Chapek out - Iger back

[DonMacGregor]

The move alone has already boosted the stock without any operational changes being made. Iger inspires confidence, which is what really sets him apart.

Which one do you trust? Which one displays an easy confidence and which one looks smirky and uncomfortable?

 

[Aprilshack]

I love people, all people. I have empathy for all who suffer. I don't like seeing anyone getting fired. Rich or poor. Big time or small potatoes. It's just no fun to see. But, I'm made differently than most people. I'm really happy that I'm cut from a different cloth than everyone else, and I'm thankful for my grandma for raising me to love one another.

Happy Thanksgiving, Aprilshack. I hope you have a safe and wonderful holiday.

I’m from the uk and don’t celebrate Thanksgiving but thanks anyway!

 

[MillauFr]

Yeah I am curious to how they're gonna handle the recession (that we're already in) once it's "official"....

If we are as you claim in a recession that bodes pretty poorly for the parks. They are slammed and prices are going through the roof. Once we climb out of the recession wouldn't you expect even more demand for the parks?

 

[MillauFr]

View attachment 720412

Which one do you trust? Which one displays an easy confidence and which one looks smirky and uncomfortable?

I would trust the wookie who is just outside of this picture....

 

[Beachmom0317]

I don't think there will be sweeping changes in the parks but I think a few big things will come to the parks to show a change in image

 

[Obi-J Kenobi]

I’m from the uk and don’t celebrate Thanksgiving but thanks anyway!

Well, in that case, enjoy World Cup. I'm from across the pond where no one really cares about soccer other than about 10,000 die hards.

 

[Obi-J Kenobi]

View attachment 720412

Which one do you trust? Which one displays an easy confidence and which one looks smirky and uncomfortable?

I would prefer to see where these gentlemen's hands are located and what they may be holding before I answer these questions.

 

[Disneylover99]

View attachment 720412

Which one do you trust? Which one displays an easy confidence and which one looks smirky and uncomfortable?

Iger is giving off Hugh Hefner vibes with that sweater and Chapek reminds me of an unmasked Darth Vader.
So, I don’t know who to trust.

 

[Aprilshack]

Well, in that case, enjoy World Cup. I'm from across the pond where no one really cares about soccer other than about 10,000 die hards.

I’m not bothered about the football either tbh!

 

[BrightMorningStar]

I am amazed at all of the praises about this. All of the nonsense that has "ruined" Disney started with Ogre (Iger) and has continued on with Bob Paycheck (Chapek). The current economy is of course to blame as well, but the high prices, cutbacks, etc did not start with Chapek. We were all complaining about it when Iger was doing it as well.

 

[HopperFan]

Agreed - not really sure why Chapek was replaced, but whatever happened they weren't left with a lot of choices. The real direction change will be 2 years from now when they select the longer term CEO, thats why I was wondering if Josh goes onto the short list of replacement CEOs, or do they hire someone from the outside. They definitely need someone with creativity and a customers first and foremost mindset leading the company for the long term.

I appreciate all the love for Josh but he has the same problem that Chapek had, a narrow resume with no experience needed to steer the ship. The areas that need the most help are the Movie Studios, Genie+ etc - non on Josh's resume. My hope is that he stays in his position but with some control and power that clearly was taken with Chapek when he got the job.

You're probably right - just hoping There are some things they could potentially do like getting rid of park pass, park hopping restrictions, etc. That wouldn't necessarily cost them anything or lose revenue - but could improve guest satisfaction.

Hopefully though some additional investment in the parks, maybe a response to Epic Universe

Actually park reservations have allowed them to pack even more people into the four parks, making them lots more money. I don't think they will give up on there and honestly I think they are workable with other changes.

As much as I hated Chapek, he was thrown into a crappy situation and made it worse. The debt of acquiring FOX and the money pit of Disney+ is really hurting the company.

And that is 1000% on the Board who knew well what his resume said. Then they let him have way too much control, let him restructure the company to his benefit and watched as it swirled the drain.

So happy about this move. Iger is a visionary. He’s not perfect but he’s the reason Disney is where it is.
I hope they focus on the Movie Studios and start rebuilding their relationships with the Artists. And invest back into imagineering. Very few of disney new developments have had the same level of detail as they had in the past. Chapek never understood Disney. He didn’t understand the personal relationship people have with the stories.
It’s a lot different then taking over Sony Studios or even Universal.

