London Daily

Focus on the big picture.
Friday, Mar 31, 2023

Inside the Disney drama as CEO Bob Iger returns, replacing protege Bob Chapek

Inside the Disney drama as CEO Bob Iger returns, replacing protege Bob Chapek

Bob Iger is back as Disney's CEO, replacing protege Bob Chapek after a brief, rocky tenure. Here's how the stunning ouster came about and what's next.

In one of the most dramatic reversals in corporate history, the Walt Disney Co. board reinstated Bob Iger as CEO in November, ousting his predecessor Bob Chapek.

The return of Iger, who had previously served as CEO for 15 years before Chapek took over, set off a flood of Wall Street investor notes focused on the challenges facing Iger — analysts and Hollywood industry observers also scrutinized Chapek's rocky tenure and his selection as CEO. 

Here's a rundown of what led to the change at the top of one of America's most beloved companies and the challenges that lie ahead for Iger in what was announced to be a two-year tenure, from finding a new successor to fixing Disney's streaming business and repairing the company's relationships with Hollywood.


What went wrong under Chapek and how Iger's return happened


Iger's return cut short the tenure of his protege Bob Chapek, who had spent less than three years in the role. Insider reported that Disney executives had complained to the company's board about Chapek's leadership.

Chapek's fumbles were wide-ranging. Disney had just reported a $1.5 billion loss in its streaming business on a November 8 earnings call. Earlier in the year, the company faced backlash from customers over price increases at its theme parks. Separately, employees walked out in protest over Disney's reluctance to take a strong stance against Florida's "Don't Say Gay" law. 

Chapek had also alienated creative execs and Hollywood by taking content budgets away from creative execs at Disney and by releasing movies on streaming at the same time as in theaters during the pandemic; the move resulted in a high-profile legal spat with Scarlett Johansson and her reps.

The company also faced pressure from activist investors like Daniel Loeb to cut costs and make big strategy changes. 

It didn't help that Chapek, while he was considered an effective operator, was also seen as less charismatic and communicative than his popular predecessor. Wall Street faulted him for waiting until after the 3Q earnings call to announce that layoffs were planned, for example.


Why Iger's top priority will be a solid succession plan


Iger's return reassured employees who were familiar with the Disney vet but also drew criticism, considering his previous remit as CEO included finding and grooming his replacement. So the pressure's on for him to carry through on that task before his two-year contract is up (though the board could always extend his contract again, considering it already did so four times before). 

During Chapek's first year as CEO, Iger remained as executive chairman of the company, and there were tensions between the two executives. The Wall Street Journal reported that Iger undermined Chapek's leadership.

While many in Hollywood cheered Iger's reinstatement, the move also quickly drew criticism from some on Wall Street over Disney's succession planning and questions about whether the company even has execs who could be groomed to succeed him in two years.


How Iger can strengthen Disney's streaming business and control costs


Iger returns to a streaming landscape that's more competitive since he left, with new entrants like Netflix's ad-supported tier fighting for viewers' share of wallet. Disney, which in December launched its own ad-supported Disney+ offering, has enjoyed strong streaming growth, but Wall Street cares more about profitability now. 

Iger previously scored wins for Disney with acquisitions of Lucasfilm, Pixar, and other companies but told Disney staffers at a November meeting not to expect more big acquisitions. He also said a hiring freeze announced by Chapek would remain in effect.

Stepping up to lead the company amid a tough economic environment, Iger will have to address not only steep losses in Disney's streaming business but also big decisions like whether to seek full ownership of Hulu, now part-owned by Comcast; how to manage content distribution across Hulu and Disney+; and whether to keep or sell ESPN. 


How a sluggish box office and talent demands will create new challenges for Iger


Iger wasted no time in making changes, ousting Kareem Daniel — the exec who led distribution under Chapek's unpopular business restructure — and announcing plans to give Disney creative executives more power.

But he also has to deal with a box office business that's been scarred by the pandemic and mollify Hollywood talent still miffed by some of Chapek's moves. Recent animation releases have flopped, and there's been a slowdown in Star Wars releases.

Long considered one of Hollywood's most successful CEOs, Iger will need to marshal all of his business acumen, cultural savvy, and management skills to usher Disney through a challenging economic landscape and transition the company to a strong new leader.

