Core points of Gamers


Core points of Gamers

Why Disney’s Sudden Decision to Drop Bob Chapek as CEO Shocked Hollywood

Bob Iger’s sudden return as CEO was met with surprise in Hollywood, with an unnamed source expressing disbelief at how Chapek’s departure was handled.

Hollywood was reportedly surprised by the way Disney handled the return of Bob Iger and the departure of Bob Chapek as CEO of the Mouse House.

An anonymous source connected to Disney, who is not a fan of Chapek, said the hollywood reporter that it was “fucking crazy” how the company handled the transfer of power. “He could not say goodbye or say: ‘I have decided to resign,'” the person commented. THR later pointed out that Chapek had also unceremoniously fired a Disney executive: the president of entertainment and programming, Peter Rice. “I bet he broke Chapek’s record for firing Rice in seven minutes,” the source said. “they called [Chapek] and said, ‘You’re out. Our lawyers will call your lawyers. No statement from him, no comment from him, no grace. He’s fucking crazy.”

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Chapek officially stepped down as Disney CEO on November 20, marking the end of a short but turbulent reign. Initially, he was named Iger’s successor in February 2020, and Iger oversaw the transition of power as CEO through the end of 2021. During his brief time as CEO, Chapek drew the ire of fans and shareholders for his controversial decisions ranging from raising the price of Disney+ to his initial response to Florida’s “Don’t Say Gay” bill. Disney board members and creatives have reportedly been unhappy with Chapek’s leadership for some time and have been looking to replace him since last June.

bob iger is back

Iger is now back in the position he previously held for 15 years. “I am extremely optimistic about the future of this great company and am delighted to be asked by the Board to return as its CEO,” Iger said in a statement announcing his return. “Disney and its unparalleled brands and franchises hold a special place in the hearts of so many people around the world, especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be honored.” will be asked to return to lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through bold and unrivaled storytelling.” Following his triumphant return as CEO, Disney’s stock prices soared 6.30% to close at $97.58 per share.

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Iger was serving as president and chief operating officer of ABC when Disney acquired the company in 1995. He remained president of ABC until 1999, at which time he was named president of Walt Disney International. Iger was then quickly promoted to Chairman and Chief Operating Officer of The Walt Disney Company in 2000, a position he held for five years until he was chosen to replace Michael Eisner as CEO in 2005. During his initial 15-year tenure as CEO A Disney executive, Iger oversaw a number of major events for the company, including the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and the launch of its streaming service Disney+. His second term as CEO, which began on November 20, is currently contracted to end on December 31, 2024.

Font: the hollywood reporter

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