Disney CEO Bob Chapek will step down from his position, and former CEO Bob Iger will take his place.
Bob Chapek ©Disney
The announcement came late Sunday, November 20th, from the Disney Board of Directors.
The Walt Disney Company has announced that Bob Iger (who formerly led Disney as the CEO) will return as CEO, effective immediately. Disney thanked Chapek for “his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic.”
©Disney || Bob Chapek
Disney made the announcement on Twitter:
Robert A. Iger named Chief Executive Officer of The Walt Disney Company: https://t.co/qvG1ZB8cvR pic.twitter.com/nV41l8OMEW
— Walt Disney Company (@WaltDisneyCo) November 21, 2022
“The Walt Disney Company announced today that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position.”
©Reuters
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said Susan Arnold, Chairman of the Board. “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.”
“Mr. Iger has the deep respect of Disney’s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide–all of which will allow for a seamless transition of leadership,” she said.
“The position of Chairman of the Board remains unchanged, with Ms. Arnold serving in that capacity.”
Bob Iger ©New York Post
“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” Mr. Iger said. “Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe—most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling.”
“During his 15 years as CEO, from 2005 to 2020, Mr. Iger helped build Disney into one of the world’s most successful and admired media and entertainment companies with a strategic vision focused on creative excellence, technological innovation and international growth. He expanded on Disney’s legacy of unparalleled storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and increased the Company’s market capitalization fivefold during his time as CEO. Mr. Iger continued to direct Disney’s creative endeavors until his departure as Executive Chairman last December, and the Company’s robust pipeline of content is a testament to his leadership and vision.”
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Yay!!!!!!!!!!
This is great news. I don’t think Chapek understood that the Disney business model was always about making the Magic, not price gouging just because you can. Trust me, we’ll spend the money, we don’t need anyone’s help. As fan and a stock holder, this is awesome news.
Mr. Iger, bring the Magic.
Oh, and the dining plan. Not kidding, that needs to get done asap. I’ll give you to the end of the day tomorrow.
P.s. get rid of Genie or we’ll call Eisner.
Finally !!!
Mr Ikler is the shadow of Walt Disney…..he always walked in Walt’s shoes….it’s great to have him back!!!!!!
Let us hope Bob Iger can right the ship and it is not too late. Not only for the share holders, but for the most important people, the loyal Disney guest and fans.
First on the agenda. Eliminate park reservations system (both the single day tickets and the one for pass members). Second, dump Genie+ and bring back FastPass.. Third, stop the price gouging and all the Nickel and Diming Chapek instituted these last few years. Can’t do much about the higher prices as it is due to inflation, but give it rest for now. Finally, have a huge celebration at the parks in honor of firing Chapek (I would gladly pay for that special event). 🙂
Have a “Magical Day” my Disney friends. Today is a good day.
About time!
Good news for a change. maybe I will visit again.
This is a good day for Disney. Welcome back Bob Iger. 👍🥰
This makes me so happy! My family and I have been loyal disney goers for a couple of decades but have had no desire to go lately with all the changes. I felt like Disney has been going downhill since Chapek took over. I hope Iger can save it and restore some of the magic lost.
This is crazy !!! Better I hope !!! Definitely exciting lol
There is a GOD. A return to normalcy. Please Mr. Iger
Bring back the FAST PASS
Eliminate the Genie Plus
Eliminate the Lightening Lane
Discount Hotel Room Rates
Take a close look at price increases under Chapek
Thanks Mr . Iger for returning. I have faith that YOU will do the right thing for LOYAL DISNEY GUESTS.
Mr. Iger, Walt thanks you also.
I am so, so happy to hear this! As a long time resident pass holder, the last 2 years at the parks have gotten worse and worse to the point where we almost didn’t renew this year. I used to feel like a valued guest whenever I was at the parks, but these days I feel like I’m nothing more than a dollar sign to them. I really hope that he changes the parks back to being fun again and caring about the guests.
Hoping he brings back the Disney Dining Plan; 3 free ride selection PRIOR to arrival date; No DG+ rather have DG (free) with somewhat same functionality, meaning no 120 minute rule and you can ride something more than ONCE; drop prices on packages, parking, merchandise, food, memory maker….etc….
Great news! Not too many people were happy with Chapek. I know I wasn’t. I guess now we wait to see what changes and revisions Iger will make. I do believe this is a step in the right direction for all involved.
I’m happy Chapek is gone but not thrilled Iger is back. Most of the magic started disappearing under his watch when all the nickel and diming started and the free perks started disappearing. I was hoping for someone entirely new. Shoot, I’d have been happy if Eisner had returned. There was still magic when he was at the helm.
Great news..now maybe iger can bring some of the magic feeling back to disney as well
Best news I’ve heard in a while! Best wishes to Iger in cleaning the mess Chepak left.
This is some of the best news I’ve heard in a while!
Couldn’t be better news. Bob Chapek has not continued Walt Disney’s direction of leadership in running a family based, affordable, vacation. He has turned it into an unobtainable dream for many leaving so many feeling heartbroken and hopeless with the thought of never being able to afford a family vacation to Disney no matter how far in advance it’s planned.
YES!!! Chapek stole the Disney magic that I had held for my entire life. Can’t express how glad I am to see him gone!! Hope Disney can be returned to the magical place it once was.