Newsletter

Related Articles

London Daily
Close
0:00
0:00
Russia arrested an American reporter for the Wall Street Journal on espionage charges
You Are So Beautiful
Don’t Dismiss China’s Peacemaking Bid
Postmodern Jukebox European Tour Version
Austrian Parliament members walk out when Volodymyr Zelensky begins speaking.
An old French tune (by Georges Brassens) Pomplamoose ft. John Schroeder
Father obliterates council members following viral TikTok of biological male masturbating in women’s bathroom..
Sattahip Motor Show 20
Tsai Ing-wen received a "warm welcome" from the Chinese people in the US.
SONATE AU CLAIR DE LUNE - Moonlight sonata
EU's von der Leyen: "We know this is an era where we rely on one single supplier. China. 98% of our rare earth supply."
A kiss to build a dream on
China and Brazil have signed a new deal that will allow them to trade in their own currencies, bypassing the US dollar as an intermediary
Wonderful Tonight - Eric Clapton (Boyce Avenue acoustic cover)
Elon Musk and Others Call for Pause on A.I., Citing ‘Profound Risks to Society’
Mean Blues
Nashville style execution
La Chansonnette
“We've had evidence prior to the pandemic that masks were largely ineffective at preventing community transmission of influenza “
Pattaya Addicts
Former Starbucks CEO Howard Schultz:
Franz Liszt - Liebestraum - Love Dream
Former Starbucks CEO Howard Schultz rejects being labeled a "billionaire"
Dream a little dream of me
Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits
Unchained Melody sung like you've NEVER heard!
This is how an electric car saves all the energy that he would have spent if he had lived 50 years longer.
Dave Brubeck - Take Five
Brand new security footage has just been released to the public showing the Active shooter Audrey Elizabeth Hale drove to Covenant Church School in her Honda Fit this morning, parked, and shot her way into the building
Édith Piaf - Non, Je Ne Regrette Rien (Sofie)
Social Media censoring users for saying the true
Rondo Alla Turca
Smart Iranian fashion designer teaching dummy TV anchors lesson about reality
Kiss of fire
AMERICA, 2023
Tom Jones - I´ll Never Fall In Love Again 1967, 1989, 2001
U.S. charges FTX's Bankman-Fried with paying $40 million bribe
Israel Cachao López - Guajira Clásica
Fallen 'Crypto King' Who Owes Millions to Investors Was Kidnapped and Tortured
Edward Maya - Stereo Love (feat. Vika Jigulina) (Extended Mix)
Regulators blame social media for SVB's rapid collapse: 'Complete game changer'
Strauss - Radetzky March - Karajan
AOC explains why she opposes banning TikTok
La vie en rose
UK: Humza Yousaf replaces Nicola Sturgeon as SNP leader and first minister in Scotland
The Temptations - My Girl (Smokey Robinson Tribute) 2006 Kennedy Cent
In a dramatic U-turn against His Government: Judicial Reform Legislation Must Be Halted, Says Israeli Defense Minister Yoav Gallant
Orlando Cachaito Lopez Redencion
Gordon Moore, a co-founder of Intel Corporation, died at 94
Edith Piaf - NON, JE NE REGRETTE RIEN
Powell: Silicon Valley Bank was an 'outlier'
RADETZKY MARCH-2008-Wien, New Year Concert
Bordeaux town hall set on fire in France pro democracy protest
Only you (And you alone)
Police violence in Paris
Strangers In The Night
Paris: Some of the police are stepping down and showing solidarity with the protesters.
Charles Aznavour - La Boheme
Donald Trump arrested – Twitter goes wild with doctored pictures
Summer time
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Sting and Stevie Wonder - Fragile (from Sting's 60th birthday concert)
