Disney CEO Bob Iger reportedly had some major concerns about Bob Chapek when Chapek was the CEO, including the feeling that Chapek was “killing the soul of the company.”
©Disney
According to The Wall Street Journal, Iger had a difficult time handing over the reins after he retired from his position as CEO in 2020, and he had a habit of interfering at the company, which Chapek sometimes felt “undermined” his role as a leader.
Bob Iger announced in late February 2020 that he was retiring from his position as CEO and would be succeeded by Bob Chapek. Iger would remain at The Walt Disney Company as the executive chairman of the Board.
Bob Iger ©New York Post
Apparently, the first signs of tension between the 2 men came less than a month later, when they “were at odds over Mr. Chapek’s plan to lay off tens of thousands of workers at Disney’s theme parks as Covid-19 hit,” according to The Wall Street Journal. Chapek confided to some that this made him “feel as though he had been undermined from the start,” and the idea “infuriated” him.
©Disney
Iger continued to be involved in the happenings at Disney and frequently commented on Chapek’s decisions both privately and publicly. The WSJ reported that “some associates said Mr. Iger would fixate on the topic [of Bob Chapek] so much that it became uncomfortable.”
Joseph Yaffe (who advises on corporate governance) said that some former CEOs are “simply unable to take their hands off the wheel,” which seemed to be the case with Iger. Chapek reportedly complained to his inner circle that Iger “was interfering in day-to-day matters that were supposed to be the CEO’s domain.”
©Reuters
Reports say that Iger felt Chapek had “given priority” to Disney’s streaming business “at the expense of other parts of Disney, like cable television and the theme parks.” In fact, Iger was “alarmed by increases in prices at Disney theme parks,” which Chapek felt would “boost revenue and limit overcrowding.”
Main Street
Iger apparently told more than one person that Chapek was “killing the soul of the company.” Now, some associates have said that Iger told them “he has another priority beyond righting the company’s finances.” He plans “to be more involved in the CEO succession process this time around.”
©Alberto E. Rodriguez / Getty Images
Chapek has long been considered the “finance guy,” whereas Iger is thought to be the “content guy.” Chapek’s experience with balancing the numbers and cutting costs was likely what led to Disney’s successful recovery from the COVID-19 pandemic. However, he lacked the charisma and finesse to win the positive opinion of many Disney fans, and as Disney continued to lose money on its streaming services, the company turned to Iger in the hope that he could turn things around.
To learn more about Bob Iger and his return as Disney’s CEO, check out these posts:
- Disney Stock Values Jump Following News About Bob Iger’s Return as CEO
- Bob Iger Is Back at Disney. Here’s What Can Change (and What Won’t)
- Why Disney Replaced Bob Chapek with Bob Iger
- Celebrities React to Disney’s Decision to Bring Back Bob Iger
- Bob Iger Is BACK as Disney’s CEO — What Happens Now?
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Under normal circumstances, I’d say Iger was out of line. But Chapek clearly understands nothing about Disney, and all of his decisions were terrible.
I have to agree with Iger. Now I didn’t agree with every change and decision that Iger made over the years, but I generally felt like a valued guest at the park under Iger. Under Chepak, I didn’t feel like I had been merely demoted to a customer, but rather to a cash cow to be milked for every available drop of cash possible. And Chepak’s attitudes towards the cast, talent and just about everybody else seemed to be the same–nothing mattered but how much you could contribute to Disney’s bottom line and his bonus.
Iger feels that Chapek was KILLING THE SOUL OF THE WALT DISNEY COMPANY. If Iger was alarmed by THE INCREASE IN PRICES IN DISNEY THEME PARKS THEN HE SHOULD SPEAK OUT LOUD IMMEDIATELY ABOUT PRICE REDUCTIONS. This is what we are all waiting to hear.
They have to turn around all aspects of the parks and hotels before I come back haven’t been in three years I use to go every year been going to universal instead the atmosphere is totally different from Disney wright now it’s very relaxing and pleasant things have to change at Disney before I come back
I’ve been going to Disney World since 1974 with my family. Sometimes twice a year from New England! And stayed mostly at the Polynesian! The money we spend at that time was so worth it to see the excitement and aww on our children’s faces. It was a feeling, a happy place of what our future and the World could be. Sharing it with people and different cultures from all over the World. NOW it’s just another price gouging dirty amusement park. It’s certainly not that happy place. When we leave we feel exhausted, disappointed knowing you just got fleeced! and my adult children and definitely our grand children would prefer to go anywhere besides Disney for our families vacation. We’ve rented a house boat on Lake Powell. Gone to Europe, we’ve gone cross country to the National Parks and even camped etc. Brakes my heart what Walt and his imaginers in visioned is so long gone and have no illusions it can ever return. It’s so true when it’s said Disney has lost it’s heart it’s soul! Replaced with MONEY grabbing vultures at every turn. Even as hard as the cast and crew try they seem overwhelmed and just as Weary as we are like the light is gone.
CONGRATULATIONS to C Cascone. You said very eloquently what my family and many other families feel. Our family like yours stayed at the Polynesian many times beginning in 1984. The constant price increases made what was once possible, no longer possible.