New insight into the fallout between Bob Chapek and The Walt Disney Company has emerged, with the former CEO’s thoughts and feelings revealed in a new bombshell report.
It was officially announced on a late November night that longtime Disney CEO Bob Iger would be stepping back in and replacing Bob Chapek. The Disney veteran would reassume the role of Chief Executive Officer, essentially kicking out Bob Chapek, who had become one of the most controversial and divisive figures in the company’s history.
However, a new article gives some much-needed insight into the power struggles between Iger and Chapek, with the two businessmen enduring a very troubled relationship in the leadup to this unprecedented decision.
A Rift Forms Between Chapek and Iger
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A new article from The New York Times sheds light on the endlessly fascinating story of Bob Chapek and his time at Disney. Despite only remaining Disney’s leading man for two years, Chapek managed to become one of, if not the most controversial and divisive executives in the company’s history.
While Chapek certainly struggled, many of the hurdles the executive faced were no fault of his own.
The keys to the Disney kingdom were handed to Chapek months before the world shut down due to the COVID-19 pandemic, which is a challenge that would likely have stumped the company’s founder, Walt Disney himself, with all eyes on Chapek as to how he would guide Disney through this difficult and uncertain time.
Chapek would also face controversy over the way Disney responded to Florida’s incredibly divisive Parental Rights in Education Act, or as it is more commonly referred to, the “Don’t Say Gay” bill. The company eventually paid the price in 2023, losing ownership of the Reedy Creek Improvement District over its handling of the divisive moment in American politics.
In the months that followed, Chapek increasingly felt as though his coworkers at Disney, notably former CEO Bob Iger, were out to get him.
While Iger stepped down as Disney CEO in early 2020, the Disney veteran stayed on at the company as a “creative director” and executive chairman of the board, an agreement intended to last for two years.
According to new information, a rift formed between Chapek and Iger during this time, with the two men often not seeing eye to eye.
“He’s Killing Me”
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The split between the two men can be traced back to another article from The New York Times that suggested Iger had regained control despite Chapek being given the title of CEO.
“After a few weeks of letting Mr. Chapek take charge, Mr. Iger smoothly reasserted control,” reads the story, which was published shortly after Chapek was announced as Disney’s new CEO in 2020.
Mr. Smith called Mr. Chapek “the new, nominal chief executive” and even speculated that the choice of Mr. Iger’s successor “may be open again.”
Mr. Smith quoted Mr. Iger as saying in an email that “a crisis of this magnitude, and its impact on Disney, would necessarily result in my actively helping Bob [Chapek] and the company contend with it, particularly since I ran the company for 15 years!”
Mr. Chapek immediately called Ms. Mucha, the communications executive. “What the hell is this?” he demanded. Trying to calm him, she argued the column wasn’t that bad.
“He’s killing me,” Mr. Chapek responded.
Unhappy Guests
Bob Iger denied he had spoken to Mr. Smith, who penned the original story, which angered Chapek even further. Chapek noted that Iger’s quote came directly from an email, but Iger stated he did not understand why Chapek was so upset.
“You’ve cut my legs out from under me,” Mr. Chapek said. “I’ve never felt worse in my life.”
The conversation became heated, and both men raised their voices.
Mr. Iger told several people immediately afterward that he’d never been treated with more disrespect by anyone in his entire life.
As far as Mr. Iger was concerned, his relationship with Mr. Chapek was over.
Chapek faced hardships across all of Disney’s sectors, including its theme park and entertainment divisions. Chapek quickly became the face of Disney’s controversial line-skipping tool Genie+, which replaced the company’s previously free service. Now, guests would pay upwards of $20 a day to bypass standby queues inside the company’s parks at both Disneyland and Walt Disney World.
The cost of Genie+ made it incredibly controversial, but guests also felt betrayed by the fact Disney would replace a free service with something this pricey. Genie+ has since been retooled and renamed, transforming into something called Lightning Lane Multi Pass earlier this year, though the two systems work similarly to each other.
The unpopularity of Chapek’s Genie+ system even prompted public protests at Disney’s runDisney events at its theme parks, with guess holding signs criticizing Chapek on the race course.
Chapek would become the fall guy for many of Disney’s shortcomings, with the company finding itself embroiled in seemingly endless controversy at every turn. The company’s handling of a lawsuit filed against it by Hollywood actress Scarlet Johansson was exceptionally ugly, with Chapek being blamed for comments and reactions made by Iger.