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Aux Champs Elysees
Home Secretary Suella Braverman tours potential migrant housing in Rwanda as asylum deal remains mired in legal challenges
Stand By Me - Ben E. King (Boyce Avenue acoustic cover)
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
La Mer (Beyond the Sea) – Avalon Jazz Band
Paris Rioting vs Macron anti democratic law
She
'Sexual Fantasy' Assignment At US School Outrages Parents
Nathalie Song by Enzo Petrachi Stjepan Hauser Cello
Orbán Viktor: the restructuring of the power relations in the whole of Europe is taking place
Shape of My Heart - Sting (Boyce Avenue acoustic cover)
Credit Suisse to borrow $54 billion from Swiss central bank
Radiohead - Creep
The BBC problem about China
Quizás,Quizás,Quizás - Andrea Bocelli - Jennifer Lopez
Strikes-Hit UK Pledges 94 Billion Euros In Cost-Of-Living Budget
Perhaps, Perhaps, Perhaps - Multi-Couples
Russian Hackers Preparing New Cyber Assault Against Ukraine
Pentatonix Havana
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
Paula Cole - Autumn Leaves
UK face biggest fall in spending power for 70 years
Oscar Benton Bensonhurst Blues
Jeremy Hunt insists his Budget will get young parents and over-50s back into work
OH NANANA vs ABUSADAMENTE
If this was in Tehran, Moscow or Hong Kong
Nina Simone - ”I Put A Spell On You”. Vezi aici cum cântă Jeremy Ragsd
Announcing GPT-4
NIGHTWISH - The Phantom Of The Opera
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
Motorshow 2016 Tanjay Negros Oriental
Drew Barrymore
Monica Bellucci - Ti Amo
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
Michael Jackson - Billie Jean Milena The Voice France 2018
A brief banking situation report
Michael Buble (Help Me Make It Through The Night) feat Loren Allred
Memories Canon In D - Maroon 5 (Boyce Avenue piano acoustic cover)
Matteo Simoni - Marina
Maroon 5 - One More Night
Maroon 5 - Memories
Mark Knopfler - Brothers In Arms (Berlin 2007 Live)
Mark Knopfler & Emmylou Harris - Romeo And Juliet (Real Live Roadrunni
Marina, Marina - The LUCKY DUCKIES intimist live concert at Guimarães
Major Lazer & DJ Snake – Lean On Mauranne The Voice France 2016
Love Theme from Romeo and Juliet - Joslin - Henri Mancini, Nino Rota
LoLa & Hauser - Love Story
Linkin Park Jay-Z - Numb Encore (Live 8 2005)
Hallelujah Mennel Ibtissem, The Voice France Leonard Cohen
Leonard Cohen - Dance Me to the End of Love
Leonard Cohen & Natasha Rostova - Dance me to the end of love
La casa de papel - Bella Ciao
La Camisa Negra
L'italiano (Toto Cutugno) - The Gypsy Queens
Juanes - La Camisa Negra
Jonathan and Charlotte - Britain's Got Talent 2012 Live Semi Final - U
John Powell - Assassin's Tango
Joe Cocker - You Can Leave Your Hat On (LIVE in Dortmund)
Joe Cocker - Unchain My Heart 2002 Live
Joe Cocker - A Whiter Shade Of Pale
Jay Z & Alicia Keys - Empire State of Mind LIVE
Jason Mraz - Im Yours (live)
Jarrod Radnich - Bohemian Rhapsody - Virtuosic Piano Solo
James Blunt - You're Beautiful
James Blunt - You're Beautiful & Bonfire Heart (Live at The Nobel Peac)
If You Go Away - Helen Merrill & Stan Getz (Tribute to Virna Lisi)
I'LL BE MISSING YOU
I Say a Little Prayer
Hotel California ( Eagles ) 1994 Live
Historia de un amor - Luz Casal. Vezi interpretarea Biancăi Sumanariu
Here Comes The Sun - The Beatles (Boyce Avenue acoustic cover) on Spot
Heart - Stairway to Heaven Led Zeppelin - Kennedy Center Honors
HAVANA by Camila Cabello Zumba Pre Cooldown TML Crew Kramer Pastra
HAUSER and Señorita - I Will Always Love You
HAUSER - Waka Waka
HAUSER - Sway
HAUSER - Lambada
HAUSER - Historia de un Amor
