Bob Chapek Named CEO of The Walt Disney Company

[rodrigo_ca]

https://www.businesswire.com/news/home/ ... 005990/en/

Effective immediately, Bob Chapek is the new CEO of The Walt Disney Company. Bob Iger will remain as Executive Chairman until 2021, directing Disney's "creative endeavors".

oh well

[JeanGreyForever]

What do we know about Bob Chapek again? I think some people here had a less than favorable view of him but I can't remember why.

[Big Disney Fan]

What do we know about Bob Chapek again? I think some people here had a less than favorable view of him but I can't remember why.

I think it has to do with the notion that he is a skinflint and beholden to shareholders and gun-shy about spending money, at least as far as the parks are concerned.

[JeanGreyForever]

What do we know about Bob Chapek again? I think some people here had a less than favorable view of him but I can't remember why.

I think it has to do with the notion that he is a skinflint and beholden to shareholders and gun-shy about spending money, at least as far as the parks are concerned.

The shareholders thing doesn't sound exactly unique to just him but that's a pity about the parks.

[UmbrellaFish]

Well, that seems... sudden. I know Iger was going to retire but right now? Is this usual for big companies? Was this announcement apparent to anyone paying attention?

I didn’t meet him, but I saw Chapek once at the Magic Kingdom near the flagpole.

[Sotiris]

Iger's contract doesn't expire until the end of 2021. Why did he decide to step down as CEO now?

Anyway, here's the press release straight from the horse's mouth.

Bob Chapek Named Chief Executive Officer of The Walt Disney Company
https://thewaltdisneycompany.com/bob-ch ... y-company/

[Big Disney Fan]

Iger's contract doesn't expire until the end of 2021. Why did he decide to step down as CEO now?

Probably to make sure Chapek doesn't mess up in any way, whatever it may be.

[Sotiris]

Well, that seems... sudden. I know Iger was going to retire but right now? Is this usual for big companies? Was this announcement apparent to anyone paying attention?

No, it definitely caught the industry by surprise. People are speculating that Iger stepped down as CEO now so as not to take the fall for this year's anticipated decline at the box office and be associated with last year's peak.

[DisneyJedi]

Well, that seems... sudden. I know Iger was going to retire but right now? Is this usual for big companies? Was this announcement apparent to anyone paying attention?

No, it definitely caught the industry by surprise. People are speculating that Iger stepped down as CEO now so as not to take the fall for this year's anticipated decline at the box office and be associated with last year's peak.

“Box office decline”? What are you talking about?

Also, should we really be worried about Chapek?

[Rumpelstiltskin]

A new Bob is taking over for the old Bob.

From happier times:

[estefan]

No, it definitely caught the industry by surprise. People are speculating that Iger stepped down as CEO now so as not to take the fall for this year's anticipated decline at the box office and be associated with last year's peak.

“Box office decline”? What are you talking about?

The overseas box-office is expected to take a hit, due to the coronavirus epidemic. The movie theatres are still closed in China for the foreseeable future and now theatres in South Korea and Italy are starting to shut down as the virus spreads to other countries.

Disney's slate last year also featured some of the company's biggest brands (Toy Story, The Lion King, Aladdin, Avengers, Frozen, Star Wars) and that helped them score a record 2019. 2020 has a lot of promising titles coming from Disney, including the two Marvel movies, the two original Pixar films, "Mulan" and "Raya and the Last Dragon." But there are also potential risks like "The One and Only Ivan" and "Artemis Fowl" opening and "Jungle Cruise" could go either way (though I'm predicting that one to be a hit). This isn't getting into the 20th Century Studios titles they will be releasing. I'm predicting Free Guy, West Side Story and Death on the Nile to be the biggest successes from that label.

I think Disney will still have a successful year. Just not on the heights of last year, although I think it's a little unfair to put that kind of pressure on Disney. That was a rare in a lifetime full house deck Disney showed in 2019 and it will be a long time before any movie studio has that level of success in a single year.

[Big Disney Fan]

“Box office decline”? What are you talking about?

The overseas box-office is expected to take a hit, due to the coronavirus epidemic. The movie theatres are still closed in China for the foreseeable future and now theatres in South Korea and Italy are starting to shut down as the virus spreads to other countries.

Wow, this is like back at the outbreak of World War II, which had cut off foreign markets and not allowed "Pinocchio" and "Fantasia" to be released widely abroad, which contributed to their box office failures and thus Disney's precarious financial situation at the time. It was those foreign markets that helped drive the success of Mickey Mouse and "Snow White".

