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

[nw6675]

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

Same. I cancelled our next trip last night. Even my DD10 said, "That's ok, Mama. Now we can go to the beach a bunch of times instead."

 

[Moliphino]

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

We used to be yearly visitors. My last trip was May 2021 and we don't have another planned because we hate all the changes they've made lately. I had wanted to go for the 50th, but now? Meh.

 

[dagored]

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

I mentioned in other posts that Apple could buy Disney with their cash on hand. I still believe that. Apple wants the video library and could sell the parks.

 

[Obi-J Kenobi]

This is news is like manna from heaven for DisBoards. We have years of more material to discuss, with Bob Chapek to lead the way.

Sincerely,

The Unofficial Bob Chapek Apologist

 

[jade1]

 

[CalOilerGurl]

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.

Exactly. They are trying to project stability in order to try to salvage the share price. The key is the market is smarter than that. He'll be outed in a year or less.

 

[OKW Lover]

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.

Two things wrong with this comment:
Disney is not small town
The board has an obligation to the shareholders to correct any mistakes.

 

[HokieRaven5]

I don’t see them attempting to remove or replace Chapek until 2025.

The parks aspect of the company doesn’t move the needle as much currently for investors.

The market currently more focused on the Disney+ opportunities and that is what Chapek will be tied to. If they achieve their subscriber goals and show profitability as well as maintaining the high per guest spending in the parks Chapek will be around beyond 2026.

 

[Liquidice]

Just leaving this here... some funny things said by Disney execs recently (starting with CFO Christina McCarthy and then into some from CEO Bob Chapek).

This is Disney's leadership team and how much they know about their own products. Unfortunately, this video was completely wrong about Chapek being in trouble - it was posted right before he got his 3-year contract

 

[Grumpy by Birth]

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

 

[juxtapose]

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.

Yeah, nothing will change if the parks/hotels are still packed, I mean why would they lower prices, or improve the experience, if they can "sell out" their hotels and parks almost every day of the year? I'm personally sitting here waiting for attendance to go down before we return, I don't mind paying more if it means less people but at this point that is not happening (I think we're close to a major reduction in travel soon but we will see).

 

[jujubiee4]

I knew it. They seem to be doubling down even through all the complaints.

I could see MAYBE one year because fallout of pandemic. But 3 years?? They must think/know
the money will continue to be rolling in for the next 2-3 years.

 

[DisneyDad1736]

I really thought because of how bad the stock price is doing and the recent bad PR, that they wouldn’t extend him. I feel like I’m going to be sick

 

[wabbott]

Just leaving this here... some funny things said by Disney execs recently (starting with CFO Christina McCarthy and then into some from CEO Bob Chapek).

This is Disney's leadership team and how much they know about their own products. Unfortunately, this video was completely wrong about Chapek being in trouble - it was posted right before he got his 3-year contract

Used to, middle managers had to put on CM uniforms every so often and work as cooks, or ride attendants, or whatever in the parks so as to stay in touch with guests. Is that still done?

 

[AvidDisReader]

Well nothing surprises me anymore, so not surprised-- just disappointed. I have been trying for several hours to try and understand the why. All I could come up with is that with a pending Recession coming, the board feels a bean counter is best to guide the company. Does anyone have any other reason why he would be kept, please let me know, thanks.

 

[wabbott]

Well nothing surprises me anymore, so not surprised-- just disappointed. I have been trying for several hours to try and understand the why. All I could come up with is that with a pending Recession coming, the board feels a bean counter is best to guide the company. Does anyone have any other reason why he would be kept, please let me know, thanks.

I had posited on another thread that it may be that those unhappy with Chapek may actually be a small minority and had used social media to leverage their voices all out of proportion. Just a thought.

 

[Sweettears]

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.

And its a whole lot easier to execute

 

[Kennywood]

I think it's now safe to say that Disney is now more concerned about the balance sheet and less about customer comment cards.

 

[New Mouse]

I mentioned in other posts that Apple could buy Disney with their cash on hand. I still believe that. Apple wants the video library and could sell the parks.

Ironically that sale would likely be to universal or maybe even Busch who are looking to rebrand while they phase out the whales.

 

[Jrb1979]

Ironically that sale would likely be to universal or maybe even Busch who are looking to rebrand while they phase out the whales.

Busch would be a great company to take over. They are very good at running parks day to day and also adding new attractions often. We may even get a shiny new B&M added to Magic Kingdom