Even though it has been weeks since the former Walt Disney Company CEO Bob Chapek was fired, stock market investors are still criticizing him and the decisions he made during his time as leader of the entertainment giant.
Many high-profile shareholders of The Walt Disney Company had grown frustrated over the past year with Bob Chapek’s management of the company. Eventually, the temperature reached a maximum boiling point, leading to a revolt against Chapek and forcing Disney’s Board of Directors to remove him and replace him with his predecessor Bob Iger.
Throughout Chapek’s short tenure as CEO of Disney, politics and controversial decisions helped make him a divisive figure on both the right and the left outside of the company. In addition to his dislike externally, it had been reported for months that Cast Members throughout many of the creative departments of Disney had grown impatient with his cost-cutting measures and had kept their hands tied in letting them operate in the manner they are accustomed to.
During an interview this morning on the Fox Business show “Varney & Co.,” investor Jeff Sica described former Disney CEO Bob Chapek as an “ever-incompetent” and “ever-woke” leader after Chapek piloted the company through months of historical losses.
In that same interview, Mr. Sica said that he was happy that Disney decided to get “rid of the ever-incompetent Bob Chapek” and bring back “Bob Iger, who is a much, much better CEO.” He also said that new leadership could also translate into recent financial wins.
Mr. Sica believes that Iger is the right man for the job. He explained further that “[Iger] realizes that Disney needs to take that iconic brand and do what they’ve always done, so I expect a turnaround.” While Sica had mentioned that Iger was not “completely in line” with right-wing conservatives, Sica admitted that Iger was “better” than Chapek.
As investors start to analyze the new operating reality for Disney in an uncertain economic environment, it will certainly be interesting to see if the same level of criticism that Bob Chapek received will be put on Bob Iger. Bob Iger must address many issues in the near term to make shareholders of Disney happy.
Do you think Bob Iger will do a better job in his second stint as Disney CEO than Bob Chapek did? Let us know what you think by leaving us a comment below.