Bob Iger, Disney CEO, Undermines Successor Bob Chapek: The WSJ
- According to the Wall Street Journal, Bob Iger, Disney CEO spent months undermining Bob Chapek’s successor.
- He was reportedly absent, but he kept an office and met with Chapek’s staff.
- In November, Disney’s board reappointed Iger as its CEO. This ends Chapek’s two-year tenure.
Bob Iger, the Disney CEO who returned to the job after a lengthy period of undermining Bob Chapek, was finally allowed to retake the top position at the request of senior executives. a Wall Street Journal reportThis article explains the power struggle between the men.
According to the report, Iger kept his office at the Burbank, California headquarters of the firm, despite his resignation as CEO in 2020. The Journal reported that he also met with Chapek’s staff, without inviting him. This was a source familiar with the events and cited current and former Disney executives.
Chapek was also reportedly undermined by Iger who told a friend that Chapek wasn’t up-to-the mark as a leader.
Disney’s board drama reinstated IgerLast month, Chapek’s leadership was causing dissatisfaction.
Claire Atkinson, an Insider reporter, reported that the decision came together in just a few days after a senior executive reached out to Iger. His return has been welcomed by employeesOne executive described it as a “pipe dream” and another said that it was a “pipe dream.” According to the Journal: Iger was also overwhelmed by Disneyland fans who wanted autographs and selfies earlier this month.
Other executives were considering quitting if Chapek was not retained as CEO, a top position at Disney. told InsiderHe expressed frustration with his leadership style and decision-making.
Chapek was formerly chairman for Walt Disney Parks and Resorts. consistently came under fire during his two-year tenure.
Park tickets and food prices increase outpaced inflation, and the firm began charging fees for previously free offerings such as specific shuttles to parks and FastPass services that allowed park attendees cut certain lines, Insider’s Samantha Delouya reported. The firm experienced its biggest one-day stock dropIt revealed a $1.3B loss on its streaming service the day following its most recent earnings call. Staff also had issues with a restructuring that deprived creative execs of power.
Insider reached out to Disney and Iger for comment, but they were unavailable at the time.
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