Bob Iger talks about his return to Disney, choosing Chapek as CEO, and how long he may stay in the job

By WDWMAGIC Staff · Thursday February 9, 2023 10:23am ET · "The Walt Disney Company"
Bob Iger talks about his return to Disney, choosing Chapek as CEO, and how long he may stay in the job

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Bob Iger

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Disney CEO Bob Iger appeared on CNBC this morning to discuss the recently announced restructuring of Disney, and the circumstances around his return to the top job at the company.

Talking about returning to Disney, Iger said he has no plans to stay as CEO beyond his two-year contract. Bob also said that he felt a "sense of obligation" to return to the company during a period of transformation.

Asked about the appointment and firing of Chapek, Iger said "We thought we made the right decision when we chose Bob [Chapek] in 2020. The board decided in November he wasn't the right person for the job and made a change."

Bob also said that "there were no surprises" on the state of the company that he found on his return. He continued that he "was aware of some of the issues the company was dealing with."

You can watch a segment from the interview below.

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↩ replying to Elijah Abrams
If there was a worthy successor.

The hyperbole in the slides posted above by Penguin illustrates they don’t have any intention in restoring value or customer satisfaction. They’re trying to appease shareholders (many of whom are as clueless about the legacy of the parks as management is) whilst rolling back on carefully selected items that are of little or no expense to the bottom line in an attempt to say “we’re listening”.
↩ replying to marni1971
That’s how I read into all of that yesterday as well. Their main focus is their stock price and making shareholders happy again, not their customers.
↩ replying to GhostHost1000
I think their order of priority is:

1) self-preservation in fighting off proxy battle
2) maximizing shareholder value
3) making the right people happy
4) making their customers happy
↩ replying to EPCOT-O.G.
I think you nailed it

By the time they get to 4, it’s going to be even more difficult to do that I’m afraid
↩ replying to marni1971
I think it’s even worse. The D+ stuff* has been so disruptive both internally and externally that even if they really wanted to do something in the parks they’re hamstrung.

* I include the Fox acquisition as it had the dual component of both expanding subscriber possibilities (Star, etc) and reams of content (as yet underutilized)
Remember when cast members were crying and people were chanting Iger's name on Main Street like he was the savior? Good times.
↩ replying to LSLS
Yep and most of us here see Iger for what he is.

Chapek was bad, but also hand picked by Iger. Iger set him up, left when he knew it was going to get bad, came back after chapek is sent packing, some pixie dusters and cast members go nuts and cry happy tears thinking Disney is saved, and now iger can throw Chapek under the bus for all the stupid things Iger setup and/or had in the works before he left. Brilliant…until it catches back up to him.
↩ replying to LSLS
Some fail to recall during the 2009 layoffs where many levels of management and office / project staff were laid off, Iger was in charge.
↩ replying to DCBaker
Huh, almost like he was not looking to put customers first (or restore the magic or whatever he labeled it as), he just wanted the dividends and huge cuts.
Coming back to this thread after taking a day off...
↩ replying to LSLS
The parks are doing well. When layoffs are announced and the basic concept is "the parks are safe," that should absolutely be considered a win for parks cast members.
One of the proxy’s desires was to see / hear a clear succession plan. Other than “I don’t think I’ll be here in two years,” and details on that? No shortage of successors have been mentioned but we haven’t seen/heard anything about concrete plans. Is history repeating itself?
↩ replying to DCBaker
It's over because Iger said dividend checks will be returning.