Disney announced on Sunday night that CEO Bob Chapek had left the company and would be replaced by his predecessor Bob Iger. Chapek’s exit came after a tumultuous few months that saw Disney underperform its expected earnings.
Chapek oversaw a period of rapid growth in expenses at Disney’s streaming service and a controversial rise in the costs to consumers at all levels of interaction with the entertainment giant. Chapek’s resignation comes shortly after the parks announced changes in cost and further restrictions on park passes.
[content-1] “We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said Disney board chair Susan Arnold in a news release announcing the move.
Iger will take over for two years and has the “mandate of the board” to shape the future direction of the company. During Iger’s previous term, Disney grew into the all-consuming media giant it currently is. He led the company through acquisitions of Pixar, Star Wars, Marvel and 21st Century Fox.
[content-4] “It is with an incredible sense of gratitude and humility — and, I must admit, a bit of amazement — that I write to you this evening with the news that I am returning to The Walt Disney Company as Chief Executive Officer,” Iger wrote in an email to Disney employees. “When I look at the creative success of our teams across our Studios, Disney General Entertainment, ESPN and International, the rapid growth of our streaming services, the phenomenal reimagining and rebound of our Parks, the continued great work of ABC News, and so many other achievements across our businesses, I am in awe of your accomplishments and I am excited to embark with you on many new endeavors.”
An era of increasing costs and fewer services made Chapek few friends among the die-hard Disney community. As such, the reactions to Iger’s return were mostly celebratory (with a few jokes about another CEO making headlines thrown in for good measure).
If I went to a wedding like this, I too would be talking shit about it… fuck you mean you’re not providing catering??? At a WEDDING?? pic.twitter.com/12OMKlQogu— Ash (@theashrb) June 5, 2022I just can’t stop thinking about how it costs $5500 for an hour of Mickey and Minnie’s time at a Disneyland wedding https://t.co/R9cQMTN9MJ— Cody (@codybondarchuk) June 8, 2022I am being so serious rn when I say we are not bullying Disney adults enough https://t.co/N9FhTQyMat— Jacob (@redmagejacob93) June 7, 2022 Credit: Universal Orlando Resort unveils a very unique new portal at its park.my brain cannot comprehend this, in theory I should be ok with it, but I cannot process it, imagine going to an Indian wedding and there is NO FOOD, there would also be no marriage in fact there would be riots, in fact if it was Haryana there would be gunfire, and about 6 murders https://t.co/KcBqpeMEZR— Shiv Ramdas Traing To Rite Buk (@nameshiv) June 7, 2022"There is food available nearby?" NOJODA! https://t.co/HecWBn2Ikj— lili_pl (@lili_pl) June 7, 2022sorry but saying "disney is a huge part of our marriage" sounds no different to me than "taco bell is a huge part of our marriage". "pfizer is a huge part of our marriage". it's weird to have this much brand loyalty https://t.co/N0nYbJxCNA— ゲロに浸した死体 (@CATACLYSTA) June 8, 2022There’s nothing more American than building a religion on a foundation of racism and labor exploitation. https://t.co/zoKRi1sGsR— KARLI MARXCX ✡️🇵🇸🤦🏽♂️ (@EvelKneidel) June 8, 2022“Disney adults see Mickey Mouse as God actually” might be the weirdest and most ineffective defense of Disney adults I’ve ever seen. https://t.co/R9ZFDyojTa pic.twitter.com/67HtdLr73M— DefinitelyNotArms (@NotHeaviestArms) June 7, 2022Maybe Mooby The Golden Calf from the movie Dogma wasn’t on the nose *enough* https://t.co/LDW8Fu4qYl pic.twitter.com/mtRzrByRRQ— isi baehr-breen (its pronounced ‘izzy’) (@isaiah_bb) June 7, 2022"There's nothing wrong with Disney adults, they're just two steps away from worshiping a corporate mascot as their god" is not the reassurance you think it is Jodi https://t.co/b8k7Zodi2i— Γγ ☕🪶💀🦋⌛🧟♀️🪄😈🎲 (@gammashitlord) June 7, 2022I'm a religious studies professor researching Moloch and I'm here to tell you why to stop pathologizing ritual child sacrifice https://t.co/8gZDQM3KpG pic.twitter.com/EgnsGhlquw— rules-based international zachary (@TomKhruisehchev) June 7, 2022me, pathologizing Disney adults AND religion as cringe https://t.co/0tEUtjvduc pic.twitter.com/Llbdf9S7lu— les 👾 (@tweet__les) June 7, 2022I'm a religion studies professor researching Disney and this is Jackass https://t.co/Ex6QvEcfbV— hyperinflation fetishist (@oinkophobia) June 7, 2022I hope the rat company burns to the ground. I hope disney world sinks into the swamp and Disneyland falls into an earthquake chasm. I hope every classic character becomes public domain. I hope that antisemitic fuck really did freeze his head so I can punt it. https://t.co/QnqRIy0g4J— Zane Schacht – Voice Goblin (@VoicesByZane) June 7, 2022This just makes me want to hate Disney adults even more. https://t.co/eRiFLKnHCU— Ash the Gay Snake (@NannerNeff) June 7, 2022People shouldn’t bully “Disney adults” because it’s pointless and mean-spirited, but the religious devotion to a conglomerate that does not love you but wants your money is most certainly pathological and worth examining. Max Weber (cited in the below thread) would agree. https://t.co/0T0jhiBaLo— Aren R. LeBrun (@proustmalone) June 7, 2022i'm sorry but at some point you have to stop yourself and sincerely ask if people having sincere, actual religious faith in a for-profit corporation that controls most American media properties is really the kind of world you want to live in https://t.co/6vvedYFo39— 「𝘁𝗮𝗿𝗮𝗰𝗵𝗮𝗿𝗮」 (@tara_chara) June 7, 2022Current Disney CEO Bob Iger (left) and former CEO Bob Chapek Credit: Photo via Walt Disney Company
