun.

Third, this backstabbing is a little disingenuous because, as the article noted, Bob C is really Bob I 2.0. Bob C appears to have been a loyal foot solider for what Bob I wanted to do. Much of what everyone's complaining about what Disney is doing now are things that were likely well into the works during Bob I's reign (such as Genie+) so all of these complaints shouldn't be placed completely at Bob C's feet.

 

[Sirwalterraleigh]

Remember that Bob Iger basically controls the Hollywood reporter…and abc for about the last 35 years…

 

[lazyboy97o]

A few thoughts:

One, it is a sexy story, and reporters are finding those willing to spill the tea on this. Independent of the motivations of the leakers (more on that in a bit), there is a lot of newsworthiness about this (given Disney's outsized place in the culture, and its present position in the culture wars).

Two, Bob I has a titanic sense of self. He fashions himself as someone who could have been president. His autobiography was an attempt to put himself on equal footing with Steve Jobs and Walt Disney. He had much of Hollywood and Wall Street pining on his every word. He has a legacy he wants to uphold, and he gets to do that by reminding people of how much better things would be run if he was still there. Heck, Zenia Mucha is probably dropping this stuff just for fun.

Third, this backstabbing is a little disingenuous because, as the article noted, Bob C is really Bob I 2.0. Bob C appears to have been a loyal foot solider for what Bob I wanted to do. Much of what everyone's complaining about what Disney is doing now are things that were likely well into the works during Bob I's reign (such as Genie+) so all of these complaints shouldn't be placed completely at Bob C's feet.

And most of Iger’s work was a continuation of Eisner’s later years. Strategic Planning was exiled, they were dispersed and promoted. Iger though is a master of his image who is able to be free of blame no matter his involvement.

 

[HauntedPirate]

Well he also overpumped those shares himself.

And as we know: the “market” is always right.

Any idea how many billions of buybacks Bob & Co threw out in the “Roaring 10s”??

I think I added up the numbers one time. The amount spent on stock buybacks from 2010-2019 was absolutely staggering. Outstripped that decade's CapEx by a wide margin.

 

[Lilofan]

And most of Iger’s work was a continuation of Eisner’s later years. Strategic Planning was exiled, they were dispersed and promoted. Iger though is a master of his image who is able to be free of blame no matter his involvement.

Successful trait of some in higher office, no surprise some wanted Iger to run for office.

 

[Sirwalterraleigh]

He announced his intention in April 2019? That news moves share price. They don't play fast and loose with it. It was in motion.

Arguably spiking a succession plan signaled 2 years might not have been the heroic move you seek. It could have caused significant reputational and likely financial harm to the firm ON TOP of the coming challenges COVID would pose.

It’s all a game…announcement/extension…

He played that game for 8 years.

 

[Sirwalterraleigh]

I think I added up the numbers one time. The amount spent on stock buybacks from 2010-2019 was absolutely staggering. Outstripped that decade's CapEx by a wide margin.

Yep…but I don’t want to let Lilo know where the “value” came from

 

[HauntedPirate]

Yep…but I don’t want to let Lilo know where the “value” came from

Thanks a lot, now I had to go add it up again. $48 billion in stock buybacks in the 2010's, until the Fox acquisition stopped them. I think CapEx in the same time period for the US was in the $30 billion range, which includes spending on cruise ships.

 

[Sirwalterraleigh]

Thanks a lot, now I had to go add it up again. $48 billion in stock buybacks in the 2010's, until the Fox acquisition stopped them. I think CapEx in the same time period for the US was in the $30 billion range, which includes spending on cruise ships.

Praets won’t like that…the truth In this case

Don’t you know that Bob spent all the money on the fans so they could be more magical?!?

 

[HauntedPirate]

Praets won’t like that…the truth In this case

Don’t you know that Bob spent all the money on the fans so they could be more magical?!?

It's not Bob - I ARE THE MAGIC!!! Current marketing said so.

Of course, current marketing also says the magic is calling, come enjoy the magic, et al. Their messaging all-around is so off. To me, that's evidence of a company that's going through a fair amount of dysfunction, and that starts at the top. Shocking.

 

[homerdance]

I think I added up the numbers one time. The amount spent on stock buybacks from 2010-2019 was absolutely staggering. Outstripped that decade's CapEx by a wide margin.

Stock buy backs are not always a bad thing, they are a tool to make the company less vulnerable to a take over and to raise the stock price. The problem with what Disney did is they did the stock buy backs only to re-issue the stock at a lower price as compensation to the top executives of the company, thus diluting any positive the buy backs did for the stock price and any average joe stock holder.

 

[Sirwalterraleigh]

Stock buy backs are not always a bad thing, they are a tool to make the company less vulnerable to a take over and to raise the stock price. The problem with what Disney did is they did the stock buy backs only to re-issue the stock at a lower price as compensation to the top executives of the company, thus diluting any positive the buy backs did for the stock price and any average joe stock holder.

So yeah…they’re not good…eh?

 

[Animaniac93-98]

And most of Iger’s work was a continuation of Eisner’s later years. Strategic Planning was exiled, they were dispersed and promoted. Iger though is a master of his image who is able to be free of blame no matter his involvement.

Free of blame, but glad to take the credit when things go right.

Surely Cars Land would have failed if not for those extra trees.

 

[MisterPenguin]

36 pages of thread on this and the only comment I can come up with to add is.....

That's not a comment for this thread.

It's a review.

 

[MisterPenguin]

In April however, the board unexpectedly extended Iger's mandate until the end of 2021, so he could guide Chapek and the company's senior management through the early COVID-19 pandemic.[57][58]

Surprising that the article that started all this didn't delve into Chapek's anger at the Board of Directors. They had to have approved of 'the mentoring' deal.

 

[Mmoore29]

It's shades of Eisner and Ovitz redux. Except that Chapek actually holds the power and it was about mere appearances.

At this rate Chapek may decide to not want to stick around past February 2023 if all this is piling up.

If Chapek does end up going, what happens to Kareem Daniel? And would the centralizing of P&L under him be undone by whoever would succeed Chapek?

 

[DVCakaCarlF]

It's shades of Eisner and Ovitz redux. Except that Chapek actually holds the power and it was about mere appearances.

At this rate Chapek may decide to not want to stick around past February 2023 if all this is piling up.

If Chapek does end up going, what happens to Kareem Daniel? And would the centralizing of P&L under him be undone by whoever would succeed Chapek?

Josh D?