News Bob Chapek Named CEO, "Effective Immediately"

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From @ballmathew (former head of strategy, Amazon Studios)
Summary of weird:
- Bob is 14 months into 36 month extension
- Didn't do this during blow-them-away earnings a few weeks ago
- No transition; immediate
- During Coronavirus parks/theatrical scare crushing stock
- Random Tuesday drop
- Comes after months of Iger's press tour

The new head guy-
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Disney stated - "A new head of Disney Parks, Experiences and Products will be named at a future time."

Almost makes you wonder -

deadline.com

Disney CEO Bob Iger Makes Presidential Pact With Jimmy Kimmel; No Comment On Donald Trump’s Disney Robot

Don’t expect Bob Iger to change his mind about not running for the U.S. presidency, unless maybe Jimmy Kimmel joins Oprah Winfrey is campaigning door to door for the Disney CEO. As for the possibility of removing Donald Trump’s animatronic doppelgänger from Walt Disney World’s Hall of Presidents...
deadline.com deadline.com
 
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Zachary said:
Maybe Bloomberg needs a VP? ?
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Iger won't play second fiddle. ?

This "effective immediately" stuff is weird. Some serious bad health or the DNC wants somebody to resolve the divide. Gonna be an interesting few days, that's for sure. I just hope my stock doesn't tank.
 
He's staying with the company until his contact ends next year. It could just be that he wants to start spending a little less time and they didn't want to have the speculation start to dominate the conversation like it probably would have starting soon
 
BGWnut said:
He's staying with the company until his contact ends next year. It could just be that he wants to start spending a little less time and they didn't want to have the speculation start to dominate the conversation like it probably would have starting soon
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I still think he's leaving to devote time for "other projects" while being available the next 22 months. I also think the "I'll be around" is to pacify stockholders.

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When he signed his last contact he said it would be his last and that he would be leaving the company when it's over
 
Turbo said:
Easy to jump to conclusions... but hasn't he basically been trying to leave for a few years now?
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Yes, he has been trying to leave. I remember he was going to leave before the Fox merger but then he ended up staying and promised he would leave after the Fox merger to oversee everything na make sure things move along swell before peaceing out.
 
WDWRLD said:
So wait.....Iger is back in charge? https://www.nytimes.com/2020/04/12/business/media/disney-ceo-coronavirus.html
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This doesn't mean he's taking his old title back. But, considering his time as head, it makes sense he'd take more control back since Chapek is new to the position.

From the article-
In an emergency like this, Mr. Iger said, he had no choice but to abandon his plan to pull back.

“A crisis of this magnitude, and its impact on Disney, would necessarily result in my actively helping Bob [Chapek] and the company contend with it, particularly since I ran the company for 15 years!” he said in his email.
 
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GrandpaD said:
He never "swooped out". He was remaining to aid in the transition. I think I rather have someone of Iger's knowledge, leadership and experience retake a more hands-on position and be the "company hero".
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Im not saying it’s not good for the company, actually I would gladly have him back at the top.
 
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