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

[Q-man]

Haven't read all 7 pages but these sudden announcements are often health related. Either Iger or someone very dear to him.

Very sad to see merchandise tie-in Chapek be promoted to the top.

 

[Shir Kahn]

I volunteer to be a replacement worker at WDW while everyone is recovering. I'll be fine if they just want to put me up at Golden Oaks for a few months. It'll be rough, but I'll manage somehow.

 

[PortMickey]

Here is the interview with both of them:

https://www.cnbc.com/video/2020/02/25/disneys-bob-iger-i-want-to-spend-more-time-on-creative.html

 

[tlmadden73]

Chapek at the helm of the whole thing? EVEN MORE cost cutting and nickel and diming at the parks ... more sequels in the theatres and merchandise .. merchandise .. merchandise.

Unlike under Eisner or Iger, I don't see any growth coming out of Chapek -- he'll just overmilk the cows that Iger created for him (Marvel, Fox, Lucasfilm, Pixar) ..

*sigh*

 

[soniam]

Wow! Who knew that Chapek was a sugar sauce salesman (he worked at Heinz). The last time a big company had a sugary salesman come in, things didn't go well (Apple and Tim Cook). Hopefully, Chapek decides to retire early or leave. Maybe Josh D'amaro will be groomed and ready soon.

EDIT: Copy and paste error. I meant Sculley

 

[goofeyken]

Interesting that Q had a comment on this eh?
Looks like Bob might have some big issues...
Seems rampant in the Disney co.
Really makes me question where I am spending my money.

 

[Brianstl]

Chapek at the helm of the whole thing? EVEN MORE cost cutting and nickel and diming at the parks ... more sequels in the theatres and merchandise .. merchandise .. merchandise.

Unlike under Eisner or Iger, I don't see any growth coming out of Chapek -- he'll just overmilk the cows that Iger created for him (Marvel, Fox, Lucasfilm, Pixar) ..

*sigh*

Who do you think gave Chapek the budget he had to work with? The nickel and diming was do to what Chapek was allowed to spend.

 

[Brianstl]

Supposedly there was an emergency board of directors meeting earlier today that resulted in a no confidence vote for Iger. No word on what caused the meeting to be called.

 

[The Pho]

Supposedly there was an emergency board of directors meeting earlier today that resulted in a no confidence vote for Iger. No word on what caused the meeting to be called.

He got Palpatined!

 

[Farro]

He got Palpatined!

I love when new verbs are created.

 

[clarker99]

Wow! Who knew that Chapek was a sugar sauce salesman (he worked at Heinz). The last time a big company had a sugary salesman come in, things didn't go well (Apple and Tim Cook). Hopefully, Chapek decides to retire early or leave. Maybe Josh D'amaro will be groomed and ready soon.

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

Supposedly there was an emergency board of directors meeting earlier today that resulted in a no confidence vote for Iger. No word on what caused the meeting to be called.

source?

 

[Planogirl]

Iger out so suddenly? I wonder why...

Chapek replacing him is sad but not unexpected. I'm glad that we have mostly moved on.

 

[rteetz]

Iger out so suddenly? I wonder why...

Chapek replacing him is sad but not unexpected. I'm glad that we have mostly moved on.

He's not gone though.

 

[Lothlórien]

Man I don't like that move at all.

We have gone from bad to worse. Or bad to horrible as some are saying.

 

[Lothlórien]

Gosh I hope so. I never loved Iger, but I am 100% not not not a Chapek fan. I have a hard time picturing this stiff polo shirt as the face of the company.

I believe your feelings fit the majority.

 

[tlmadden73]

Supposedly there was an emergency board of directors meeting earlier today that resulted in a no confidence vote for Iger. No word on what caused the meeting to be called.

Interesting .. lots of speculation to be had. Is he being blamed for the Star Wars "mess" (where a lot of the fan base just lost interest despite pumping out 5 movies in 5 years)? Is Disney+ under performing (I mean it is still so new .. I wouldn't think that would be it)? Is the Fox merger not going as planned?
Is the parks having attendance issues? (doesn't seem like it)
I wouldn't think any of those things would call for an "immediate" replacement .. *shrug*

 

[TraderSamWDW]

As a Disney lover I was ok with Eiger. As a shareholder I was thrilled with him. (50 to 200+ billion in market cap under him is not too shabby)

Now I am neither ok nor thrilled.

Please oh Please let me be wrong about this.

But, I am prepping myself to start having to pay for Ketchup at Casey's Corner.

 

[Lothlórien]

What if this virus spreads through the U.S. and Disneyland and Walt Disney World have to closed down for months? I certainly hope that doesn't happen but what a disaster that would be for the company.

I would not worry about that. What you are getting on CNN, MSNBC, CBS, ABC, etc regarding Coronavirus lacks facts and truth.

Furthermore, anytime something comes around it suddenly is perpetuated as a pandemic and everybody is going to get sick and die. Like Ebola. CDC estimates that the flu has resulted in something between 12,000 – 61,000 deaths annually since 2010.

People were afraid to go Disneyland for a while last year over a few cases of the measles. After all the hoopla and nasty comments, turned out to be somebody who came from another country and nobody else got sick. In 2015 most of the people who got it were from Mexico and others from Canada. Only a whole 147 cases.

I do not say all of this to scold and I did not mean to go off-topic. Just that we have modern medicine in the US and the media always makes mountains out of molehills. I cannot see WDW or DLR being shut down unless we get to a place where much of the country is experiencing the same.

 

[Lothlórien]

As a Disney lover I was ok with Eiger. As a shareholder I was thrilled with him. (50 to 200+ billion in market cap under him is not too shabby)

Now I am neither ok nor thrilled.

Please oh Please let me be wrong about this.

But, I am prepping myself to start having to pay for Ketchup at Casey's Corner.

I saw in a group, months ago, where people were saying if he was promoted to CEO (that was the gut feeling), they would be selling their DVC as visiting would no longer be affordable after he has been in the role for about a year.

 

[clarker99]

Interesting .. lots of speculation to be had. Is he being blamed for the Star Wars "mess" (where a lot of the fan base just lost interest despite pumping out 5 movies in 5 years)? Is Disney+ under performing (I mean it is still so new .. I wouldn't think that would be it)? Is the Fox merger not going as planned?
Is the parks having attendance issues? (doesn't seem like it)
I wouldn't think any of those things would call for an "immediate" replacement .. *shrug*

Star Wars: 4 out 5 movies made over $1billion. The Madalorian was a runaway hit.
disney+: 30 million subs... ahead of expectation.
fox merger: nowhere near enough time.
parks: still cash cows

Disney has never ever been more healthy financially.

Would be very, very shocked if Iger left by anything other than under his own terms.