After just two or so years of being the chief executive officer for The Walt Disney Company, Bob Chapek has been given the boot, and original CEO Bob Iger has returned. So what exactly does this entail?
For a bit of context, Iger led DIsney as the CEO from 2005 to 2020, which is arguably the most impactful time period for the brand as it grew into the unstoppable media powerhouse that it is now. He was the guy that gave the a-ok to buying Star Wars AND Marvel, some of the most profitable media IPs on the planet. Chapek replaced him in 2020, and now was abruptly fired.
Why the sudden change? Well, Disney shares, according to Forbes, fell in a recent earnings report under Chapek’s era. Chapek has been at the forefront of many, many triumphs and blunders for Disney. He was the one to pioneer Disney+ and also the one to fumble employee treatment during the height of COVID.
Chapek hasn’t really had the greatest artistic vision, either. During a live Wall Street Journal interview, he mentioned how animation was just for kids and not something adults would enjoy. Although a lot of animated content is geared towards children, animation is not a genre. It is a medium of storytelling, one that can be enjoyed by adults just as or more than kids, and is capable of telling mature stories just as well or even better than live-action.
Iger will be returning for an estimated time of two years before they find a replacement.
What do you think? Will Disney change for the better now that Iger is back?
By Ezan Charo, Junior, Chi Arts