Bob Chapek Named CEO of Disney

[SeaDis]

*BOB CHAPEK NAMED CEO OF DISNEY

Was chairman of Parks, Experiences, & Products. Maybe a good thing? Although Iger committed a lot of expansion resources to DLR. Long run for Iger. Fair to say this is a big surprise.

There might be a better forum for this. I don't follow very many DIS forums.

 

[Star wars fanatic]

I just sought currently watching Bloomberg and they just broke the news

 

[RJstanis]

Here comes the even greater fall of the Disney experience with even more cost cutting.

 

[Star wars fanatic]

I remember this was rumored to happen

 

[tsumgirl]

Investor conference call starts in 10 minutes for those wanting to listen.

https://thewaltdisneycompany.com/investor-conference-call/

 

[AndrewC]

*BOB CHAPEK NAMED CEO OF DISNEY

Was chairman of Parks, Experiences, & Products. Maybe a good thing? Although Iger committed a lot of expansion resources to DLR. Long run for Iger. Fair to say this is a big surprise.

There might be a better forum for this. I don't follow very many DIS forums.

Galaxy's Edge has been pretty impressive... maybe this won't be all bad...

I'm also happy that he isn't a "8 hour line every day after opening" type of person to just get the news out that something is "popular." Anything that can be done to reduce wait times is a win in my book, and if Disney is looking at that as a big thing to push for with new (and old) attractions, that can go a LONG way to making the day way more enjoyable in the parks.

 

[StarlitNight05]

 

[sjmac42]

Oh dear.
I’ll wait for Josh D’Amaro to replace Chapek to see the guest experience be a priority.
I could be waiting a while . . . . . . .

 

[StarlitNight05]

Any word on who is in charge of the Parks division now?

 

[VandVsmama]

Oh yuck

 

[jacandjan]

"This afternoon, The Walt Disney Company announced that Bob Chapek would be taking over as CEO effectively immediately. Following this, a conference call will be held with investors. Follow along as we bring you news and analysis from the call."

IMHO they could not of picked a worse person at least from the park side of the company. This guy is the one who cut all the extras from Galaxy's Edge. Things like the 3rd ride, sit down restaurant and entertainment to help make the place come to life. He is a merchandise guy so prepare for even more generic merchandise in every land. Sad Day

 

[Skyegirl1999]

This guy is the one who cut all the extras from Galaxy's Edge. Things like the 3rd ride, sit down restaurant and entertainment to help make the place come to life. He is a merchandise guy so prepare for even more generic merchandise in every land. Sad Day

This is my concern as well... his track record makes me nervous... but I will wait and reserve judgement until we see what actually happens in the parks now. Fingers crossed...

 

[Aurora0427]

I am not excited about this. I’m still not over what he’s done and is planning to change at the Grand Floridian Resort.

 

[HydroGuy]

"This afternoon, The Walt Disney Company announced that Bob Chapek would be taking over as CEO effectively immediately. Following this, a conference call will be held with investors. Follow along as we bring you news and analysis from the call."

IMHO they could not of picked a worse person at least from the park side of the company. This guy is the one who cut all the extras from Galaxy's Edge. Things like the 3rd ride, sit down restaurant and entertainment to help make the place come to life. He is a merchandise guy so prepare for even more generic merchandise in every land. Sad Day

This is my concern as well... his track record makes me nervous... but I will wait and reserve judgement until we see what actually happens in the parks now. Fingers crossed...

Count me in the crowd of not happy. He has always come across to me like out of the Pressler and Harriss mold. I am concerned.

 

[baozi]

To celebrate, ticket price will increase by 8.8%.
kidding...

 

[katyringo]

The negativity around this floors Met. None of use really knows what goes on behind the closed doors of Disney. We complain about this guy that he made all these cuts etc, yet here we are constantly planning trips and spending the money. Must be doing something right??!!?

 

[Blue32]

The negativity around this floors Met. None of use really knows what goes on behind the closed doors of Disney. We complain about this guy that he made all these cuts etc, yet here we are constantly planning trips and spending the money. Must be doing something right??!!?

We may continue to visit the park because we love them enough to see past the shortcomings and bad decisions regarding the parks we love so much. I don’t think that means he’s doing something right. I think a lot of the parks decisions he has made are bad for long term success.

 

[SeaDis]

And I offered to take the job for half of Bob's salary and a few annual passes. Bummer.

On the random speculation front:
Iger hinted at the last couple renewals that he was preparing to move on. And the last couple renewals happened well before the contracts expired.

But today was effective immediately with a contract to 2021 as mentioned. That suggests something has come up. I hope there's no health issues, but that's often a factor. He's staying on as Exec Chairman so that should rule out any personnel issues. Another idea is a possible political run, which he has hinted at.

Last idea would be an earnings stinker that is lurking somewhere. CEOs like to leave on a high note. New CEOs often like to drop a "kitchen sink" quarter soon after arrival, to lower the starting point for future growth during their tenure. Iger said "I believe this is the optimal time to transition to a new CEO". He might just mean that!

I have zero knowledge of anything. Just thinking there is more to this story coming before long. They really didn't give much reason at all in all the press today.

 

[Cookiemonster156]

One of the worst decisions they could have made.

Anyone remember this past D23? He went on to talk about Disney and Target having a new partnership for nearly 20min in a predominantly Disney Parks panel.

 

[HydroGuy]

One of the worst decisions they could have made.

Anyone remember this past D23? He went on to talk about Disney and Target having a new partnership for nearly 20min in a predominantly Disney Parks panel.

Yep. I was there.