HAUSER - Despacito
Great Pretender
Georgia May Foote & Giovanni Pernice Samba to 'Volare' - Strictly Come
Gary Moore - Still Got The Blues
GIPSY KINGS VOLARE Penelope Cruz
Fugees - Killing Me Softly With His Song
French Latino - Historia de un Amor
For A Few Dollars More The Danish National Symphony Orchestra (Live)
Flashdance • What a Feeling • Irene Cara
Filip Rudan - “Someone You Loved” Audicija 4 The Voice Hrvatska Sez
Eric Clapton - Wonderful Tonight
Enya - Only Time
Enrique Iglesias - Bailando (English Version) ft. Sean Paul
Enrique Iglesias - Bailamos
Elena Yerevan Historia de un amor
Ed Sheeran - Shape of You (Official Music Video)
Ed Sheeran - Perfect Symphony [with Andrea Bocelli]
Ed Sheeran - Perfect (Official Music Video)
Easy On Me - Adele (Boyce Avenue 90’s style piano acoustic cover) on S
ERA - Ameno
ELENA YEREVAN- Cancion Del Mariachi-IN STUDIO-2017 DPR
Dust In The Wind - Kansas (Boyce Avenue acoustic cover)
Don't Let Me Be Misunderstood
Despacito x Shape Of You - Pentatonix
Deep Purple - Child In Time - Live (1970)
David Foster When A Man Loves A WomanIt's A Mans World (SealMichael Bo
Dance me to the end of Love ( Pi-Air Design )
Coolio - Gangsta's Paradise (feat. L.V.) [Official Music Video]
Conquest Of Paradise (Vangelis), played on Böhm Emporio organ
Cielito Lindo
Chico & The Gypsies - Bamboleo
Canción Del Mariachi - Antonio Banderas, Los Lobos • Desperado
Camila Cabello - Havana (Audio) ft. Young Thug
Camila Cabello - Havana ( cover by J.Fla )
California Dreamin' - The Mamas & The Papas José Feliciano (Boyce Ave
Buster Benton - Money Is The Name of The Game
Hallelujah Pentatonix
Bobby McFerrin - Don't Worry Be Happy (Official Music Video)
Bob Dylan - Knockin' On Heaven's Door Emilia The Voice Kids France
Besame Mucho - Cesaria Evora
Ben E. King - Stand by Me Sax Cover Alexandra Ilieva Thomann
Bella Ciao
Bella Ciao - INSTRUMENTAL
Beautiful in White x Canon in D (Piano Cover by Riyandi Kusuma)
Bad Romance - Vintage 1920's Gatsby Style Lady Gaga Cover ft. Ariana Savalas & Sarah Reich(1)
BELLA CIAO 2020 - KARAOKE ITALIANO
BAMBOLEO - Gipsy Kings • Antonio Banderas, Katya Virshilas
BAILANDO (original)
Awesome Ukrainian yodeler - SOFIA SHKIDCHENKO (with English subtitles)
Avicii - The Nights
Atom - The Great Gig in the Sky
Aretha Franklin - (You Make Me Feel Like) A Natural Woman (Official Ly
Antonio Banderas - Cancion del Mariachi (Desperado)
André Rieu - Zorba's Dance (Sirtaki)
André Rieu - Can't Help Falling In Love
André Rieu & Mirusia - Ave Maria
Andrew Reyes Elton John - Don't Let The Sun Go Down The Voice 2020 (
Andreas Kümmert Whiter Shade Of Pale The Voice of Germany 2013 Showd
And I Love You So
All About That Bass - Postmodern Jukebox European Tour Version
Alan Walker - Faded (Piano Cover)
Ain't No Sunshine -- Bill Withers (cover by Canen 12 y.o.)
African music
Adriana Vidović - “Creep” Audicija 4 The Voice Hrvatska Sezona 3
Adriana Vidović - “Believer” Nokaut 3 The Voice Hrvatska Sezona 3
A Fistful of Dollars - The Danish National Symphony Orchestra and Tuva
4 Beautiful Soundtracks Relaxing Piano [10min]
2CELLOS - Whole Lotta Love vs. Beethoven 5th Symphony [OFFICIAL VIDEO]
2CELLOS - Smooth Criminal (Live at Suntory Hall, Tokyo)
2CELLOS - Smells Like Teen Spirit [Live at Sydney Opera House]
2CELLOS - Despacito [OFFICIAL VIDEO]
13 Year Old Girl Playing Il Silenzio (The Silence) - André Rieu
094.All About That Bass
00 - SADNESS PART 1
(Ghost) Riders In the Sky (American Outlaws Live at Nassau Coliseum, 1
(Everything I Do) I Do It For You - Bryan Adams (Boyce Avenue ft. Conn
What a wonderful world
Moon river
×