Agree and I think that will be his focus, not the parks.

Park wise josh d'amaro should go too. He is the one that has implemented all the changes. Yet avoids criticism

Disagree. Yes he "let" these things happen you have to look at Chapek's management style. Day one he completely restructured the ladder and removed power from positions including Josh. At that moment was when Iger let the Board know that they might have made a mistake. Chapek was centralizing power to his desk. He fired people who were his competition. Josh saw that. Josh either did what he was told to do or he was going to be fired too. He was biding his time for yesterday.

Chairman of the Board Susan Arnold and Christine Mcarthy CFO need to go as well. Susan Arnold has no experience in any of the markets that Disney is in and to be blunt she was a leader in the demise. The same goes Christine McCarthy. If she worried about the financials of the organization instead of demeaning the guests the company wouldn’t be in this person.

1000% yes and NOW. And they know it which is why announcements are saying Arnold isn't going. They both are FAILURES. And then the rest of the Board needs to be replaced for letting so much go wrong without any response.

Agree, when you pay more but feel like you're getting a good value it is a lot different than when you're paying more but getting less value for sure. Its what I've been saying since Chapek stated cutting perks that paying more isn't as big of a concern as having to pay more for less.



I don't know for sure - but the way CNBC made it sound in this article https://www.cnbc.com/2022/03/20/disney-ceo-chapek-iger-falling-out.html Chapek ran Disney with all decisions being centralized to a very small inner circle while Iger let a lot of decision making go to each business. That was with DMED (Disney Media, Entertainment and Distribution) - so I don't know that it was true for DPEP (Disney Parks, Experiences and Products).

But if that was occurring at DPEP too, perhaps Josh didn't have a lot of decision making power - that is the one hope I have that maybe Josh will be given more freedom to run the parks as he sees fit.

He completely shifted and restructured the leadership chart immediately on getting his job. A major red flag that he was moving control away from leaders to his desk. Not a good thing in a company this large. And what did he do with that .....

Honestly the part pass reservation systems isn't all bad. In a way fast pass + was a mini version of it since it forced you to pick at least part of where you will be ahead of time, since while you could switch sometimes last min you often couldn't get the top fast passes. The pass reservation system is the only way I would ever consider going on New Years Eve since you know for sure whenever you want to enter the park you can get it , and can leave and still get back in.

The parks are not nearly as crowded as they were in 2019/early 2020. We don't see 5-6 hour waits for FOP or 3-4 for soarin or test track.

I will say I wish park hopping was more like noon or 1pm and not 2.

Disagree. I think they are worse. Each trip it is more and more obvious. The park reservation system has allowed them to fill all parks. Wait times in MK and DHS have only gotten worse.

FOP was going to reduce over time and now with the park reservation system folks can't hustle there to ride then leave for another park. When you now have to commit until 2 pm FOP suddenly isn't as important anymore. And it has competition.

Soarin' hasn't had long lines since the new movie. We stopped riding but when I look at the waits it's never more than 45-60 at most.

When TT actually has a 2 hour wait (not 3-4) it is because the ride broke down and folks are coming back. It usually seems to hang at 60-70.

I would like to take this opportunity to thank Bob Chapek for giving it the best he possibly could in the singular worst time for any entertainment company to operate, the COVID years. While many on these boards will dance like Ewoks watching the second Death Star explode, I feel badly he lost his job during the holidays no matter how much his severance package is.

Big Papa Iger is living a charmed life. He inherits Kevin Feige and watches Marvel blossom into a powerhouse. He buys SW and Kathy Kennedy is the object of the fandoms hate, not him. Iger does deals with the Chinese government to open parks in China and he is lauded doing business with the sleaze of humanity, the CCP. Iger leaves right before COVID shuts down movie theaters, TV/movie production, parks, cruises, etc. He returns with a massive slate of movies and Disney Plus projects in 2023. Iger hand-picked his successor, and when that fails he is given a second chance to find a successor.

Life is good for Big Papa Iger. Based upon how fast the Disney fandom turns on leaders, I wish him luck, a whole lot of it.

I'm trying to figure if this is sarcasm or not ... Bob is laughing his way to the bank while not having to deal with Disney anymore. His net worth EXPLODED the last 3 years. He never has to work again.

