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Here's the story -
"As the Walt Disney Co. learned earlier this week, an employee walkout is never a good look for a company.
While only an estimated 75-100 people participated in the protest at the Burbank-based studio, the contingent that came together to publicly criticize embattled CEO Bob Chapek’s silence in the face of Florida’s “Don’t Say Gay” bill spoke at a volume that far exceeded their numbers thanks to ample media coverage.
For Chapek, it was the most humbling moment yet after sustaining weeks of public-relations headaches of his own making. To top that off, an embarrassing CNBC story published Sunday detailed the tensions between Chapek and his predecessor, Bob Iger, who seems to be going out of his way to make his successor look bad.
A few months ago, it would have seemed the only thing Chapek really had to worry about was Disney+, which achieved an early success that would give him some breathing room. But the “Don’t Say Gay” controversy, which has brought Disney into conflict with Florida governor and likely presidential candidate Ron DeSantis, has become such a distracting sideshow Chapek has to be worried about his future. With his contract up next February, he simply has to put this behind him in order to protect his job.
How strange that Disney’s stellar Q1 results from Feb. 9 feel like a distant memory, a reflection of Wall Street’s what-have-you-done-for-me-lately mentality. Theme parks had rebounded so nicely, and yet even that seems like old news during a week when Shanghai Disneyland was forced to close due to COVID concerns.
That's how quickly the ground has shifted underneath Chapek, who is seeing a full-blown revolution unfolding, the likes of which neither he nor Iger ever faced.
That nothing like this ever happened on Iger's watch is indicative of how big the shoes are that Chapek is trying to fill. That CNBC's Alex Sherman laid bare the dysfunctional tension between these two men only makes things worse.
Neither Iger nor Chapek comes off pretty well in the article, which provides a sobering reminder that even at the highest levels of corporate America, the fragility of human egos undermines the best efforts at strategic focus.
Luckily for Chapek, he finally seems to be taking the right steps to remedy this bad situation. Admitting to the Disney rank and file that he erred and understands the impact is the very least of what the CEO must to do. He pledged to turn his mistake into a teachable moment, as “a catalyst for more meaningful and lasting change.”
That's what will make all the difference in terms of Chapek getting a chance to put this behind him. The company's employees will be watching to make sure Disney puts in place concrete plans to make real change for the LGBTQIA+ community.
But there will inevitably come a point when his critics won't feel he's gone far enough no matter what steps he takes next, and that will be the ultimate test for Chapek's future. He has a lot of damage to undo, but there is a path for him to get back on solid ground, even as he navigates very tricky territory.
A new reality is taking hold in corporate America, one with implications far beyond the media sector but especially felt in that industry: You can’t avoid taking a public stance on sensitive issues that impact any of your employees. Silence is no longer option, something Chapek has learned the hard way."
New VIP+ Analysis: A full-blown revolution is unfolding around company CEO Chapek, and his predecessor is doing nothing to run defense.
variety.com