Disney has extended CEO Bob Chapek’s contract for three more years, the company announced Tuesday.

[Plutofan]

https://www.cnbc.com/2022/06/28/dis...-ceo-bob-chapeks-contract-by-three-years.html

 

[FredQc]

Deni 1, Pete 0.

 

[MICKIMINI]

No love for DVC...we've been abandoned.

 

[Mexacajun]

https://www.cnbc.com/2022/06/28/dis...-ceo-bob-chapeks-contract-by-three-years.html

 

[Peter Venkman]

Deni 1, Pete 0.

Chapek 1, Guests 0

 

[0FF TO NEVERLAND]

Kinda makes me sick to be honest but hey, what can you do.

We are the suckers who will keep paying and going to Disney no matter what. So as much as we complain on the boards and say we will stop going to Disney, the reality is...

 

[OKW Lover]

At least with the vote being unanimous we know who to vote against on the board during the next proxy season. Everybody!

 

[k5xs]

Absolutely amazing. Stock price has underperformed even in a down market. Several major gaffes. Guests are expressing dissatisfaction like at no other time I can recall.

SMH.

 

[johnnyr]

Of course they renewed him. If they didn’t the board would have to admit they made a mistake recommending him for the position. Happens all the time in small town politics.

 

[DaisyDuck001]

Kinda makes me sick to be honest but hey, what can you do.

We are the suckers who will keep paying and going to Disney no matter what. So as much as we complain on the boards and say we will stop going to Disney, the reality is...

Yeah, no. I finally quit going, until things get better there.

 

[DVacationer]

The board of directors need to go.

 

[dagored]

How can a board justify the renewal when stock plummeted from a high of 166 to 95? By the way, the stock dropped after the announcement.

 

[zumfelde]

Absolutely amazing. Stock price has underperformed even in a down market. Several major gaffes. Guests are expressing dissatisfaction like at no other time I can recall.

SMH.

Yes but everyone keeps going to WDW and keep giving them more and more money. The only way it stops is when it starts showing up in attendance. If a large number of people would take just a 1 year break from Disney we would see a change in a hurry. Imagine a 50% drop in attendance for 1 year he would be gone in a heartbeat.

 

[New Mouse]

Yes but everyone keeps going to WDW and keep giving them more and more money. The only way it stops is when it starts showing up in attendance.

Or their stock goes low enough where Apple or someone similar just buys them.

 

[Aprilshack]

Yes but everyone keeps going to WDW and keep giving them more and more money. The only way it stops is when it starts showing up in attendance.

Problem is the vast, vast majority of visitors have no idea of chapek is, don't see that quality has gone downhill or would care. They won't watch vlogs to keep up with what is going on. They are the once in a lifetime/blue moon visitors,unllike us on this board. If there is a resession i think there will be at least a slight downturn in numbers. Maybe the new expansion at Universal will knock Disney a bit? Who knows.

 

[Butch50]

Our kids made several trips to WDW growing up, and there was never a time that any of us didn't want to go again. My son and his wife went there on their honeymoon. Our daughter chose WDW for her senior trip after high school. Last August when our granddaughter was born it was less than a week until we started talking about her first trip.

The new company policies of charging more / delivering less and taking political stances had convinced my wife and me to put those plans for our granddaughter on hold. This Chapek news pretty much guarantees we won't be taking her for the next three years since I don't see either previously mentioned company policy changing as long as he's in charge. For us, this extension is a clear sign that the board does not want our business.

 

[Fauntleroy]

Or their stock goes low enough where Apple or someone similar just buys them.

It's almost to the point that I think this may be the strategy. It's like tanking the season for the 1st Pick in the NFL Draft...

 

[middlechild]

one of the most difficult challenges, as I age, is changing the frame of reference for most things. For example, a $100 cost is extravagant for me. However my 2 DS entering the work force after schooling think nothing of the spend. Their frame of reference to the value of dollars is different then mine.
Chapek has the mindset of this new frame of reference. Meaning he has been able to accept the new frame of reference and setting revenue targets for different segments based on this new reference. He is of the same age as I. As a result, all of us can clearly see that pushing Parks to adapt to the new reference is working, as the parks are as busy as ever. Further, we know Chapek shifted financial responsibility to a core few, perhaps to get around seasoned veterans who pushed back against escalating pricing?
I would suggest Iger left as his frame of reference did not allow to push Parks, other divisions, to adapt to the new reference of the value of a dollar among other things. He greatly expanded the base to increase profit, Chapek is reaping profit by grossly inflating pricing. And the board agrees there is more profit to reap by this strategy, apparently.

 

[xdan0920]

I just hope he has learned to keep Disney out of politics. Their current company wide direction is very bad for stockholders.

 

[ChipnDale79]

This is the future of Disney...there is no longer a Disney, like Roy to lead a campaign to oust a CEO like he did Ron Miller and Michael Eisner.