If you have visited the Disney Parks and Resorts in the last few years or been a part of the Disney community in general, you will surely know the name, Bob Chapek. Chapek served as the company’s CEO for a short time, taking over following Bob Iger’s multi-decade tenure.
The swift power exchange between Iger and Chapek came as a bit of a surprise, especially since Iger ended his position with the company earlier than expected. Iger was eventually brought back on as CEO after Disney dropped its bombshell decision to fire Bob Chapek in 2022.
Credit: Screenshot via Annual Shareholders Meeting
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. Chapek was brought on to replace Iger in early 2020, though his time at The Walt Disney Company would be cut short in 2022.
According to Business Insider, Bob Iger thought his final few years at Disney would be a “biggest hits” compilation filled with final goodbyes and adieus to the employees and other coworkers he encountered. Instead, according to sources, the executive spent 2020 and 2021 on the sidelines, helplessly watching as an unprecedented and unexpected COVID-19 pandemic swept the world, devastating the company he had so prominently led for 15 years.
Perhaps the biggest bombshell in the entire storywas Iger’s feelings about passing the figurative baton, or in this case, magic wand, to Chapek. Iger said he regrets this choice, calling it one of his worst business decisions.
Initially, the transition was set to be smooth, with Iger slowly leading Chapek into the role. However, this transfer of power did not turn out as Iger had thought, and he reportedly remained unhappy with how it was handled.
“He got tired of all the things you have to do,” said a Disney exec. “He really wanted to play around with creative and not worry about all the business crap.”
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Credit: Inside the Magic
