Chapek out - Iger back

[Timothy02359]

According to CNBC tonight.

Thank goodness!

 

[GAN]

So, they bring back Bob Iger the person responsible for this debacle ? The stock market will go back up temporarily. Art of Bad Deal Bob spent tons of money on all these deals that have not helped the bottom line. He bought Fox and didn’t get the sky networks which was the “crown jewel” of the deal. Star Wars is still dead after spending 4 billion to not give the fans what they want. Marvel is in big trouble. End game may have been properly named for the franchise. I guess China is happy that Bob is back!

Chairman of the Board Susan Arnold and Christine Mcarthy CFO need to go as well. Susan Arnold has no experience in any of the markets that Disney is in and to be blunt she was a leader in the demise. The same goes Christine McCarthy. If she worried about the financials of the organization instead of demeaning the guests the company wouldn’t be in this person.

Where do you get your information? I get it -you don’t like Iger either. But if you do some research you’ll find out how ridiculous that all sounds.

Im not sure what all the noise here is about regarding the Fox deal -maybe someone can fill me in? But the truth is, the Fox deal has nothing to do with today …it’s about the future. And every person in the business world understands this, which is why their stock has so much upside right now. When Disney needs the elements of Fox it does have, they’ll use them …I agree about Sky but they were never on the table and untouchable.

 

[PaladinButters]

Unfortunately none of that is going to happen. Chapek did everything they wanted to always do. Which includes Genie+ and getting rid of Magic Express. Iger is being brought back for one thing only and that is to fix the studios side of the company. The parks are doing well so they have no need to change things. IMO the damage has been done and bringing Iger back isn't going to change that.

Fresh news on Sunday night so a lot of people aren't even in on the discussion yet, but everywhere I look people are assuming this CEO swap means whatever parks-side change they personally hated the most is going to be instantly rolled back just in time for Christmas like.....I admire your optimism but that's not how this works.

 

[TwoMisfits]

Seems very pre-planned - he left a corporate mess for Chapek, who proceeded to be the bad guy but who also happened to be really bad in that bad guy role, and now he comes back and hopes to just win everyone back not changing a thing from the disasters Chapek himself left, but not making them worse...

 

[MouseEarsMom33]

I get this is tied to the quarterly financial performance, but I find it interesting this happened immediately after another park ticket increase this year and annual passes barely being sold for DL.

 

[Bovril82]

I don't think Iger has been brought back by the board make small changes to the parks like repealing Genie+

The parks are doing good (as far as the board is concerned - fans may feel differently).

He has been brought back to shake up studios (and Disney+). They are in a big old pickle.

That's where his focus will be. He only has 2 years. And actually I think his main interest lies in studios. Look at his social media over the last few years. Parks barely get a mention.

 

[gdrj]

IMO. This was driven by stock price and the performance of the other areas of teh Disney Company. The Parks are where they want them to be increased price, revenue, and profit. The positive is that Chapek was hated and nothing positive was ever going to happen with Parks. At least there can be a sliver of hope. Bob Iger was in charge when pricing was going up, alienating fans with policy, and cutting of the Walt feel of the Parks. I will wait and see what of any impact it has on Parks, and cast members.

Right now with 2 young grand children, I have limited interest in bring them, because the feel of the Parks has really been lost. My fondness is based on memories and not recent visits. I may visit, but will also seriously consider Universal and Legoland. The damage done (which Iger was part of), is losing a generation for the Fab 5 and vacations for families.

While never inexpensive, there always seemed to be value in the experience of Disney World. For the past number of years we would visit on average 4x a year. We would use fast pass go on a few rides, and spend $$ on merchandise and restauarants, as well special events. Maybe “new” guests drive more revenue, but how many new guests are influenced by family and friends and experience as children. Losing long term guests, those who would defend and not blink at subtle price increases, would still feel the magic, is not good for business.

 

[71 Truck]

Eisner fan actually!

I am also an Eisner fan
Most people don't know or remember but it was Michael Eisner, Frank Wells and Roy Disney who saved the company back in the 80s .

 

[4077]

The propellers may still get stuck in the seaweed, but hopefully they can steer clear of the shoals now…

 

[Henwen88]

He got Chapeck-ed! Much like so many of our families favorite Disney related things.

'XYZ-got chapeck-ed' was a phrase said multiple times on our last trip 2 weeks ago. Will be glad to have to not have to say that any longer!!!

 

[redboat45]

Yay that Chapek is gone but they should have gone back one more CEO!

 

[Liquidice]

IMO. This was driven by stock price and the performance of the other areas of teh Disney Company. The Parks are where they want them to be increased price, revenue, and profit. The positive is that Chapek was hated and nothing positive was ever going to happen with Parks. At least there can be a sliver of hope. Bob Iger was in charge when pricing was going up, alienating fans with policy, and cutting of the Walt feel of the Parks. I will wait and see what of any impact it has on Parks, and cast members.

