food IS a theme park
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?
Bob Iger may have retired from Disney, but that doesn’t mean he’s living a quiet life away from the world. Quite the contrary.
Bob Iger ©Bloomberg
Iger had shared that when the “dream finally ends” he’d be keeping busy and that’s certainly what he’s done. Though he has called rumors of his return as Disney’s CEO “ridiculous,” Iger has become involved in another business focusing on the metaverse. Recently, Iger also sat down for an interview and he shared a number of opinions regarding the media and the news.
Lots of changes have been taking place in the Disney Company.
Magic Kingdom
We’ve seen a number of individuals leave, others change positions, the restructuring of divisions take place, and most recently the departure of former Disney CEO and executive chairman, Bob Iger. There have been rumors swirling, however, that Iger could return to the company in a BIG way. But just what does Iger himself have to say about it?
Bob Iger is a name many (if not most) Disney fans are likely very familiar with.
Bob Iger ©New York Post
Iger has had a long career in Disney in various roles, eventually serving for several years as the Company’s CEO and most recently as executive chairman of the Board of Directors. It has long been known that Iger would be stepping down from his role as chairman in 2021. Just yesterday, Iger’s replacement on the board was announced. And today, the Iger news continues!
Now that the Disney Parks are closed indefinitely, Disney has been preparing itself for what could be a very long road ahead.
Cinderella Castle at Magic Kingdom
And while the company’s major streams of revenue have been suffering, Disney is bolstering itself with other, more subtle moves these days.
Ever since the parks first closed, we have been trying to imagine the impact the closures will have on a powerhouse like Disney.
Cinderella Castle and Main Street USA in Disney World
We’ve seen execs taking pay cuts, Cast Members being furloughed, the company taking on new debt, and even purchasing a new parcel of land. To those of us on the outside, it appears as though Disney has been thoughtfully planning their moves not only to protect themselves financially but to ensure a future for the parks we love. Former Disney CEO, Bob Iger, spoke to how the latest events have impacted the company’s vision moving forward in a recent interview with Barron’s.
As Disney Parks around the world remain closed, we can’t help but wonder how things will be different when this is over.
©Disney
We’ve already speculated about what could be done to increase safety within the parks once they open. But now, it looks like Disney’s former CEO, Bob Iger, is confirming that one major safety check is being considered by Disney for the parks.
When Bob Iger suddenly announced he was stepping down from Disney’s Chief Executive Officer, the news came as a surprise to many.
Bob Iger
It’s true that we already knew Iger had plans to retire in 2021, but why was he calling it quits so early?
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