Disney has extended CEO Bob Chapek’s contract for three more years, the company announced Tuesday.

[Takket]

we haven't been back since the pandemic began. have a reservation for October, and honestly, I'm just not feeling the magic anymore. Probably going to cancel. Don't like anything Chapek has done to Disney.

 

[TsWade2]

Looks like more corruption than ever! Something must be done about this!

 

[Devil13]

Kinda had a feeling this was coming when that sad excuse for a Christmas party last year kept selling out. WE are the problem.

 

[TsWade2]

Never mind.

 

[gharter]

Kinda had a feeling this was coming when that sad excuse for a Christmas party last year kept selling out. WE are the problem.

Very true. With the parks making huge amounts of money now, the stock price dropping doesn't make sense. While park maintenance seems lower and park complaints are up, as long as revenue was up, he was going to stay. I have seen the problem and it is us. As long as we all go and spend money (and more of it) there is no reason to make a change.
I suspect when EPIC Universe opens and the crowds at WDW decline, then suddenly they will need to change course, but not till that happens.

 

[Suger Mag]

Can't wait until Feb 23. Going to get the best of both worlds.... WDW and Universal.
WDW will be fine. Maybe some disgruntled fans will go away, but new fans will take their place. Sometimes I dont blame WDW for not catering to the folks who seem to never be happy and expect things never to change.

Covid and the pandemic has thrown a wrench into the works for a great many entities in the world, going to take a while for things to smooth out and run like they did pre-pandemic. If you expect or expected that everything is somehow going to be magically exactly the same or not change during and after a pandemic, then you are very unrealistic.

Folks pretending that Disney was never political before this year, really have not been paying attention to the history of the company.

 

[Douglas Dubh]

Everyone seems to be talking about WDW but Disney is a lot more than just that.

 

[AurumPunzel]

Well, as long as the board are happy with short term profits, then they'll always be in favour. Yet there's been so much discontent with the direction Disney is going in at the moment, it really boggles the mind as to why they'd rather keep Chapek in power.

 

[Jrb1979]

Well, as long as the board are happy with short term profits, then they'll always be in favour. Yet there's been so much discontent with the direction Disney is going in at the moment, it really boggles the mind as to why they'd rather keep Chapek in power.

He is doing everything they have always wanted.

 

[thejaxx]

Having been to WDW and DL each year since 2009, DL for the 5 years before that, and then foreign parks, the wife and I have decided we will no longer give our money to them. We’ve cancelled the auto renewal of D23, as well.

This CEO is only concerned about milking every cent he can. It’s no longer even affordable to go with having to buy the tickets AND pay for rides on top of it. The shows now lack quality and substance, as well.

It’s no longer Disney, but Di$ney.

 

[gharter]

Was watching a Vlog yesterday that had some interesting ideas about Chapek.
Their view was he came in just before the pandemic hit and the parks shut down. He inherited a huge debit from the Fox purchase. Those things were all out of his control. His first goal was to right the ship financially. Now that seems to be happening. The BIG question now, is will he start putting money back into the parks again?

 

[AurumPunzel]

Was watching a Vlog yesterday that had some interesting ideas about Chapek.
Their view was he came in just before the pandemic hit and the parks shut down. He inherited a huge debit from the Fox purchase. Those things were all out of his control. His first goal was to right the ship financially. Now that seems to be happening. The BIG question now, is will he start putting money back into the parks again?

With the amount of price hikes, it definitely needs to be justified, and eventually, the hikes should zenith to the point that Disney starts to make things more affordable.

 

[RamblingMad]

With the amount of price hikes, it definitely needs to be justified, and eventually, the hikes should zenith to the point that Disney starts to make things more affordable.

They'll be discounts in the next couple of years as inflation eats into families vacation budgets. Airfare is already crazy high this year.

 

[wabbott]

The BIG question now, is will he start putting money back into the parks again?

Surely he's smart enough to know that the company cannot neglect many billions of dollars of infrastructure that requires continual maintenance. And yet the parks are the most consistent profit center in the entire company. There's a thread from yesterday that told about almost all the attractions in DCA were down yesterday. That kind of operation is not acceptable.

 

[BrightMorningStar]

Yeah, no. I finally quit going, until things get better there.

Same here. We sold our DVC and made all of our contract money back.

 

[BrightMorningStar]

Everyone seems to be talking about WDW but Disney is a lot more than just that.

Well, this is a theme park forum primarily, so that is the angle the members come from. That is the concern. That is where they are getting hit the most.

 

[gharter]

Same here. We sold our DVC and made all of our contract money back.

We sold one of our contracts. The price had increased enough that we got back all of the money we paid for the contract, dues for 6 years and money left over. Felt pretty good about 6 years of resort stays for free.

 

[randumb0]

Everyone keeps talking about the stock price but practically every company's stock price is down. I don't see that as a reason to get rid of him and this is someone that wants to see new leadership

 

[MrWonderful]

Everyone keeps talking about the stock price but practically every company's stock price is down. I don't see that as a reason to get rid of him and this is someone that wants to see new leadership

The stock price is down at a factor of 1.7x relative to the market.... just sayin'

 

[Sweettears]

Having been to WDW and DL each year since 2009, DL for the 5 years before that, and then foreign parks, the wife and I have decided we will no longer give our money to them. We’ve cancelled the auto renewal of D23, as well.

This CEO is only concerned about milking every cent he can. It’s no longer even affordable to go with having to buy the tickets AND pay for rides on top of it. The shows now lack quality and substance, as well.

It’s no longer Disney, but Di$ney.

The CEO is directed by the company’s strategic plan which is adopted by the board of directors. Since we don’t have access we can’t say whether or not cost cutting is part of the plan or if a certain level of profitability is the goal