NYTimes - The Palace Coup at the Magic Kingdom

[mkt]

Gift link: https://www.nytimes.com/2024/09/08/...e_code=1.JE4.cIMO.f9tyceEM46nA&smid=url-share

At 5 p.m. on Feb. 25, 2020, Bob Chapek and Bob Iger settled into matching directors’ chairs on the Disney studio lot for a series of live media interviews. The company had just shocked pretty much everybody by announcing that the little-known Mr. Chapek would be replacing the wildly popular Mr. Iger as chief executive.
The bald and stocky Mr. Chapek and the graying but still debonair Mr. Iger struck an immediate contrast, even though both were dressed in navy suits and open-collar white shirts and both were named Bob. To avoid confusion, some referred to them as “Bob One” and “Bob Two,” or “Big Bob” and “Little Bob” (even though Mr. Chapek was taller and heavier). And then there was “Handsome Bob” and “Boring Bob.”
In an interview with Julia Boorstin of CNBC, Mr. Chapek fawned over his predecessor. “I obviously have huge shoes to fill,” he said with wide eyes, hailing Mr. Iger’s “magic” running Disney. Mr. Iger’s 15-year tenure as chief executive had been so successful that he had considered running for president as a Democrat. Queen Elizabeth II knighted him just before she died.
Mr. Iger said he and Mr. Chapek had worked together “extremely well,” but in the next breath qualified that praise: “Actually, our senior management team has worked together quite well.”

Mr. Chapek listened in vain for something more effusive, more personal.

click here to read the rest of the article

 

[Animaniac93-98]

"wildly popular", "debonair", "handsome"

Fascinating how the article goes from showering Iger with praise, only to paint him as impulsive, greedy and egoistical. Chapek isn't shown much love either. Both are wrecked by what's been written.

"Mr. Iger told several people immediately afterward that he’d never been treated with more disrespect by anyone in his entire life." This quote in the context of the article says a lot about Iger. Who decided who to make who CEO again and when and how?

"She said Mr. Chapek “was shocked and surprised when told by Mr. Iger that he believed he could have his job back if and when he wanted it.” Yikes. Chapek was obviously the wrong choice, but what an attitude to have after deciding and telling everyone how this unusual succession plan was going to work.

"Here's here until he dies" No kidding.

 

[Magenta Panther]

"wildly popular", "debonair", "handsome"

Fascinating how the article goes from showering Iger with praise, only to paint him as impulsive, greedy and egoistical. Chapek isn't shown much love either. Both are wrecked by what's been written.

"Mr. Iger told several people immediately afterward that he’d never been treated with more disrespect by anyone in his entire life." This quote in the context of the article says a lot about Iger. Who decided who to make who CEO again and when and how?

"She said Mr. Chapek “was shocked and surprised when told by Mr. Iger that he believed he could have his job back if and when he wanted it.” Yikes. Chapek was obviously the wrong choice, but what an attitude to have after deciding and telling everyone how this unusual succession plan was going to work.

"Here's here until he dies" No kidding.

Aw, nuts, you guys beat me to it!

The gloves are off now. About time! Up in heaven, Walt is smiling...

 

[Magic Crush Drop]

I now believe in the puppet board theory of 2020-2023.

 

[Haymarket]

But his hopes were dashed when, in February 2015, Mr. Iger named Mr. Staggs, then the theme park chairman, as chief operating officer and presumptive heir. Around the same time, the board extended Mr. Iger’s contract two years, to 2018, with the expectation that Mr. Iger would spend much of that time grooming Mr. Staggs as his successor.

But Mr. Iger soured on him. He complained that Shanghai Disneyland, Mr. Staggs’s project, was behind schedule and over budget. Mr. Iger pushed out Mr. Staggs in April 2016.

I wish Iger had kept Tom Staggs as his successor.

 

[Magic Crush Drop]

I wish Iger had kept Tom Staggs as his successor.

It seems like from the article, Staggs was never going to be chose by Iger.

 

[Vegas Disney Fan]

Great read, no wonder Disney is struggling so much, it’s being ran by a bunch of childish adults more concerned with gossiping and backstabbing each other than running a succesful company.

I still think Chapek was a horrible choice as CEO but as more time elapses I feel less resentment towards him and more sympathy, every indication is he was undermined and set up to fail from the moment they gave him the top job (that just happened to still have him report to Iger).

 

[Stripes]

The NYT article is nearly identical to the CNBC article from Alex Sherman from a year ago, although the NYT article feels like it’s slightly more favorable towards Chapek than the CNBC article.

In any event, I’m glad Chapek’s gone and whether we get Walden or D’Amaro as CEO, I’m confident either one of them would be far better than Chapek.

Disney's wildest ride: Iger, Chapek and the making of an epic succession mess

Here's the inside story of the executive chaos at Disney over the past few years — and how it could shape the fate of the iconic entertainment company.

www.cnbc.com

 

[denyuntilcaught]

I still think Chapek was a horrible choice as CEO but as more time elapses I feel less resentment towards him and more sympathy, every indication is he was undermined and set up to fail from the moment they gave him the top job (that just happened to still have him report to Iger).

Same here. I do have sympathy for the guy - he was never going to succeed but I don't blame him for trying in the only capacity he knew how. I think history will be kinder on him than the present.

 

[Andrew C]

Good read. Yeah, a mess that Iger seems to have created himself...

And to add...the board itself.

 

[networkpro]

Good read. Yeah, a mess that Iger seems to have created himself...

Just another business with a personality cult problem.

 

[Magic Crush Drop]

Just another business with a personality cult problem.

Are we sure Disney is a normal company

 

[networkpro]

Are we sure Disney is a normal company

We can say that it is not run like a.normal company. P&L doesn't look good ? Let's just redefine some organizations so the numbers get muddled together. A series of interconnected slushfunds with feast and famine years.

 

[Bill in Atlanta]

Petting the hippo while the board is freaking out over a few pennies in EPS sounds exactly like something... dare I say... Walt himself would have done.

Chapek/Iger reminds me a lot of Conan/Leno. It's like, if you're the old guy and it's in your heart to stay until they force you out, then just do that. Don't do the fake retirement/undermine the next guy in line. Because now you've tarnished your own name and ruined the other guy's big chance. Chapek isn't blameless here but the guy never had a chance.