Bob Iger was disneyfor 15 years before stepping down in 2020 as CEO of Disney as we know it today. Iger masterminded the acquisitions of Pixar, Lucasfilm and 20th Century Fox. He oversaw the launch of his Disney+. He is the reason why Disney owns Marvel Comics. Bob Iger’s phenomenal success began in 2020 when his contract expired. Now, two years after he left, the man is back at Disney’s Shepherd after a difficult period that saw Disney’s stock price plummet.
The announcement of Bob Iger’s return came as a surprise to everyone at Disney, even Bob Chapek was due to be replaced by Iger as CEO. Big changes are undoubtedly coming to Disney as we get started. But the Eiger faces major challenges.
Disney+ is still operating at a loss. Chapek’s reaction to Florida’s “Don’t Say Gay” bill also led Disney to turn against Governor Ron DeSantis. Despite the mountains he has to climb, shareholders seem hopeful. The day after Iger’s return was announced, Disney stock rose 6%. While the company’s omens look good, what happens in the coming months may be shocking.
Bob Iger’s Sudden Return
No one expected Iger to become CEO of Disney again. Even the Eiger. In January, Bob Iger told The New York Times that it was “absurd” to think he might hold the position again. But Bob Chapek’s accomplishments as his replacement were marked by several big moves that made Disney’s board of directors very nervous.
One of Chapek’s first decisions as CEO was to separate the content and distribution divisions by forming Disney’s Media and Entertainment Distribution Division. This alienated many creatives, and was contrary to the way Iger ran the company.Disney said that many of the content creatives and talent had no control over the project as some of the authority was transferred to executives at the distribution companies. I felt that I had lost some control. Iger’s approach has traditionally been more creative. His philosophy in the past has been to keep that aspect of Disney at the heart of the company and prioritize cost control elsewhere. increase.
Chapek also caused a rift between Disney and Florida this year over controversial legislation. Governor Ron DeSantis signs Florida’s “Don’t Say Gay” bill, which the state says bans the education of gender identity and sexual orientation in ways that aren’t “developmentally appropriate.” When Walt Disney Studios at Disney World in Orlando went on strike to protest the new law. Disney issued a statement supporting employee and LGBTQ rights and suspended political contributions in Florida. This ignited a feud between Disney and DeSantis, with DeSantis abolishing the Reedy Creek Improvement District, the Special Tax District, and, in effect, the governmental borough of Florida that houses Disney’s world.
Disney executives saw this as a serious ruse and strike against Chapek. But many say the nail was struck on November 9 when Disney’s stock fell below $90, an announcement shortly after Disney’s poor fourth quarter earnings. When it was officially announced that Bob Iger would be returning to the company, it happened during Elton John’s farewell concert, which was attended by many Disney executives. And now, just a week after it happened, Eiger has already made some notable moves.
big change for disney
When Čapek was kicked out, Kareem Daniel quickly followed him. Daniel was head of his Media and Entertainment Distribution division for Chapek, but this only began to erase the obvious mistakes Chapek has been making.
Variety confirms that Arthur Bochner is next to leave. Bochner served as Chapek’s chief of staff and lead speechwriter. He was appointed as Vice President of Strategic Communications later in Chapek’s career. Bochner was considered Čapek’s best friend, so this isn’t surprising, but it’s a sign of ongoing turmoil that will persist in the coming weeks.
The Eiger faces an uphill battle. The biggest challenge may be this recent political turmoil with Governor DeSantis. Disney has to walk a fine line between supporting a diverse work environment and appeasing a politician many of his employees dislike. In addition to diplomatic difficulties, Iger faces the problem of revitalizing the Disney+ platform despite its low profitability.
Disney is due for an overhaul, and Iger is the man to do just that.You’ll feel the change across the company, from executives to talent to viewers buying subscriptions and theme park tickets from home. The world of Walt Disney is sure to change in the coming months, and no one has a better reputation for work than Bob Iger.
