food IS a theme park
Bob Iger is back in control as The Walt Disney Company CEO, and fans have BIG expectations for his return.
©Alberto E. Rodriguez / Getty Images
We’ve been hearing from many Disney fans about all kinds of changes they hope will happen now that Iger is back, from the return of Magical Express to higher pay for Cast Members. Let’s take a look at the FIRST thing Bob Iger should do now that he’s the Disney CEO once again. [Read more…]
On Sunday, November 20th, The Walt Disney Company announced that Bob Iger would be taking over as CEO as Bob Chapek steps down from the position.
Magic Kingdom
A lot has happened in less than 48 hours since the announcement — stock prices are on the rise, celebrities and Disney fans have expressed their opinions on social media, Bob Iger’s salary has been revealed, and Bob Chapek’s “right-hand man” Kareem Daniel has also left the company. This change in CEO was effective immediately as of Sunday night (November 20th) and things are already moving so fast. So what should Iger’s first steps be as Disney’s CEO? Let’s dig into it.
Bob Iger is back as Disney’s CEO after Bob Chapek stepped down. Disney fans, investors, and shareholders all have high expectations for this shift in leadership, and Iger’s near-hero status to those groups might make his return more difficult than some expect.
Bob Iger
After disappointing streaming results in the last couple of quarters, execs are looking for someone to swoop in and make Disney+ profitable by the company’s promised deadline. Fans are looking for more “magic” and fewer price increases in the theme parks. Investors want to see strong results and profits from all aspects of the company. The Walt Disney Company Board of Directors wants a solid plan for Iger’s successor after his 2-year contract is up. Can Iger meet all of these expectations?
In a sudden turn of events, Bob Chapek is no longer Disney’s CEO and Bob Iger has returned to lead for 2 years.
©Disney
We’ve shared a look at Disney stock values following the news of Iger’s return, a look at why Disney replaced Chapek with Iger, and celebrities’ reactions to the news. But now we’ve got more details about the determination made before Chapek was removed and what his exit payment could look like.
On Sunday, November 20th, Disney announced that Bob Iger would be taking over the position of The Walt Disney Company CEO as Bob Chapek steps back.
©Reuters
Since the news broke, we’ve seen stock rise and learned why this decision was made when it was. Disney fans and celebrities have been sharing their opinions on social media as well. But now, Bob Iger’s salary and more details about the switch in CEOs has been released.
Bob Iger has taken over as CEO of The Walt Disney Company (again) after it was announced that Bob Chapek would no longer fill the role.
©CNBC
The news was about as stunning as Iger’s initial announcement that he would be stepping down in early 2020, just weeks before the COVID-19 pandemic would force Disney to halt theme park operations. The company’s Board of Directors had voted earlier in 2022 to extend Chapek’s by three years — after the then-CEO had already faced criticism for price increases in the parks, Annual Pass program changes, and even his political decisions regarding Disney’s response to Florida’s Parental Rights in Education (or “Don’t Say Gay” per critics) law. So, why was the decision to replace Chapek with Iger made now, and why so (seemingly) sudden?
Wall Street has shown its instant approval today for the moves The Walt Disney Company made on Sunday night — replacing Disney CEO Bob Chapek with former CEO Bob Iger. Disney stock jumped up in the early morning, pre-trading hours. Disney fans on social media are also speaking loudly in approval of the change.
©Reuters Everything old is new again … Disney CEO Bob Iger
But with all of the “huzzahs!” and stock purchases and general warmth around this move, fans are commenting about all the “changes” they are expecting to “bring the magic back” to Disney Parks. But should we really expect any significant change in the parks with Iger back in charge?
Bob Iger is back as Disney’s CEO and the Company is already being affected in a key way.
©Reuters
Late on Sunday night (on November 20th), the Disney Company announced that Bob Chapek (who took over the CEO role suddenly in 2020 and whose contract had recently been extended for several more years) had stepped down and Bob Iger would serve as the Disney CEO once again for 2 years. So just what has already changed at Disney following this news?
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. [Read more…]
As the Walt Disney Company reported its 4th quarter earnings last week, Disney’s stock price plunged to a 2-year low.
Bob Chapek
Days later, Disney announced a hiring freeze and “some small staff reductions” to slash costs. One of the biggest issues for Disney investors is Disney’s streaming video business and its mounting losses.
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