Bob Chapek, the CEO of Disney, has been at the center of a lot of news lately.
Disney CEO Bob Chapek in Disney World on its 50th Anniversary
In the past few months, Chapek has been involved in the controversy surrounding Florida’s Parental Rights in Education Bill, which critics have called the “Don’t Say Gay Bill”, a decrease in Disney’s stock value, and the firing of a top Disney executive. However, it seems that CEO Bob Chapek isn’t going anywhere in the near future.
According to Business Insider, the Walt Disney Company Board will likely renew Bob Chapek’s contract as CEO. His current contract was set to end in February 2023, but following a statement of support after the firing of Peter Rice, one Disney higher-up thinks that Chapek’s contract will be renewed.
©Disney
The Disney Board is scheduled to have meetings in June and September, and one of these meetings is likely when Chapek’s contract will be discussed.
©Bloomberg
This comes immediately after the firing of Disney TV Executive, Peter Rice, due to “an ill fit with Disney’s corporate culture.” Rice was part of the Disney General Entertainment Content, which helped create over 300 shows for Disney’s various platforms, including ABC, Disney+, Hulu, and more.
Magic Kingdom
Recently, Disney executives commented on how inflation is impacting the theme parks. We also recently heard from Chapek about the Park Pass Reservation system — you can click here to see what he had to say about the system.
We’ll keep you updated on all the latest Disney news, so stay tuned to DFB for more.
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I was hoping for a new CEO that wasn’t all about the money and wanted to make Disney a fun place to visit again. I’m sorry to say this is going to be our last trip to Disney unless things start to change towards a more family friendly atmosphere. the changes in the last few years have made Disney more stressful and just not as much fun as it used to be. Disney is all about the money and not the people anymore. We used to go at least once a year with over 30 visits under our belt and will be sad to not continue going but its just not the same.
Very sad and very stupid! Bob Chapek was the worst decision Disney has made in decades, and as a result many of us have pulled support, sold our Disney stock and stopped our regular trips to the parks. We will not go back until he is gone…he has ruined every magical about the place. Walt and Roy Disney would be rolling in the graves to see what has been done to the parks and company in just the last 2 years.
As a shareholder I think the board of directors should be terminated along with Chapel for not looking out for investors best interest
Apparently you can do a horrible job at Disney and keep your job. At least senior management can. He’s horrible.
As a shareholder, I also voted against Bob Chapek for the Board of Directors. Renewing his contract will put the company into a bigger death spiral than it currently is in. What is the BoD thinking? For the good of the company…REPLACE HIM!!
Get rid of this guy, nothing but trouble. I have made my last trip to WDW this past April. Not renewing annual pass not going back.
Is the BoD afraid of Chapek and let him do what he wants to do. For a lot families he’s ruining the experience of Disney vacation. We use to go 2 or sometimes 3 times a year and had fun. We went last January and with all the changes and added new fees to almost everything I told my wife that they’ve have taken away the fun. We have been going to Disney over 40 years and I told my wife I’m afraid this might be our last time. Ever since Bob Chapek has taken over the magic kingdom is not the same. Did anyone read the petition that over 100,000 signatures to get rid of Chapek! We are shareholders and voted against Chapek for the BoD. Get rid of him!!!
I agree with all of the comments. Sadly, my family no longer has any desire to return to Disney World and will not do so until Mr. Chapek is gone and at least some of the magic has been returned to the parks. For now, we are planning on Aruba instead.
If enough people boycott the parks and Disney products, they just might get the message. Have to hit them where it will hurt. You are all right but nothing will change unless we are all willing to do something, anything that will send them a message.
So sad, this is shocking news but expected. “The Human world…it’s a mess”. My one happy place is now dying.
… as the stock tumbles down to $94/share.
In my comment above on Bob Chapek I made a comment on how many times we use go to WDW.I said we went 2 or 3 time a year. I forgot a little detail. Each time we go it’s for 2 weeks. That comes out to be 4 or 6 weeks a year. That’s 4 to 6 weeks of seeing how much Chapek has screwed thing up. Why did he take away fast passes? Who is the genius who came up Genie + ?
So many things have change and not for the good now that Chapek is in charge. The parks would be better off. The share holders would be better off. And of course the Magic Kingdom would become the happiest place on earth again. We will go back one more time to see if I’m getting value for my money or enjoy the time I spend there. One more thing, get rid Chapek.