Right now with 2 young grand children, I have limited interest in bring them, because the feel of the Parks has really been lost. My fondness is based on memories and not recent visits. I may visit, but will also seriously consider Universal and Legoland. The damage done (which Iger was part of), is losing a generation for the Fab 5 and vacations for families.

While never inexpensive, there always seemed to be value in the experience of Disney World. For the past number of years we would visit on average 4x a year. We would use fast pass go on a few rides, and spend $$ on merchandise and restauarants, as well special events. Maybe “new” guests drive more revenue, but how many new guests are influenced by family and friends and experience as children. Losing long term guests, those who would defend and not blink at subtle price increases, would still feel the magic, is not good for business.

Agree, when you pay more but feel like you're getting a good value it is a lot different than when you're paying more but getting less value for sure. Its what I've been saying since Chapek stated cutting perks that paying more isn't as big of a concern as having to pay more for less.

Park wise josh d'amaro should go too. He is the one that has implemented all the changes. Yet avoids criticism

I don't know for sure - but the way CNBC made it sound in this article https://www.cnbc.com/2022/03/20/disney-ceo-chapek-iger-falling-out.html Chapek ran Disney with all decisions being centralized to a very small inner circle while Iger let a lot of decision making go to each business. That was with DMED (Disney Media, Entertainment and Distribution) - so I don't know that it was true for DPEP (Disney Parks, Experiences and Products).

But if that was occurring at DPEP too, perhaps Josh didn't have a lot of decision making power - that is the one hope I have that maybe Josh will be given more freedom to run the parks as he sees fit.

 

[GAN]

Seems very pre-planned - he left a corporate mess for Chapek, who proceeded to be the bad guy but who also happened to be really bad in that bad guy role, and now he comes back and hopes to just win everyone back not changing a thing from the disasters Chapek himself left, but not making them worse...

What are the mess/disasters he left? I'm asking seriously. I mean... he left Pixar, Star Wars, Marvel, Fox(which no one seems to appreciate right now lol). I'd love to have those dropped in MY lap!

 

[Bovril82]

Iger was taking the parks down this road anyway. Chapek wasn't CEO for long enough to change direction that much.

The 'magic' years at the parks were Eisners' creation.

The biggest thing here for parks fans is who ends up taking over in 2 years. I might be completely wrong (I usually am), but that may be much more important than what Iger is going to do in the interim. I just don't think his focus will be parks.

 

[GAN]

But if that was occurring at DPEP too, perhaps Josh didn't have a lot of decision making power - that is the one hope I have that maybe Josh will be given more freedom to run the parks as he sees fit.

I think he definitely will ...Iger isn't a micro-manager and in a limited role for 2-years he isn't going to start now. I do think D'Amaro may have been too easy to implement whatever directives he was given. Who knows, maybe he figured Chapek was a short-timer and just towed the line to keep his job knowing it might be temporary. But he executed the plan and probably hauled in a good amount of cash for himself doing so -no one will accuse Chapek of not generating cash flow!

 

[lodgelady]

According to CNBC tonight.

 

[kbelle8995]

For me it's a company wide problem. but it does start at the top. Taking their customers for granted is never a good start. Keep in mind also Eisner was the one who started the price hikes.

Some were okay but now it's all the time. Yeah I know I know Supply and demand

 

[GAN]

The biggest thing here for parks fans is who ends up taking over in 2 years. I might be completely wrong (I usually am), but that may be much more important than what Iger is going to do in the interim. I just don't think his focus will be parks.

Less than a third of the business, Disney, is Parks. Assuming the appointment is from the Parks arm, he's likely to spend very little time. If the appointment is from a different area, then he'll probably commit 1/3 of their focus on Parks. Disney is a really big "business" and they need someone who can manage all of it, not just Parks because it's the most obvious(to all of us).

 

[SCWildcat04]

I think this is gonna be more to do with Disney studios rather than the parks as far as any changes being made....

It sucks because I wish there was some way price rollbacks would happen but the public has shown they will pay for everything (sans maybe the Galactic Cruiser to an extent), so the board would have his head if he messed up that easy revenue for the company...

 

[yorkieteacher]

I’m not sure it was a choice as much as they needed someone they knew could steer the ship and restore some confidence in the company while they figure out who can lead in the long term.

He’s there to train someone for the job- possibly Josh D’Amaro. I just feel he will be less about cutting service to save money in the parks. He seems to focus more on magic and less on money than Chapek did. Of course, Chapek seemed to never think of anything but money-