Disney Board Approached Bob Iger on Friday To Replace Bob Chapek
According to a report on CNBC the move to bring Bob Iger in happened rather quickly. Starting this past Friday Disney’s Board reached out to Iger, without any other serious candidates in mind to replace Chapek as CEO.
The Board decided to replace Bob Chapek after internal complaints about Chapek’s leadership with concerns following Disney’s most recent quarterly earnings report. One of the executives to express a lack of confidence in Chapek was Christine McCarthy, Disney’s chief financial officer.
Related – Walt Disney Stock Jumps 7% so far this morning as Bob Iger resumes Control as Walt Disney CEO
The changeover of the Bobs happened rather quickly on Sunday night and Chapek and his inner circle were caught off guard by the news as it started to break everywhere! One of the major pushbacks came when Bob Chapek sent out the memo last week about cost-cutting at Disney with layoffs and hiring freezes.
With Iger’s return, the Board’s overall goal is to stabilize the Walt Disney Company and give some “hope and optimism to the organization.”
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