Hey Disney Food Blog, I guess you only want your narrative, I do not see my comments.
Wassup with that?
Hi Greg! When comments are not approved it is for a number of reasons including, but not limited to insensitivity, inaccuracy, language, etc. All comments must be linguistically appropriate for a wide audience, and generally not inflammatory. This includes name-calling. Thank you.
This guy is horrible and I’m a Indiana University graduate, but first rule in business is to keep your customers happy in the happiness in the place that use to be the happiest, but no more. That board must be bunch of greedy uncaring about Disney’s vision of family vacations. He’s made it
unaffordable and my brother family and mine will bypass WDW until that CEO is gone cause he’s
ruined the Disney Park experience for our family.
That’s interesting since Bob Iger had a new CEO picked out. Letting Chapik renew is going a very bad idea.
The BoD is as bad as Chapek so it’s no wonder they will continue to support him. But everybody who says they are going back to Disney one more time, etc. are part of the problem. If you are so unhappy and hate everything that’s been done in the last few years, yet you still go back, you are sending them a thumbs up so nothing will change. Stop going NOW – not after the next trip. NOW.
I’m sorry to hear that his contract will be renewed. Disney is a mess under his supervision. People pay crazy money to go there and he could care less about their best interests. I’m exhausted from doing all the planning for my trips. It’s time consuming and frustrating at times. He doesn’t care. So so sad for those of us who have so many great memories of Disney before he showed up. He needs to go!!!
I don’t think that much stock should be put into the BoD’s statement of confidence for Chapek. With everything that has been going on of late with the Disney Co., the executives and the board had to have been getting tired of fielding questions about Chapek. They had to say *something*, and it is not like they were going to say anything negative about Chapek, that would just make things exponentially worse for the company as a whole. Of course they were going to say that they believe in him.
The best analogy I heard is that it is much like the vote of confidence a struggling NFL coach will receive from ownership. In those instances those coaches are generally given the boot by the end of the season barring a near-miraculous turn of fortune for the team.
I don’t know if it is the same case here (I hope it is), but I think it would be **real telling** if his contract does get renewed. There is ONE thing that Chapek has done well, and that is make the company money in spite of all of his gaffes and his ignoring of what makes Disney the company that it is. If his contract is renewed it will be huge tell that those in control value short-term financial gain, and only that.
I’m so saddened to hear that Chapek is staying. There’s no telling how much money he’s getting to run Disney into the ground. I can’t even watch DFB or any other WDW related videos anymore, because I just simply don’t care. And I’m the girl who moved to Orlando just for Disney, had a wall covered in ears and Loungeflys, would buy every spirit jersey and wear it all in pride the 100’s of times I’ve gone. But but by bit, the magic has slowly faded. Painting everything this boring and depressing blue and gray, hiking prices every other month, getting rid of fastpasses, creating park reservations, genie+ and lightening Lanes (that no one likes). I’ve even noticed the attitudes and lack of training for the Cast Members. They’re all robots and looked over worked and underpaid. You can see how stressed out they are and tell the morale is super low. I could truly go on and on, that’s just a fraction of what is wrong with the parks…don’t get me started on their franchises, movies and streaming services. The sort of message they’re putting out, etc. Well I’ve taken off my AP magnets and put away my ears. We will be going to Universal from now on. Cheaper, don’t have to plan a million years in advance and a lot more fun to just “go” and be immersed in the movies.
I bought shares in the company recently with the hope that I might one day have a chance to vote him out. Let’s see if he shows his face at D23.
Chapeks 2021 total compensation was 32 million. Do you think he cares about what any of us say?
Iger took home 45.9 million in 2021
This CEO has ruined the WDW experience for families. Believe me I represent many Smiths who will bypass Disney until that guy
is gone.
With a huge raise that we will have to pay for. As if the price increases they’ve already put in place aren’t emptying our wallets.
Get rid of Chepek now. He has destroyed the Disney image. His bean counting, money grabbing, and total disregard for the loyal fan experience has ruined what used to be the happiest, most magical place on Earth. Disney can save face with a new CEO. The new CEO could reinstate the magic and pixie dust by reversing Chepek’s disastrous changes. Bring back Magical Express, get rid of this horrible reservation system, and for goodness sake, put Genie+ back in the bottle. Chepek and his decision making minions need to go and now is the time. If he has to stay, give him a goal to bring the magic back and restore the Disney brand!