And feel sorry? What about all those Disney employees that were in line a food banks for so long, some are trying to catch back up? What about the Disney employees that can't make rent? What about Disney employees working 2-3 jobs? What about all the imagineers living CA costs that lost their jobs? What about those CA folks who sold their homes to move to FL to have him cancel it?

I love people, all people. I have empathy for all who suffer. I don't like seeing anyone getting fired. Rich or poor. Big time or small potatoes. It's just no fun to see. But, I'm made differently than most people. I'm really happy that I'm cut from a different cloth than everyone else, and I'm thankful for my grandma for raising me to love one another.

Happy Thanksgiving, Aprilshack. I hope you have a safe and wonderful holiday.

Lots to unpack here.

 

[GAN]

D'Amaro isn't on the Disney CEO track (at least not right now). Disney typically likes their CEO to have some experience in multiple divisions and Josh has spent his entire Disney career in Parks. Highly doubtful they would elevate a guy who's never spent any time in any of the studio arms, content production, or Consumer Products. No studio experience in a company built on the studios and motion picture production won't fly.

Now, if you see Josh getting moved laterally in the near future into another division, THAT would be a very good sign.

** Before anyone tries to "yeah, but" me: Yes, Eisner came in with ZERO Disney experience at all, but a strong creative background at Paramount, and Roy E. and Sid Bass brought him in on the heels of a series of hostile takeover attempts with the feeling that someone from outside the company would send a stronger signal of change and convey the message that it wasn't business as usual (many on Wall Street felt Disney leadership was ageing and falling behind the times with many in senior leadership still holdovers from the old Walt/Roy O. days).

Yeah... it's not likely D'Amaro. He is so much of a fanbase guy that in his own way has become typecast ...BOD's will rarely pander to the outside forces, especially the Disney fanbase -there's too much risk if things don't go right. I agree a lateral move would be best -somewhere he can step out of the direct public eye would help his chances down the road. And he's still pretty young so no need to rush a potential solid CEO candidate.

 

[Suzabella]

Remember that a lot of the things that Chapek took the heat for, were actually developed under Iger's watch.

 

[Aprilshack]

Whatever Iger does, please Bob, being on holiday shouldn’t mean being up before 7am to get ride passes, a lot of people find Genie plus over complicated. It shouldn’t be such hard work to go to a park. People are paying good money here, it should be enjoyable, not a slog!

 

[Aprilshack]

Remember that a lot of the things that Chapek took the heat for, were actually developed under Iger's watch.

You are correct. I do wonder if Iger would have the balls to say, that’s not working, that’s not great for the consumer, that’s too much hard work for park goers etc. I don’t think Chapek cared enough. We will see what iger does to improve park experience.

Chapek being fired will be mostly of his own doing. Like with any job, you aren’t up to scratch you are gone. Maybe he was too greedy and is now paying the price, with a hefty pay off which he is extremely lucky to get . If he treated cast members better, I would have felt sorry for him. He had chances to up their pay to a living wage but him and the board chose not to. Multiple times.

 

[GAN]

I appreciate all the love for Josh but he has the same problem that Chapek had, a narrow resume with no experience needed to steer the ship. The areas that need the most help are the Movie Studios, Genie+ etc - non on Josh's resume. My hope is that he stays in his position but with some control and power that clearly was taken with Chapek when he got the job.



Actually park reservations have allowed them to pack even more people into the four parks, making them lots more money. I don't think they will give up on there and honestly I think they are workable with other changes.


And that is 1000% on the Board who knew well what his resume said. Then they let him have way too much control, let him restructure the company to his benefit and watched as it swirled the drain.



Agree and I think that will be his focus, not the parks.


Disagree. Yes he "let" these things happen you have to look at Chapek's management style. Day one he completely restructured the ladder and removed power from positions including Josh. At that moment was when Iger let the Board know that they might have made a mistake. Chapek was centralizing power to his desk. He fired people who were his competition. Josh saw that. Josh either did what he was told to do or he was going to be fired too. He was biding his time for yesterday.


1000% yes and NOW. And they know it which is why announcements are saying Arnold isn't going. They both are FAILURES. And then the rest of the Board needs to be replaced for letting so much go wrong without any response.


He completely shifted and restructured the leadership chart immediately on getting his job. A major red flag that he was moving control away from leaders to his desk. Not a good thing in a company this large. And what did he do with that .....


Disagree. I think they are worse. Each trip it is more and more obvious. The park reservation system has allowed them to fill all parks. Wait times in MK and DHS have only gotten worse.

