Bob Iger Returning as Disney CEO; Bob Chapek Fired by Board

Alex Weprin, reporting for The Hollywood Reporter:

In a stunning turn of events, The Walt Disney Co. says that Bob Chapek will step down as CEO, with Bob Iger returning to lead the company. Disney’s board of directors announced the decision Sunday night.

Not just Sunday night, late Sunday night. There was some Succession-style drama going on behind the scenes at Disney this weekend. “Effective immediately” is not a phrase major corporations apply lightly.

Chapek had just signed a new multi-year contract in June, after speculation following the ouster of TV chief Peter Rice earlier that month prompted the board to issue a notable public statement backing the CEO after the move.

Iger even acknowledged in an email to Disney employees Sunday that he is returning “with an incredible sense of gratitude and humility — and, I must admit, a bit of amazement.”

Netflix co-CEO Reed Hastings, in a tweet after the news broke last night:

Ugh. I had been hoping Iger would run for President. He is amazing.

That, my friends, is a how a CEO should wield humor on Twitter. Deftly, and with class.

★ Monday, 21 November 2022