Chapek out as CEO!

[Lori Duck]

It only took a 50%+ drop in the stock price to get the bumb out.

Bought more last week, yup, hope y'all did too!

 

[kilik64]

Im not sold that Iger is the lord and savior returning, but hey he can’t do worse than Chapek.

 

[Tigger2ntinkerbell]

Why did it take soooo long for him to be booted out???

 

[RanDIZ]

Of course it did but many of the current plans were put in place, or planned, before Covid. Covid accelerated plans and let them do things that would have been really hard to implement without even worse backlash. In many ways, it helped them do a lot that they wanted. It set them back, financially, and canned a lot of projects (probably for the best) but they were set on course for much of this a while ago. The delays probably did more to the stock price than anything else. Epcot is a mess because it's taken so long. Most rides are a year or more delayed but a lot of stuff that went in, went in poorly. I'm happy to spread a lot of blame around between them all.

Theme parks aren’t to blame. That’s what’s keeping DIS alive and fueling its growth. And they’re still not at full strength. It’s also what’s funding DIS+. They decided to take a left turn and put out some horrible content and at a snails pace unlike NFLX and AMZN. DIS has its ip which is what they need to capitalize off of. And they have for the most part. There’s no point in trying to reinvent the wheel.

 

[RanDIZ]

Why did it take soooo long for him to be booted out???

Yea seriously, I don’t even think the ink was dry on his extension as CEO.

 

[ParkHoppers]

How hard is it to just follow the lead that Tokyo Disney has put forward as far as the domestic parks. And pull back some dough from Disney+ to do it. I am a dreamer after all……

 

[Sammie]

But then Chapek went off the rails and he and Iger had a falling out. Iger regretted the decision. Hopefully he'll get someone better next time.

Did he regret it, or was that PR spin?

 

[Duckbug.Ducktales]

Did he regret it, or was that PR spin?

He regretted it deeply. He has said so in several occasions. Also, Hollywood press has documented the falling out between the two.

 

[Sammie]

He regretted it deeply. He has said so in several occasions. Also, Hollywood press has documented the falling out between the two.

Or did Iger not want his legacy at Disney to be that he hand picked Chapek. I know they had a falling out but I think it was all about Iger's wanting to cut the ties so he would not be blamed.

 

[PolyRob]

Say what you will about Iger, but I trust him a lot more than Chapek because he values creativity. I don't think we'd see as many studio issues or imagineering cuts under Iger's direction. Iger's statement mentioned "storytelling" numerous times which should help Disney back on the right path.

 

[MICKIMINI]

My Disney prayers have been answered! Bring on a new era and get some energy back, take some soap and water and scrub those parks... It's about time!

 

[ITGirl50]

That’s great news!

 

[tony67]

Be there at the onset of covid.

"Retire" as it starts to fall. Let some scapegoat you appoint take the fallout.

Come "to rescue" to sinking ship and likely drive a hard bargain in doing so.

Brilliant.

I would love to see what the comp package looked like. I bet it set records.

There was a lot of speculation from the start that this is exactly what was going to happen

 

[Spivey378]

The main problem is streaming. It lost $4 billion over the last year. Yikes. That needs to be figured out fast. Hopefully the ad tier helps. Maybe pay for early access to shows and content? They need to get creative to turn Disney+ around.

 

[WilsonFlyer]

Funny it hasn't come up yet. Josh has taken some "forks in the road" since going to work for paycheck. I wonder what this will mean to his career at Disney and should he continue to serve in the capacity he has for the last couple of years, will he morph back or morph into something entirely different.

 

[BigEeyore]

SO happy to wake up to this news today! I am skeptical that Iger can turn things around though - I will try to be cautiously optimistic for now.
How great would it be if Iger came out and made a big speech, acknowledging the wrong turn the company has taken, and that he was listening to the lifelong fans and understood our concerns? But I just don't see it happening.

 

[nick p]

Massive news in the entertainment space and, with ESPN, in the sports world

 

[BWV Dreamin]

The main problem is streaming. It lost $4 billion over the last year. Yikes. That needs to be figured out fast. Hopefully the ad tier helps. Maybe pay for early access to shows and content? They need to get creative to turn Disney+ around.

And with that can he improve the overall content? IMO “Andor” is awful.

 

[MinnieSueB]

Hallelujah!!! So glad Cheapek is gone but let's see what Iger does with the parks. Day 1 - Get rid of the Park Reservation System!!!

 

[sethschroeder]

One thing that might spur some changes is that Iger can use his taking over again to further buy capital from Disney fans by simply changing 1 or 2 things with parks.

( maybe not so good for short term stock gains)

I think it was done because of short term stock gain potential.

Additionally if you own DIS you might want an economic outlook of the world for 2023 and that recreational spending possibly goes on the chopping block during harder times for people.

Covid accelerated plans and let them do things that would have been really hard to implement without even worse backlash.

Eh I dont think so. I honestly don't think some of the things were really even a thought until COVID happened. Example Park Passes never was needed as it is a solution to park capacity, CM shortages, and demand creation in specific parks. None of those were issues prior to Covid.

Bought more last week, yup, hope y'all did too!

Just be prepared for additional regression depending on the economy in 2023 with short terms bumps because of new leadership.