Bob Iger Steps Down as CEO, Chapek to Succeed Iger as CEO

[Brianstl]

B/c the leader wanted out...and didn't want to take the flak for what's coming...

Unpopular cuts are coming...stockholders will also not be happy...it's not something Iger might want in his last year, so he says he'll stay in a reduced form, but he's out from the top...

Disney probably had to convince Iger to stay in any form...but he won't say that publicly...

Iger was making $66 million a year. He would ride this out to keep that money coming in. Iger is either sick or being forced to step down.

 

[Lumpy1106]

OUCH!
Down 4.82 today (2/25), and ANOTHER 3.04 since the market closed. That's close to -6% in 24 hours. Chapek can't be THAT bad, can he?

 

[MikeNamez]

Iger was making $66 million a year. He would ride this out to keep that money coming in. Iger is either sick or being forced to step down.

Or hes worth half a billion dollars and really doesn't need the income.

 

[hertamaniac]

OUCH!
Down 4.82 today (2/25), and ANOTHER 3.04 since the market closed. That's close to -6% in 24 hours. Chapek can't be THAT bad, can he?

Other factors such as the virus concerns pulled heavily on the market today. So hard to really quantify this announcement in terms of stock price reflection.

 

[rteetz]

And I'm looking forward to the WDW response to Epic Universe after the 50th. The new CEO better have a battle plan ready to compete against EU.

Potter barely made a dent in WDW overall. A new park likely will make another small dent but I am not sure Disney needs to respond in a huge way. Continual progression is what Disney should do. The Epcot overhaul will be mostly completed by the time Epic Universe opens.

 

[Linkura]

OUCH!
Down 4.82 today (2/25), and ANOTHER 3.04 since the market closed. That's close to -6% in 24 hours. Chapek can't be THAT bad, can he?

Oh you sweet summer child.......

 

[The Pho]

And I'm looking forward to the WDW response to Epic Universe after the 50th. The new CEO better have a battle plan ready to compete against EU.

Disney doesn’t really see Universal as competition enough to counter heavily these days. That park needs to be a huge game changer for it to really impact Disney enough to hurt. We won’t get more than a natural progression of what we’ve been getting.

The market is vastly different than when Eisner was countering Universal, SeaWorld, and Busch.

 

[TheMaxRebo]

And I'm looking forward to the WDW response to Epic Universe after the 50th. The new CEO better have a battle plan ready to compete against EU.

That would be one way to appease fans that think this move will mean less investment in the parks - quickly announce a 5th gate!

 

[hertamaniac]

Potter barely made a dent in WDW overall. A new park likely will make another small dent but I am not sure Disney needs to respond in a huge way. Continual progression is what Disney should do. The Epcot overhaul will be mostly completed by the time Epic Universe opens.

Potter was not a new park. VB did make a dent and captured MS. A new CEO should have multiple plans ready and available to execute once the numbers/impact EU brings. If not, then that's not a CEO I want running my company.

 

[rteetz]

OUCH!
Down 4.82 today (2/25), and ANOTHER 3.04 since the market closed. That's close to -6% in 24 hours. Chapek can't be THAT bad, can he?

Tomorrow might be a better representation but overall the market is down so hard to really say the impact.

 

[SensesFailed]

OUCH!
Down 4.82 today (2/25), and ANOTHER 3.04 since the market closed. That's close to -6% in 24 hours. Chapek can't be THAT bad, can he?

I mean the market overall is down today. The S&P 500 is down 3.03% and the Russell 1000 is 3.06%. And it was down overall yesterday as well. So I'm sure some of it has to do with the sudden announcement for after-hours trading, but with the overall markets trending down, it was probably going to happen no matter what.

 

[hertamaniac]

That would be one way to appease fans that think this move will mean less investment in the parks - quickly announce a 5th gate!

Oh..I'm not suggesting a 5th gate. But think there will need to be more substantial plans in place as opposed to if Universal did not have EU coming down the pipeline.

 

[rteetz]

Potter was not a new park. VB did make a dent and captured MS. A new CEO should have multiple plans ready and available to execute once the numbers/impact EU brings. If not, then that's not a CEO I want running my company.

And what if it doesn't? Its a big game of what ifs. If you think the answer is Disney open a 5th park I don't think that is the right answer.

 

[CastAStone]

That's funny, I never took Iger as a "creative" type of guy. Eisner had said that Iger didn't have his imagination to create things like he did.

I think Iger would agree with this actually. He talked in his book extensively about relying on creative people and letting them do their thing (giving the examples of John Lassetter and Kevin Feige and all of WDI) rather than being one himself.

 

[rteetz]

Oh..I'm not suggesting a 5th gate. But think there will need to be more substantial plans in place as opposed to if Universal did not have EU coming down the pipeline.

Disney always has substantial plans in the works. What gets approved is another question.

 

[rteetz]

https://twitter.com/x/status/1232433286124724224

 

[hertamaniac]

Disney doesn’t really see Universal as competition enough to counter heavily these days.

And that is perfect position for Universal to be in to more easily capture MS.

 

[Brianstl]

Or hes worth half a billion dollars and really doesn't need the income.

His net worth after the stock drop of the last few trading days is probably about half of what you think it is. He "only" owns a million shares of Disney. He is walking away from considerably increasing his net worth.

 

[AggieDizzer]

And I'm looking forward to the WDW response to Epic Universe after the 50th. The new CEO better have a battle plan ready to compete against EU.

Bring on the "Tragic Kingdom" villains park!!

Seriously though, they have so many plates spinning right now with the Epcot project that I doubt we'll see a 5th gate anytime soon. Honestly, I'd almost rather them put more investment into the parks they already have and bring the quality of those parks up...quality over quantity!

 

[Lumpy1106]

I mean the market overall is down today. The S&P 500 is down 3.03% and the Russell 1000 is 3.06%. And it was down overall yesterday as well. So I'm sure some of it has to do with the sudden announcement for after-hours trading, but with the overall markets trending down, it was probably going to happen no matter what.

The announcement timing was not accidental, so yes, I would say AT LEAST the after-market hours loss IS due to the announcement, 100%.
Seems like an over-reaction to me. I would expect a bit of a bounce at AM bell. Disney is not going anywhere.