The Snake Pit
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On the corporate side, The Walt Disney Company is a monolith, with many power struggles, harsh words, and important meetings all taking place at the company’s headquarters.
Chapek’s former chief of staff went on record calling the company’s executive suite a “snake pit,” something Chapek would likely agree to now that everything is said and done.
Chapek’s firing came abruptly at the end of 2022, with the board and Bob Iger all losing confidence in the CEO. The board held a meeting, unanimously agreeing to terminate Chapek effective immediately. Chapek had planned to attend an Elton John concert that was being livestreamed on Disney+ the same night as the meeting.
Chapek was still at his home in Westlake Village when he received the call. Former chairman of The Walt Disney Company Susan Arnold called Chapek, delivering the news that would soon shock the entire world.
Ms. Arnold got straight to the point: “Effective immediately, you’re out.” He wasn’t even offered the face-saving gesture of resigning.
Despite his anxieties, Mr. Chapek was unprepared for something this sudden. “Why?” he asked.
“We lost confidence.”
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said Arnold after the decision had been made public.
Iger’s Back, Baby
A decision was made to allow Bob Iger to return for a brief stint as CEO. Originally intended to serve through 2024, Iger was granted an extension that lasts until 2026, giving The Walt Disney Company ample time to find a successor.
In recent months, the search for Iger’s replacement has certainly gained traction, at least publicly, with Iger claiming he is now “obsessed” with finding the next CEO.
Iger was at the helm of The Walt Disney Company during some of Disney’s most important projects, including Pandora: The World of Avatar, Star Wars: Galaxy’s Edge, as well as the massive Fantasyland expansion at Magic Kingdom.
Only two CEOs served The Walt Disney Company for almost four decades: Michael Eisner from 1984 to 2005 and Bob Iger from 2005 to 2020.
Iger left an impressive legacy behind at Disney, first becoming CEO in 2005 and handing the mantle over to Chapek in 2020. The exchange of power between Iger and Chapek was swift and came as a bit of a surprise, especially since Bob Iger ended his position with the company an earlier than initially expected.
Since his return in 2022, Bob Iger has faced immense controversy himself, losing a substantial chunk of the goodwill he worked hard to earn among many fans and guests. Iger’s comments on the Hollywood strikes in 2023 did not paint the uber-wealthy and accomplished businessman in the best light, especially considering how many of those on strike were employed by The Walt Disney Company.
Regardless of public perception, Disney executives claim the decision to bring Iger back was a good one, stating that the CEO’s return has restored morale and brought stability to the company, according to The New York Times.
Current Disney executives say Mr. Iger has restored morale and brought needed stability to the management ranks. Marvel and Pixar had big summer hits in “Deadpool & Wolverine” and “Inside Out 2,” both started while Mr. Iger was still creative head. Though Disney stock remains in the doldrums, the streaming combination of Disney+, Hulu and ESPN+ eked out a profit in the quarter ending June 29, three months ahead of projections. Mr. Iger was greeted by fans with delirious applause when he appeared onstage at this summer’s D23 fan gathering in Anaheim, Calif. Mr. Iger was so moved that he had to fight back tears before speaking.
Who’s Next?
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It’s unknown who the torch will be handed to next, though insiders claim Dana Walden is a frontrunner in the CEO race. Walden and Iger reportedly get along very well, with the co-chairman overseeing a lot of Disney’s company decisions.
The accomplished businesswoman also serves as a member of the President’s Export Council.
Disney Parks and Experiences Chairman Josh D’Amaro’s name has also been thrown around, but this has mostly been outside speculation. D’Amaro is in charge of Disney’s theme parks, with the executive heading the company’s D23 fan event in August.
Amid the wide range of new and exciting projects, D’Amaro also announced exciting new forays into the world of digital entertainment, with The Walt Disney Company taking a stake in Fortnite developer Epic Games.
Disney invested $1.5 billion into the company earlier this year, promising to deliver brand-new and exciting experiences for fans. Disney has made it clear it sees itself as much more than a Mickey Mouse machine, attempting to tell bold new stories both inside and outside of its theme parks.
What do you think about Bob Chapek and his legacy at Disney? Do you prefer Bob Iger as CEO?