food IS a theme park
Disney leadership has been on quite the rollercoaster ride recently.
Bob Chapek and Bob Iger ©CNBC
Bob Chapek was removed from his position as CEO in late 2022 and Bob Iger returned after just a brief time away. Since that time, we’ve seen various executives leave the Company, others return (sometimes in advisory capacities), and major shifts in organization take place. But news about Chapek and his view on his time as CEO has been noticeably absent…until now.
Buckle up, y’all — we’ve got BIG NEWS!
Partners Statue in Disney World
On August 9th, stakeholders and Disney fans — the team here at DFB included — tuned in to the company’s Q3 earnings call to check out the details on the Walt Disney Company’s successes and shortcomings during the third quarter of fiscal year 2023. The quarter was filled with a few gains and losses, some of which took place within Disney+ — the company’s streaming platform. And now, cracking down on password sharing could be Disney’s answer.
Disney’s current CEO — Bob Iger — has made some controversial statements in the past, but following his latest ones, we’ve seen some interesting things happen.
©Disney
It has been announced that Iger will be sticking around at Disney longer than originally expected for his “return tour,” and he’s commented recently on the actors strike, certain accusations made against Disney by Florida Governor Ron DeSantis, and more. Following these comments, Disney’s stock has been…less than great, and comments against Iger have similarly taken a turn for the worst. Let’s take a look at what’s going on.
The entertainment industry could be preparing to come to a screeching halt.
©Disney
Since May, the WGA (Writers Guild of America) has been on strike, which has already begun to disrupt TV and movie production schedules. Now, though, with a SAG-AFTRA (The Screen Actors Guild – American Federation of Television and Radio Artists) strike potentially on the way, more productions could potentially shut down, halting pretty much all TV and movie productions currently filming. Walt Disney Company CEO Bob Iger has commented on what that could mean.
The Walt Disney Company has certainly changed in the last few years.
©Disney
No one knows that better than CEO Bob Iger, who returned to Disney in November 2022 after previously retiring from the position. The 100th Anniversary celebration is underway, and new restaurants and resort expansions have been announced. But, Disney is also in the middle of a few lawsuits and ongoing battles in Florida. It was recently announced that Iger would stay on as CEO through 2026 so we’ve got quite a few years more with Iger at the helm. But what is Iger’s take on the sometimes surprisingly low crowds seen in the Disney World theme parks lately and the future of the parks business? Is he worried? We have an answer.
If you’re in the loop with Disney news, then you know that there’s a LOT going on right now.
Cinderella Castle
Between changes coming to the theme parks, new movies getting released in theaters, and The Walt Disney Company’s legal battle with Florida Governor Ron DeSantis, there’s plenty to try and keep up with. We’ve been following everything that’s happening, ready to hear more from Disney executives. And that’s exactly what happened today.
Bob Iger’s time as Disney’s returning CEO is ticking.
©Disney | Walt Disney Company Headquarters
Iger has only signed on for a 2-year return to Disney, and a succession planning committee has been created which is tackling the hunt for Iger’s successor. Various names and ideas have been proposed. Could Iger be replaced by TWO CEOs? What about the reported “top contender” Christine McCarthy? There have been lots of names thrown into the ring, but one candidate might be particularly interesting to those at Disney for a big reason.
Things with Disney’s executive team have been in flux lately.
©Disney | Walt Disney Company Headquarters
Bob Chapek is no longer CEO, a new chairman of the Board will be starting soon, some executives have left, others are set to return, and job cuts could impact many employees across the Company. And while Bob Iger has returned to the CEO position for a 2-year run, one former Disney CEO has indicated that LEAVING the Company is what may have actually helped him to keep on living.
When Disney brought Bob Iger back as CEO, the company did so with a few goals in mind — one of which was being involved in choosing his successor. It’s a job Iger had once before, which didn’t end on a positive note, and speculation has been running wild about who might have what it takes to replace him.
©Disney | Walt Disney Company Headquarters
Iger is widely regarded as being a successful leader the first time around, with fans welcoming him back with open arms the second time. It’ll take some pretty big feet to fill those shoes — or maybe two pairs of feet instead.
Bob Iger may have only just returned to the CEO position at Disney in November of 2022, but he’s already faced some huge challenges.
©D23
There have been executive leadership changes, a major reorganization of the Company is underway, and huge cost cuts (we’re talking BILLIONS) are planned for the Disney Company. But that’s not all. Right now, we’re tackling 3 of the major unexpected challenges Iger has had to face and just what the future might hold. Let’s break it all down!
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