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Credit: DisneyIn early 2020, Bob Chapek took on the role of CEO of the Walt Disney Company after Bob Iger stepped down. Prior to becoming CEO, Chapek was the Chairman of Parks and Resorts for Disney.
Ever since Chapek became Disney CEO, there has been a backlash on how he is handling the role. Now, new reports are predicting Bob Iger could return as CEO, forcing Chapek out.
Related: Should Bob Chapek Be Fired? Guests Debate Disney CEO’s Role
Chapek has been CEO during the ongoing pandemic and has made difficult decisions throughout this last year and a half, including budget cuts and layoffs. If you are not familiar, some of the decisions that the Walt Disney Company has made with Chapek in the CEO role include the layoffs of thousands of Cast Members after the Parks shut down due to the ongoing pandemic and the launch of Disney Genie, including the new paid FastPass system, Lightning Lane.
Ever since Chapek took on the role, there has been backlash amongst fans, as well as retired Cast Members, on how he is handling becoming CEO. In fact, a petition was created (by an anonymous user) asking Disney to fire Chapek. It has gained the attention of many Disney fans worldwide, as it currently has over 84,000 signatures.
Could this have been the final straw for The Walt Disney Company? Well, one executive told CNBC there are already “internal wagers at Disney about Iger returning” as CEO.
Related: Bob Iger Regrets Hiring Bob Chapek, “One of His Worst Business Decisions”
Bob Iger originally planned to retire in 2015 but repeatedly extended his contract before abruptly and officially stepping down from CEO in 2020. He is still Disney’s executive chairman until the end of this year.
We know that the former Disney CEO is currently working on a second book, according to The Hollywood Reporter, but one executive recently shared that there are currently “internal wagers at Disney about Iger returning” as CEO. At this time, it is unclear if Iger would want to return as Disney CEO, but CNBC reported:
Disney shares have stumbled this year, down nearly 20% year to date. Iger owns a lot of those shares. The board and Iger may get restless if Disney+ growth stagnates and the company continues to have turf tensions between executives.
Related: Guests Rush Bob Iger in Disneyland Following Chapek Firing
As always, Inside the Magic will continue to update you as we get information regarding Bob Chapek and Bob Iger.