On a slightly unrelated matter, the coronavirus is also threatening to cancel this year's Olympics if it's not controlled by May. I have been told, however, that the containment may take some 18 months, so I am not optimistic.

[Farerb]

I heard that it will be over in summer just like any other flu virus, but might come back next winter. Hopefully they'll find a vaccination by then.

[JeanGreyForever]

Apparently it's likely to come into the US unlike what our "stable genius" of a president stated, that it would all be over by April.

[Rumpelstiltskin]

Not sure if it is just gossip and speculations, or if it could have some relevance:

After filing a sexual misconduct lawsuit against Harvey Weinstein, Paz de la Huerta added several prominent members of Disney’s board of executives to the suit, according to Vanity Fair. The lawsuit states that Iger helped Weinstein, former Disney CEO Michael Eisner, and Pixar head John Lasseter create a culture that fostered workplace sexual harassment. Huerta is suing Iger for violation of federal sex trafficking statutes for his involvement with Weinstein.
A representative of Disney told The Hollywood Reporter that “The Weinsteins operated and managed their business with virtual autonomy,” making sure to add that “There is absolutely no legal basis for claims against the company and we will defend against them vigorously.”

[Big Disney Fan]

I heard that it will be over in summer just like any other flu virus, but might come back next winter. Hopefully they'll find a vaccination by then.

Yes, but by then, it may be too late for the Olympics. They will be making a decision in May, before the summer.

It should also be noted that not only did World War II cancel the Olympics of 1940 and 1944, but World War I had also canceled the Olympics of 1916.

I also saw it in a video that the coronavirus may not be over for 18 months.

[Disney's Divinity]

I think Disney will still have a successful year. Just not on the heights of last year, although I think it's a little unfair to put that kind of pressure on Disney. That was a rare in a lifetime full house deck Disney showed in 2019 and it will be a long time before any movie studio has that level of success in a single year.

Uh... Nobody is putting that pressure on Disney here? Sotiris merely speculated this was Iger's reasoning for leaving. Funny, this isn't the first time you've negatively mischaracterized posters in order to prop up Disney's interests / agenda.

[estefan]

That wasn't in direct response to anyone here. The general consensus among box-office analysts and business insiders is that Disney won't match their record performance in 2019 and I actually agree with that assessment. In fact, I'm even predicting Warner Bros will be the #1 studio in 2020 as I find their slate has more potentially successful movies than Disney does this year.

But the truth is Disney's 2020 was mammoth and an example of Bob Iger putting all of the chips on the table. They were the first movie studio to make over $10 billion in a single year and I don't think anyone will reach that number again for a while, including Disney. I'm sure there will be articles at the end of the year saying Disney had a down year, but any studio would have a down year after reaching those unprecedented numbers.

[Farerb]

I just don't find it at all achievable or impressing. Bob Iger used all of Disney's arsenal in one year so no surprise it passed $10 billion. But to me all the films released in 2019 ranges from bad to mediocre. Nothing really spectacular, nothing to be remembered or to make history, so...like I said, not impressed.

[JeanGreyForever]

Not sure if it is just gossip and speculations, or if it could have some relevance:

After filing a sexual misconduct lawsuit against Harvey Weinstein, Paz de la Huerta added several prominent members of Disney’s board of executives to the suit, according to Vanity Fair. The lawsuit states that Iger helped Weinstein, former Disney CEO Michael Eisner, and Pixar head John Lasseter create a culture that fostered workplace sexual harassment. Huerta is suing Iger for violation of federal sex trafficking statutes for his involvement with Weinstein.
A representative of Disney told The Hollywood Reporter that “The Weinsteins operated and managed their business with virtual autonomy,” making sure to add that “There is absolutely no legal basis for claims against the company and we will defend against them vigorously.”

I wasn't aware that Michael Eisner was considered part of the problem as well. Is anyone else here aware of any harassment allegations against him?

That wasn't in direct response to anyone here. The general consensus among box-office analysts and business insiders is that Disney won't match their record performance in 2019 and I actually agree with that assessment. In fact, I'm even predicting Warner Bros will be the #1 studio in 2020 as I find their slate has more potentially successful movies than Disney does this year.

Agreed, I've seen this over and over and to anyone paying attention to Disney's output this year, it's obvious it won't match 2019 at all. It's hardly an agenda to point that out.

The Batman will certainly help boost WB's numbers. If Fantastic Beasts was still being released this year that would have helped as well.