Bob Iger had been working with Disney Executives to oust Bob Chapek for some time
In a recent Wall Street Journal article they share interesting new details behind the coup to oust Disney CEO Bob Chapek by the recently reappointed Bob Iger. Unknown to the public Bob Iger had been working with Disney executives for a while to remove former Disney CEO, Bob Chapek.
While Disney CEO Bob Chapek was leading the company and losing the confidence of fellow employees, cast members, and the board of directors his biggest critic was former CEO, Bob Iger.
Iger did not like the direction Chapek was taking the company and many fellow Disney Executives felt the same way, Disney CFO Christine McCarthy took matters into her own hands and worked with Iger closely to bring him back into the fold.
Recently During the 4th quarter earnings call, Chapek brushed over the fact that Disney had just lost $1.5 billion within Disney’s streaming division. As Disney’s stock began to plummet, more Disney executives grew frustrated with the direction Chapek was taking the Company.
In the time just before Iger’s return, major confrontations between the board members and Chapek had started to become frequent. Iger was waiting in the wings to return as CEO and when he received the call from the board of directors he gladly jumped at the chance to return to the helm and get Disney back on track.
While he has a mountain of work to do we are confident that he will right the wrongs of his predecessor. Bad public image, low park attendance, and the streaming services hemorrhaging money are just a few mountains he will have to climb in the months ahead.
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