The Walt Disney Company's board announces Bob Chapek will step down as CEO and be replaced by Bob Iger for two years effective immediately; stock jumps 8%+
Disney's board of directors announced the move Sunday evening.
The Hollywood Reporter Alex Weprin
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Discussion
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@jacobrubashkin
Jacob Rubashkin
on x
Bob Iger just sent a company wide email telling all employees to print out their ten best pages of scripts and bring them to the 15th floor of Disney HQ by 1am for review
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@reedhastings
Reed Hastings
on x
Ugh. I had been hoping Iger would run for President. He is amazing.
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@dkthomp
Derek Thompson
on x
TLDR Bob Chapek did a bad job; but he did a bad job with a hand that Iger kinda dealt him. Iger is a genius; but he faces a huge challenge, with Disney transitioning between a declining profitable business and a growing unprofitable business.
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@dkthomp
Derek Thompson
on x
Iger-Chapek Reaction Thread 1. Holy shit.
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@scottgustin
Scott Gustin
on x
Bob Chapek was scheduled to introduce Elton John at tonight's concert currently streaming on Disney+, according to the Wall Street Journal. https://www.wsj.com/...
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@carnage4life
Dare Obasanjo
on x
Bob Iger's whiteboard after a midnight EST code review of the Disney+ app after ensuring everyone left at the company is “hardcore” https://twitter.com/...
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@panzer
@panzer
on x
Iger (and some key lieutenants) has plenty of responsibility for the state of Disney here and this isn't some sort of magic pill for a company in mid recession butttt - the last guy absolutely decimated Imagineering over a tax break. Reason enough to bring in the boot.
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@rickporter
Rick Porter
on x
I will read every single “how this happened” story, but especially the ones that get into how it came to be announced at almost 10 ET on a Sunday night. https://twitter.com/...
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@caseynewton
Casey Newton
on x
@kevinroose nightmare November continues https://twitter.com/...
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@gtwscar
@gtwscar
on x
I said on stream today that the winds were changing. The brand damage under Bobby paycheck was destroying creative spirit of company. You can't expect to milk your customers and expect them to come back over and over. Welcome back Iger. https://www.cnbc.com/...
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@levie
Aaron Levie
on x
You know the economy is wild when Bob Iger needs a job again
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@sdkstl
Staci D Kramer
on x
>>Other Disney employees said they were baffled by Mr. Iger's Sunday email and immediately began asking if the message to employees was real or if it came from a hacked email account.<< https://twitter.com/...
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@sub8u
@sub8u
on x
Meet the new Bob. Same as the old Bob. Also, friendly advise - if you are ever offered the role of a CEO and you have to follow a long-timer CEO, decline. 😉 https://www.ft.com/...
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@bchesky
Brian Chesky
on x
Bob Iger is one of the best CEOs in the world, and I hope he brings more creative experimentation back to Disney. Walt's last words in his 1966 shareholder letter explained why Disney didn't do sequels. I hope Bob balances existing franchises with more new ideas and stories https…
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@farhip
Paul Farhi
on x
Disney's market cap is $163.5 billion. Will be fascinating to see how much the market values the hiring of one guy (Bob Iger) in trading on Monday.
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@gritgrowthcap
@gritgrowthcap
on x
NEW: Email from Iger to the Disney team: “Anyone who can actually draw cartoons, please report to the 10th floor at 2pm today. Before doing so, please email me a bullet point summary of what your cartoons have achieved in the past 6 months” 1/
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@thr
@thr
on x
Even Bob Iger acknowledged the surprise of his return to Disney in an email to employees, writing that he comes back “with an incredible sense of gratitude and humility — and, I must admit, a bit of amazement” https://thr.cm/HxNmAJa
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@kimmasters
@kimmasters
on x
Disney will undoubtedly be re-organized (again). Creative execs rejoice. Kareem Daniels, not so much.
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@deadlinedominic
Dominic Patten
on x
Past all the smoke & fury, wisdom of Disney bringing Bob Iger back is going to face its first critical test tmrw when the stock market opens Is Wall St going to see a company leaning into trusted hands or one that is all over the map? And then there's stock price at close...
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@karaswisher
Kara Swisher
on x
Ahaha. God, the gulf of management talent between @RobertIger and Elon is as wide as Valles Marineris on Mars. https://twitter.com/...
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@carnage4life
Dare Obasanjo
on x
Bob Chapek being kicked out and Iger returning is a reminder that great companies treat fans as customers you strive to please not addicts you try to squeeze every dollar from. A good reminder for the powers that be at Twitter. https://www.sfgate.com/...
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@benfritz
Ben Fritz
on x
“Other Disney employees said they were baffled by Mr. Iger's Sunday email and immediately began asking if the message to employees was real or if it came from a hacked email account.” https://www.wsj.com/...
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@scottgustin
Scott Gustin
on x
Many top Disney execs learned of the news by reading the Sunday email - some of them reading it on their phones while at Elton John's concert. According to the WSJ, negotiations between Iger and Disney started “in recent days.”
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@lucas_shaw
Lucas Shaw
on x
While Bob Iger privately criticized Bob Chapek all year, there was 0 reporting in recent months suggesting he was coming back as CEO. Remarkable that Disney kept it under wraps.
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@davejorgenson
@davejorgenson
on x
He's back but rebranding as Bob Iger+
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@big_business_
@big_business_
on x
Bob Chapek said animation is for kids not for adults and 2 weeks later he got fired and replaced by Bob Iger.
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@jeff_delgado
Jeff Delgado
on x
Well it's obvious Chapek was used to do all the bad shit Iger didn't want to get blamed for. https://twitter.com/...
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@bchesky
Brian Chesky
on x
Bob Iger is one of the best CEOs in the world, and his return is a game changer for Disney, and all the creative people who work at the company.
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@bdsams
Brad Sams
on x
Dramatic reenactment of how they convinced Iger to return. https://twitter.com/... https://twitter.com/...
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@reckless
Nilay Patel
on x
Iger coming back to Disney is the biggest “roll back the org chart changes” story in business history. We're going to have to do like a five hour Decoder
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@stevekopack
Steve Kopack
on x
News that Bob Iger was coming back as CEO landed in Disney executive's inboxes while they were together at Dodger Stadium where the ousted CEO Chapek was set to introduce Elton John on a live Disney+ stream, per WSJ. (Instead a host for the Dodgers TV network introduced John) htt…
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@karaswisher
Kara Swisher
on x
I'll tell you 1 thing: If Bob Iger asked me for $8 for a product, it'd be worth it. And he'd never capriciously & malignantly re-platform stone-cold racists & antisemites & then bear hug them. Or make fun of people he'd fired. Or tweet dumb/dirty/juvenile memes. You get the idea.…
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@eugenewei
Eugene Wei
on x
Iger's return reminded me of that crazy time when Disney thought for a moment that the streaming tech platform they needed to own was Twitter(?!) https://twitter.com/...
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@jbflint
Joe Flint
on x
Disney CEO Bob Chapek was supposed to introduce Elton John at Dodger Stadium concert streamed on Disney+. Instead it's Bob Iger singing I'm Still Standing. https://www.wsj.com/...
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@thatrebecca
Rebecca Keegan
on x
The One True Bob, First of His Name, King of the Nine Old Men, Lord of Burbank, Protector of the Mouse