Bob Iger Steps Down as CEO, Chapek to Succeed Iger as CEO

[SJMajor67]

This all but confirms a second season of The Imagineering Story on Disney+ right? A guy can hope at least.

 

[rteetz]

This all but confirms a second season of The Imagineering Story on Disney+ right? A guy can hope at least.

Not enough time has passed since the last episode.

 

[Brianstl]

source?

Our trust fund’s investment manager says that was the most recent story he heard when I emailed him to ask him about it. He said not to take it as gospel and there were a few different stories making the rounds on what exactly happened and why.

 

[Brianstl]

Lol, have you seen APPL performance under Cook? The company has thrived and grown exponentially under his guidance.

Yeah, that comment was a little out there. If you own Disney you should be praying that Chapek performs as well as Cook. You will make a ton of money.

 

[soniam]

Lol, have you seen APPL performance under Cook? The company has thrived and grown exponentially under his guidance.

Total copy and paste error. I meant Sculley. As unimaginative Cook is, the company has been doing well under him.

 

[Brianstl]

Lol, have you seen APPL performance under Cook? The company has thrived and grown exponentially under his guidance.

Yeah, that comment was a little out there. If you own Disney you should be praying that Chapek performs as well as Cook. You will make a ton of money.

He's not gone though.

He’s gone for all intents and purposes he is gone. Disney board members are smart enough to know you can’t have two CEOs running a company. That is recipe for disaster.

 

[rteetz]

Yeah, that comment was a little out there. If you own Disney you should be praying that Chapek performs as well as Cook. You will make a ton of money.

He’s gone for all intents and purposes he is gone. Disney board members are smart enough to know you can’t have two CEOs running a company. That is recipe for disaster.

Tell that to the press releases and interviews they did today where they said Chapek would report to the board and Chairman Bob Iger. Chapek is going to run the day to day without much from Iger but any major decisions will still have Iger's hand and the board for that matter until Iger is gone. This is a transition period not a complete change. Its not automatically Chapek's Disney tomorrow.

 

[Kevin4321]

Surprised Kevin Mayer was not selected, especially with the success of D+.

Iger is now the Executive Chairman of the Board In addition to the Chairman of the Board. This is not a usual position for companies. Microsoft used it for Gates and Google for Schmidt. It tends to imply that the Exec Chairman will be more involved in the business than a regular Chairman of the Board. They seemed to stress this in the interviews as well. If the Board was unhappy with him he would not be allowed to remain in this capacity.

My guess is that he wanted to avoid a very public and drawn out competition for CEO like he went through. He made his decision on Chapek and executed it with incredible speed. Iger will likely still be very involved in major decisions and Chapek will not have the normal latitude that a CEO reporting a BOD without an Exec Chairman has. I suspect once the shock of the announcement wears off, we will find Disney continues on a consistent trajectory with less changes as opposed to more through 2021.

 

[shoreward]

https://www.travelweekly.com/Travel...-Bob-Iger-steps-down-in-surprise-announcement

 

[DisneyF4]

Rebecca Campbell is my guess of next President of parks.

I'm hoping it will eventually be Josh D'amaro. He just needs a few years in his new role as president of WDW, and he may be ready.

 

[OSUZorba]

Tell that to the press releases and interviews they did today where they said Chapek would report to the board and Chairman Bob Iger. Chapek is going to run the day to day without much from Iger but any major decisions will still have Iger's hand and the board for that matter until Iger is gone. This is a transition period not a complete change. Its not automatically Chapek's Disney tomorrow.

This is how all corporations work. The board is typically pretty hands off and rubber stamps major projects. Boeing's chairmen was just made the President/CEO with someone else being put in the chairmen role, so that kind of shows who is really the boss in that relationship.

Though @Kevin4321 made a good point above.

 

[Brianstl]

Tell that to the press releases and interviews they did today where they said Chapek would report to the board and Chairman Bob Iger. Chapek is going to run the day to day without much from Iger but any major decisions will still have Iger's hand and the board for that matter until Iger is gone. This is a transition period not a complete change. Its not automatically Chapek's Disney tomorrow.

If you want to believe that stuff they put out to calm investors go ahead. If that was the actual case this would not have been planned to happen as it did. The board would not have planned this to happen right before the annual meeting, but after the proxy statements had been sent out with ballots asking for approval of Iger’s compensation for the coming year.

 

[nick p]

Bob Chapek seems like a good fit I am excited to see the future

 

[Aurora0427]

Or hes worth half a billion dollars and really doesn't need the income.

Most people like Iger don’t give up money and power like that unless a. Burned out and need a break b. Something better came along or c. Forced out.

I don’t think he was forced out. I think the theory of a VP run is very interesting.

 

[Brianstl]

Most people like Iger don’t give up money and power like that unless a. Burned out and need a break b. Something better came along or c. Forced out.

I don’t think he was forced out. I think the theory of a VP run is very interesting.

You think he stepped down to be Bernie’s running mate?

 

[rteetz]

I'm hoping it will eventually be Josh D'amaro. He just needs a few years in his new role as president of WDW, and he may be ready.

I think while Josh would be great in the role he’s better suited as the hands on type person with wdw. He’s not the suit type to be bean counting in Burbank.

 

[rteetz]

If you want to believe that stuff they put out to calm investors go ahead. If that was the actual case this would not have been planned to happen as it did. The board would not have planned this to happen right before the annual meeting, but after the proxy statements had been sent out with ballots asking for approval of Iger’s compensation for the coming year.

I know of course some of it is fluff. The timing is the big surprise here. Everyone knew this would happen eventually. Why randomly today is the big question. The board had reportedly gone through several candidates. I do wonder how serious of an option Mayer was though.

 

[Aurora0427]

You think he stepped down to be Bernie’s running mate?

I have no idea why he stepped down. He’s mentioned a political run before, so who knows. This theory is being floated on the DLR board. It’s interesting. That’s all I’m saying.

I know guys like Iger, and walking away from all of that is tough. When you’re the guy in charge, everyone cares, your opinion matters, you are relevant.... once you retire eventually people move on. Legacy is very important to guys like Iger. All I’m saying is there’s a bigger story here and it’s kinda fun seeing all of the discussion. I just hope it’s not health issues.

 

[TsWade2]

If you guys don't want to give Bob Chapek a chance, fine. Go ahead! But, I'm not one of them. He deserves a chance. So, I'm giving him a chance whether you guys like it or not. Because I don't want to go ranting and be miserable and depressed like the people from Twitter or the whole internet. So there!

 

[SensesFailed]

Our trust fund’s investment manager says that was the most recent story he heard when I emailed him to ask him about it. He said not to take it as gospel and there were a few different stories making the rounds on what exactly happened and why.

So what were the other stories? I mean, if there were a few different stories that someone heard( and so on), why only share the one if it isn't even gospel?