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

[SensesFailed]

I mean, Iger has been wanting to step down for awhile now. He's still going to remain on in an executive role until his contract runs out. People can have their opinion on Chapek when it comes to parks, but money wise, it's good for the company. Granted, that might not coincide well with opinions of fans of the company, but the board and investors have a different idea for what they want.

 

[rteetz]

Not really any other “news” on the investor call. My DH suggested that maybe Iger is just really exhausted and facing the challenges, particularly from Coronavirus, they decided it was a good time to begin the transition.

I don't think coronavirus had much of anything to do with this.

 

[Mome Rath]

Yes, I'm aware of all that, but think of the honor of it, as a Disney fan and one who focuses on the history of everything, I'd want to be CEO of the whole company during MK's anniversary. lol

 

[Brianstl]

wish someone else would take care of that aspect.

Don't worry he won't be directing that aspect or any aspect.

 

[MommaBerd]

wish someone else would take care of that aspect.

He was pretty successful at ABC prior to the merger with TWDC. Maybe he wants to get back to what he enjoyed doing while “being there” for Chapek during the transition.

 

[0FF TO NEVERLAND]

I just want someone who cares about the Magic and Walt’s dream, and not just someone who wants to add marvel, not really care much about the parks and other aspects to take away from the magic, imo

 

[mercuryvenus]

Yeah, I don’t know how I feel about Marvel at Disney. Given Universal’s contract with Marvel, the presence at WDW will be limited, but Disneyland is another story.

 

[MommaBerd]

I don't think coronavirus had much of anything to do with this.

I just meant that closing 2 if not 3 parks due to coronavirus IS going to put a strain on the company and it’s financials, and it will be up to the CEO to figure out how to best operate under those conditions. I think that would be incredibly stressful...and probably NOT what he really wants to deal with.

 

[Brianstl]

Yes and no, Chapek still has some control over what gets through to be presents to Iger and the board. Iger doesn't oversee everything happening at parks and resorts.

No, but Iger set Chapek's budget. He controlled how much Chapek could spend. So when people talk about cuts to the plans at SWGE and entertainment, those gripes should have been directed at Iger. Especially when it comes to SWGE. Iger made it clear in his public statements that he believed they didn't need to do everything that was originally planned.

 

[Dis Dragon]

That's funny, I never took Iger as a "creative" type of guy. Eisner had said that Iger didn't have his imagination to create things like he did.

I hope the distraction of everything else takes Chapek's focus off the parks... Who knows if it was Iger or Chapek that was responsible for the push IP into the parks until they bleed mentality.

 

[jamos14]

Rebecca Campbell is my guess of next President of parks.

 

[rteetz]

I just want someone who cares about the Magic and Walt’s dream, and not just someone who wants to add marvel, not really care much about the parks and other aspects to take away from the magic, imo

The question would be what is Walt's dream? Epcot isn't what Walt dreamed up. Disney isn't what Walt had these days either. It's arguably the largest entertainment company in the world.

 

[rteetz]

Rebecca Campbell is my guess of next President of parks.

That would be an odd choice. She just got her first parks job as head of Disneyland.

 

[MikeNamez]

Have nothing planned to WDW in the next few years and this will definitely delay me even further. Prices are going to get even worse and the parks will suffer greatly. Thank goodness Epic Universe is coming!

 

[MommaBerd]

I just want someone who cares about the Magic and Walt’s dream, and not just someone who wants to add marvel, not really care much about the parks and other aspects to take away from the magic, imo

Like it or not, Disney needed more IPs to expand their consumer base, and particularly for the parks, to answer HP at Uni. But, I am very skeptical of Chapek’s ability to create magic.

 

[TwoMisfits]

I don't think coronavirus had much of anything to do with this.

It's pretty much the entire reason for it...
2 theme parks closed for months
China's entire movie theater network also closed (and probably to be followed by other countries)
ABDs needing to be canceled left and right
China's factory shutdowns (can you say toys and merchandise shortages)

It's gonna be an ugly quarter...and it seems like it will get worse the next one, not better...

It's not that corona has killed a lot of people...but it has killed a lot of business in Disney's core fields...Disney+ should help bail out some of the numbers, but it's gonna be ugly...

 

[rteetz]

That's funny, I never took Iger as a "creative" type of guy. I hope the distraction of everything else takes Chapek's focus off the parks... Who knows if it was Iger or Chapek that was responsible for the push IP into the parks until they bleed mentality.

It is interesting, but Iger has always liked the creative side. If you read his book he loved being in the executive role with ABC and being able to create amazing sports and television programming. He also has been involved in many of the large parks projects from when they started.

 

[Mome Rath]

Just FYI, Iger and Chapek are about to be interviewed on CNBC in a bit. (5:30est)

 

[Dis Dragon]

It is interesting, but Iger has always liked the creative side. If you read his book he loved being in the executive role with ABC and being able to create amazing sports and television programming. He also has been involved in many of the large parks projects from when they started.

I'll have to read his book sometime, I read the one on Eisner, so hey why not.

 

[mcd2745]

that is all.