Cheering everywhere. So glad Iger was willing to step up and do this
Hi AJ,
So happy to hear this!!!
We won’t mi Bob cheapak for any reason.
Welcome Bob Iger!!!
BOY, DID WE MISS YOU!!!
It’s been a long, long year. Welcome back, Bob!
…or two years, but it feels like long ago in a land far, far away.
WOW!!! Was not expecting to get all this news suddenly. I was figuring Chapek was in for the long haul after the board let him stay on.
Thank goodness! Maybe the daily price hikes of the Disney Parks will end. Most all are getting priced out. As a stock holder and DVC member this is welcomed news.
Maybe he’ll lower prices!!
Hooray, cast members and loyal guests rejoice, Bob C. Is gone…. However, we now have a simular situation to the American people…do you really want the replacement, no doubt, Bob Iger did a lot to bring Disney into the corporate world of big business on a global scale, but let’s keep in mind, much of he success over his 15 years with the company came from the Michael Eisner/Frank Wells partnership. Disney Imagineering was at it zenith during Eisner’s era. Everything that Iger accomplished during his term was either imagined or started during the 1980’s/1990’s, the Eisney years. Other than the Magic Band and alot of behind the scenes shuffling of the deck, Iger brought an expansion into worldwide operations for Disney, Eisner and Wells created the AK, Studios, Cruise line, and a market leadership like no other. Chepak is gone, Iger coming back, one can only holp that he passes the gavel of leadership quickly as the loyal Disney Fan and DVC family are struggling.
By the way, we Disney fans need an Eisner/Wells team to return to the company it once was and closer to Walt’s dream.
Better, BUT Not by Much !
My family is booked for September 2023 and I was thrilled to hear this news! It gives me much more confidence that we’ll have an epic vacation.
Great Chapek decision.
I was about to find other places to vacation.
I read that last night in the general news and sent the information to a fellow Disney fan withe simple comment of yayyyyyyyyy!!!!
Now I’m realistic at what difference this will make as Mr Chapek didn’t make all these decisions on his own but how they are implemented along with delivery will be different..I hope.
I was there last week, stunned to see an “Empty” park but it was designated as full. To learn that profits are down and that cast members would be impacted was bizarre and not surprising as if you don’t have a lot of people you don’t need a lot of cast members 🤷♀️. When someone like me starts to think that universal is a better option, not a fan at all of that place, there’s a big problem. It’s become too stressful, too complicated to go to the park along with yes too expensive they clearly need to reevaluate their game plan. It will be interesting how Mr Iger will deal with this mess.
‘Bout time…good ridance Chapek!
Mr. Iger, please bring back the magic!
At this point all I can say is yippee. Time will tell if Disney will come back to it roots as a family friendly park dedicated to wholesome entertainment. With this change of direction I can see bringing my grandchildren to Disney parks.
My Disney Heart & Spirit feels lifted!
Yay! Chapek is out! Hopefully Disney can heal from his destruction!
What a headline to wake up to this morning! Right move.
Welcome back Bob Iger! I just hope you return Disney back so something we all can recognize. Instead of all the nickel and diming that has been going on. I truly hope that everything becomes recognizable again in regards to booking the trip and having a great time.
Looks like Kathleen Kennedy’s job is safe again.
That is fantastic news!!!!
Thanks for starting my day off on a high note!!!!
I think I’ll buy Disney stock again.
A qualified thank you until we actually see things go back to the way they were. Lets hope Mr. Iger gets things back on track, especially at Walt Disney World
Welcome Back Mr Iger. You’ve got much work to do to correct this mess. After many years of being DVC and AP members, we were ready to quit. I think we now have a good chance of staying members with you at the helm, again. Thanks for returning. All our Best
Now that Iger is replacing chapek we don’t know if that will reverse the things that he did that ruined Disney with the out rages things he did as taking a way fast passes and Disney express and the fact that had to pay to get onto Disney grounds and then pay for attractions and had to make park reservations to get into Disney and my family had been coming to Disney world since there was only the magic kingdom and have Been annual pass holders for over 30 r 35 years and live out of state we r one of the many faithful that have been going only to Disney for a vacation and chapek viewed us as not important and he has done the Cast members very wrong and need to pay them more and respect the fact that they work very hard to make guest have a great time we will have to c is Iger will reverse the money grabbing things he has done and the the other powers that b and stock holders r not the ones that have been keeping Disney n business it has been the people that go there and if he doesn’t then no reason to ever go there again and this will only stop 🛑 if people refuse to put up with this greedy stuff chapek did and will Iger b any better cause if not why go there the price of living is so out of control and people r trying to survive
It’s an early Christmas! Welcome back Mr. Iger. Good riddance Mr. Chapek!
about time!
Well, THIS is a reason to have a Happy Thanksgiving.! Perhaps a bit of sanity will return to the running of Disney’s most important assets– the PARKS! And the Cast members!
This is good news?? I’ll believe it when I see changes for the better.
Best news ever!!
Wow, just wow! So the board just resigned Chapek to a new three year contract and then canned him. Totally irresponsible. I bet they still have to pay him a ridiculous salary for doing nothing. Unbelievable. The entire board should resign too. Stock holder class action suit maybe in the works. Disney is a mess right now.