FOP was going to reduce over time and now with the park reservation system folks can't hustle there to ride then leave for another park. When you now have to commit until 2 pm FOP suddenly isn't as important anymore. And it has competition.

Soarin' hasn't had long lines since the new movie. We stopped riding but when I look at the waits it's never more than 45-60 at most.

When TT actually has a 2 hour wait (not 3-4) it is because the ride broke down and folks are coming back. It usually seems to hang at 60-70.


I'm trying to figure if this is sarcasm or not ... Bob is laughing his way to the bank while not having to deal with Disney anymore. His net worth EXPLODED the last 3 years. He never has to work again.

And feel sorry? What about all those Disney employees that were in line a food banks for so long, some are trying to catch back up? What about the Disney employees that can't make rent? What about Disney employees working 2-3 jobs? What about all the imagineers living CA costs that lost their jobs? What about those CA folks who sold their homes to move to FL to have him cancel it?

His exit pay could buy twitter without Elon losing a cent!!! He should be paying back Disney for some of the losses he caused. Sorry it's business here, no sympathy.


Lots to unpack here.

The only thing I would say is that while Chapek most likely stole any reasonable decision-making from Josh, I wonder how much Josh pushed back. I mentioned this earlier. If he pushes back too hard does he risk his position? If I had a gut feeling this guy(Chapek) may not last very long, I may just be his yes man and ride it out ...maybe that's what happened. Personally, I've never been that way -for better or worse. I'd rather lose my job doing what I believe in than keep it doing the wrong thing.

 

[Bovril82]

We need two CEOs.

Eisner and Wells were the golden years post Walt.

A smiley happy creative person who oozes Disney to placate the fans, and a money/corporate guy.

Disney is a strange business with their finger in so many different pies.

The parks and studios are both entertainment, but hugely different beasts. Near on impossible to find someone who is a complete master of both. Hence having to bring back Iger.

It might be that they find someone now externally with corporate nous, perhaps paired with someone from in-house who is proven creatively.

 

[Aprilshack]

We need two CEOs.

Eisner and Wells were the golden years post Walt.

A smiley happy creative person who oozes Disney to placate the fans, and a money/corporate guy.

Disney is a strange business with their finger in so many different pies.

The parks and studios are both entertainment, but hugely different beasts. Near on impossible to find someone who is a complete master of both. Hence having to bring back Iger.

It might be that they find someone now externally with corporate nous, perhaps paired with someone from in-house who is proven creatively.

There just needs to be a balance. Yes they are a business but don’t make practically every cut at the expense of the park experience.

 

[HopperFan]

The only thing I would say is that while Chapek most likely stole any reasonable decision-making from Josh, I wonder how much Josh pushed back. I mentioned this earlier. If he pushes back too hard does he risk his position? If I had a gut feeling this guy(Chapek) may not last very long, I may just be his yes man and ride it out ...maybe that's what happened. Personally, I've never been that way -for better or worse. I'd rather lose my job doing what I believe in than keep it doing the wrong thing.

I've said since practically day one this is what is happening. Remember Josh worked for Chapek and was used to "following his orders" and he knew him well enough to know he would not be able to shoulder CEO for too long. When COVID hit I think it wrote Chapek's obituary because he wasn't going to be able to carry the company which is why Iger hung around. Josh knew him well, he wasn't good for long term, he was a retail guy who thought seasonally. I doubt Josh pushed back, he just hunkered down and waited. His job was SO BROAD that I think he could look the other way from some he didn't like to focus on the good parts that he had more control over.

NOW had he had more power would some things still go through, yes. Just because we don't like them doesn't mean they wouldn't happen. Some were likely on plan from Iger days. Maybe they would have happened in a different way that would be more palatable or have a change that complimented the change rather than make it cumbersome. The question is will Josh now be in a position for fight for the parks more? If he has a solid long term plan, a way to adjust without losses and proof that something big is good for them .... I think so. He has Epic Universe to help him sell some things. I think he might be a listener type. He walks among the commoners, he talks to people. Fingers crossed the "future plans" thrown out there now have more weight to them.

 

[Micca]

Which one do you trust? Which one displays an easy confidence and which one looks smirky and uncomfortable?

Iger to Mrs. Iger: "Honey, I'm headed back to the office, are all my Mr. Rogers sweaters back from the dry cleaners?"