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Bob Iger Is Back as Disney’s CEO — What Happens Now?

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On Sunday, November 20th, The Walt Disney Company announced that Bob Iger would be taking over as CEO as Bob Chapek steps down from the position.

Magic Kingdom

A lot has happened in less than 48 hours since the announcement — stock prices are on the rise, celebrities and Disney fans have expressed their opinions on social media, Bob Iger’s salary has been revealed, and Bob Chapek’s “right-hand man” Kareem Daniel has also left the company. This change in CEO was effective immediately as of Sunday night (November 20th) and things are already moving so fast. So what should Iger’s first steps be as Disney’s CEO? Let’s dig into it.

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Celebrities React to Disney’s Decision To Bring Bob Iger Back as CEO

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In case you missed it, Walt Disney Company CEO Bob Chapek has stepped down from his position and has been replaced by former CEO Bob Iger.

©Reuters

The Disney Board of Directors announced this change late in the evening on November 20th, noting that Bob Iger would resume his role as CEO effective immediately, and Disney’s stock values proceeded to increase significantly the following Monday morning. Many people have been commenting on this change and what it could mean for the future of The Walt Disney Company, and we’ve compiled some of the reactions we’ve found across social media.

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Why Disney Replaced Bob Chapek With Bob Iger

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Bob Iger has taken over as CEO of The Walt Disney Company (again) after it was announced that Bob Chapek would no longer fill the role.

©CNBC

The news was about as stunning as Iger’s initial announcement that he would be stepping down in early 2020, just weeks before the COVID-19 pandemic would force Disney to halt theme park operations. The company’s Board of Directors had voted earlier in 2022 to extend Chapek’s by three years — after the then-CEO had already faced criticism for price increases in the parks, Annual Pass program changes, and even his political decisions regarding Disney’s response to Florida’s Parental Rights in Education (or “Don’t Say Gay” per critics) law. So, why was the decision to replace Chapek with Iger made now, and why so (seemingly) sudden?

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Bob Iger Is Back at Disney. Here’s What Can Change (and What Won’t).

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Wall Street has shown its instant approval today for the moves The Walt Disney Company made on Sunday night — replacing Disney CEO Bob Chapek with former CEO Bob Iger. Disney stock jumped up in the early morning, pre-trading hours. Disney fans on social media are also speaking loudly in approval of the change.

©Reuters Everything old is new again … Disney CEO Bob Iger

But with all of the “huzzahs!” and stock purchases and general warmth around this move, fans are commenting about all the “changes” they are expecting to “bring the magic back” to Disney Parks. But should we really expect any significant change in the parks with Iger back in charge?

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A Big Sponsor of Disney’s 100th Anniversary Has Been Revealed

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Can you believe that Disney is about to turn 100 years old?!

©Disney

Yep, The Walt Disney Company started all the way back in 1923, and there are going to be some BIG celebrations for the anniversary next year. We’ve already seen some merchandise and learned about some special events, and now, we know one of the sponsors of the celebration!

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Bob Chapek Says You’ll Pay More for Disney+

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As the Walt Disney Company reported its 4th quarter earnings last week, Disney’s stock price plunged to a 2-year low.

Bob Chapek

Days later, Disney announced a hiring freeze and “some small staff reductions” to slash costs. One of the biggest issues for Disney investors is Disney’s streaming video business and its mounting losses.

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Disney Reveals How They Might Respond to a Recession

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Disney’s most recent quarterly earnings report yielded some interesting statistics, such as exactly how much Hurricane Ian cost the company and how the recent revenue totals compare to years previous. Although many of the things we learned were about Disney’s past fourth quarter in 2022, we also learned about some potential future directions for The Walt Disney Company.

Partner Statue in Disney World

Disney CEO Bob Chapek and CFO Christine McCarthy participated in a question-and-answer session during the earnings call. During that session, they were asked about the potential impacts of a recession on the Disney company. Not surprisingly, Disney is well aware of the situation and is already considering a plan for how they can combat a slower economic atmosphere. [Read more…]

Disney CEO Bob Chapek Is “Filled With Optimism” About 2023, Despite Potential Recession Impact

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The last few years have been unusual for The Walt Disney Company, as they have been for many companies worldwide. As Disney continues to work on recovery from the COVID-19 pandemic closures, it has also been navigating the growth of Disney+ and other streaming platforms along with the launch of a new cruise ship and many changes to the Disney parks.

Cinderella Castle

In the last couple of years, we’ve seen changes like the new Park Pass Reservation system, the start of Disney World’s 50th anniversary, the transition to Genie+ (from FastPass+), and many price increases in the Disney parks. So what is Disney hoping to do in 2023? Their recent earnings call provides some answers. [Read more…]

A Timeline of Disney CEO Bob Chapek’s Financial Decisions 2020-2022

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Whether you agree with what he’s done or not — Bob Chapek has changed the House of Mouse forever.

Bob Chapek

Since first taking the helm as Chief Executive Officer almost three full years ago, Chapek has faced no shortage of challenges both specific to The Walt Disney Company and on a broader, more global scale as well. So, what all has transpired since Bob Chapek took over as The Walt Disney Company CEO? Let’s take a closer look.

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Tickets and Reservations Now OPEN for Disney’s 100th Anniversary Event

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The Walt Disney Company’s 100th anniversary is coming up soon, and the main hub for the celebration will be Disneyland Resort. The party is slated to begin on January 27th, 2023.

©Disney

Previously, Disney had paused theme park reservations and ticket purchases for Disneyland and Disney California Adventure from January 9th onward, but now that has changed! [Read more…]

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