The Walt Disney Company announced that former CEO Bob Iger was named CEO by the Disney Board of Directors after Bob Chapek was seemingly fired from his position.
The press released added, “Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Iger succeeds Bob Chapek, who has stepped down from his position.”Disney Chairman of the Board Susan Arnold stated, “We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic.”
She continued, “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.”
“Iger has the deep respect of Disney’s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide—all of which will allow for a seamless transition of leadership,” Arnold added.
Iger released his own statement saying, “I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO.”
“Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe—most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling,” he added.
This move comes shortly after The Walt Disney Company’s poor fourth quarter earnings results. Yahoo! Finance’s Jared Bilkre commented on the company’s report saying, “Well, misses all around, at least on the top three key numbers here.”
He explained, “So subscribers for Disney+, that’s one of the big ones. That’s where the focus is– $118.1 million, that’s up 1.8% quarter over quarter. But it is short by about a million and a half of what Wall Street was expecting. That exact number is $119.6 million.”
“Adjusted EPS coming in light as well– $0.37, versus an estimate of $0.49, so off by about $0.12 right there,” he continued. “Revenue also missing– $18.53 billion. That’s up almost 9% quarter over quarter, but a little bit short of the Wall Street estimate, $18.78 billion.”
The Walt Disney Company has been committing seppuku over the last decade or so under the leadership of both Iger and Chapek. The company went out and purchased male-oriented brands in Lucasfilm and Marvel and turned them into female-oriented brands driving away customers both at the box office and in retail purchases.
On top of feminizing their male-oriented brands, the company has dived head long into radical woke politics with Bob Chapek arguing in favor of the company grooming small children in sexual orientation and gender ideology from kindergarten through third grade through their children programming.
Maybe one of the biggest blunders was putting all their chips into the Disney+ streaming service and cutting off licensed revenue to other streamers such as Netflix, who previously paid big dollars to get the Marvel Cinematic Universe and other Disney films and television programming.
They also led unethical and immoral political witch hunts against their own actors such as Gina Carano who did not conform to the lies spread by the government and the media regarding COVID-19.
YouTuber Gary Buechler of Nerdrotic commented on Iger’s return saying, “If you think this is going to change Disney’s ways, you’re f***ing crazy. You’re crazy. It’s going to be more of the same. Everything that we’ve been watching Bob Iger initiated. So don’t think this s**t is going to change.”
He also indicated he spoke to an anonymous insider. Buechler elaborated on what this insider told him, “I just got off the phone with somebody who I can’t tell you right now, who just told me if you think things are bad right now, wait until the next couple of years they are getting so much worse.”
Manhattan Institute fellow and the journalist who exposed much of Disney’s Reimagine Tomorrow campaign and its grooming agenda, Christopher F. Rufo, claims the firing of Chapek is a “rebuke of woke leadership.”
He wrote on Twitter, “Disney has fired CEO Bob Chapek, who pushed critical race theory and gender ideology in the company’s programming and employee training. Huge rebuke of woke leadership.”
In a follow-up tweet he added, “After Chapek’s disastrous fight with Gov. Ron DeSantis, Disney+ domestic subscriber growth collapsed, public approval dropped, and the stock price plummeted. Other causes contributed (economy, streaming saturation), but timing suggests they paid a price for the DeSantis fight.”
What do you make of Disney’s move to bring back Iger and oust Chapek?