Disney's CEO transition from Bob Iger to Bob Chapek marked a shift from an outspoken, famous CEO with political ambitions, to a largely unfamiliar name whose politics remain a mystery. Disney CEO Bob Chapek apologized for not being a "stronger ally" for the LGBTQ+ community and for the company's silence over Florida's "Don't Say Gay" bill. A recent CNBC article referenced Chapek's perceived lack of emotional intelligence. He said that his employees view the company as a very cohesive, big, happy family., He said the company wanted to rise above the political subterfuge which saw our brand be misappropriated or misused to try to fit the needs of any one particular groups agenda.. I think many people who work for us will not want to work there, and we will have to heed their wishes in that regard, he said. Making Advance Dining Reservations at Disney Restaurants DFB Guide to Walt Disney World Dining, Disney World Restaurants, Menus, and DINING REVIEWS His term was recently extended to mid-2025, and the paychecks between now and then add up to roughly $6.5 million. "That young boy could have never imagined that one day he would get the chance to lead this extraordinary company as the seventh CEO in its nearly 100-year history.". 7/$11,106. The companys shares have been under pressure this week as investors solidify positions ahead of the companys fourth quarter earnings release on Nov. 8. Surprisingly,Bob Chapek declared for the first time publicly that The Walt Disney Company would attempt to exit politics and ideology going forward. New Disney CEO Bob Chapek was confronted by an investor about ongoing issues at ABC News on Wednesday, but the high-powered executive brushed off the criticism, and the investor then blasted. To many, this response, or lack thereof, was not satisfying at all, lacking any true agency. Many fans and investors have celebrated the return of Bob Iger as The Walt Disney Companys CEO. One of the biggest differences between Iger and Chapek is the publics perception of them. We need to keep an eye on Iger to make sure he makes Disney, Walts Disney, if he does not we will lower the boom on him too! Michael Eisner (Photo by Bryan Bedder/Getty Images for Nickelodeon), He also mentioned the pandemic in his interview with CNBC, talking about how Disney has historically done pretty well. These Are the BEST. The Human Rights Campaign says it won't take Disney's money. Thinking of staying at one of Disney World's "Goldilocks" hotels? Cut me a break NO LOSERS HERE! BURBANK, Calif.-- ( BUSINESS WIRE )--The Walt Disney Company (NYSE: DIS) Board of Directors announced today that Bob Chapek has been named Chief . Disclosure Policy 30 Oct 2022, 12:14 PM PST 0. This story has been shared 116,307 times. A CHANGE has been announced for the Super Mario Bros. movie! forms: { Bob Chapek has been in the position ever since.But, before the two Bobs, there was CEO Michael Eisner, who was head of The Walt Disney Company for 21 years, from 1984 to 2005.And, Eisner was recently interviewed on CNBC, where he spoke about current CEO Bob Chapek, as . He makes a lot of passive income these guys as a major stockholder. "There's a new sheriff in town, and . This is a far cry from former CEO Bob Igers approach to heated topics and issues. Can't decide where to eat in Magic Kingdom? You only need to own 1 share in order to vote. Chapek also pushed the division to integrate technology into products and explore innovations such as wearables. I wouldnt throw away your Disney tickets to the theme parks quite so early., Bob Chapek in Disney World on its 50th Anniversary. Theyre all in it together. You can also subscribe without commenting. Definitely the weakest link in the Disney chain, grossly overpriced and poor quality. Chapek keeps his politics more private than Iger, the democrat-turned-independent that preceded him as CEO. Chapek is known to remove any threats to his position as CEO, such as Peter Rice and Geoff Morrell, turning the company into a cut-throat corporate world. Bob Iger officially left Disney on December 31st, 2021, having stepped down from the position of CEO back in February 2020. President Joe Biden has called the new bill hateful and Iger has joined in on the same thought process, publically posting to Twitter that he agreed with the president. Speaking out against this bill explicitly says youre against it, and staying silent says I may not like it, but I dont have a problem with it., Thats what Chapek is saying. Magic Kingdoms brand-new TRON roller coaster. According to another source familiar with Igers and Chapeks thinking, Iger tended to speak out not only when issues affected the companys business interests but when they affected its employees, a number which now reaches nearly 200,000. Disney Fires Top TV Executive Peter Rice as Board Backs CEO Bob Chapek Peter Rice, who was seen by some as a possible candidate to lead Disney, departs; board says Chapek and team have its. People dont come to Disney to get political points of view, either from the left or the right. Iger has taken the role of executive chairman to focus on Disney's creative output . Parents are parents. Read the blogs. Or what about Walt Disney World Resorts four theme parks Magic Kingdom, EPCOT, Disneys Animal Kingdom, and Disneys Hollywood Studios and the Disney Springs shopping and dining district! Shop the Disney Store | How do you feel about Bob Chapek as CEO? Find out where to get it! Prior to becoming the CEO, he used to work as the chairman of Disney Parks, Experiences, and Products. Just saying ! Disney CEO Chapek Bob Chapek Tuesday said he doesn't "really see Disney as characterizing itself as left-leaning or right-leaning" - responding to a shareholder who accused Hollywood and the. While Splash Mountain is a very iconic and beloved attraction and has become one of the most recognizable rides in the world, the basis for the ride does come from a film that Disney has done its best to hide. Bob Iger officially left Disney on December 31st, 2021, having stepped down from the position of CEO back in February 2020. In the fiscal 4th quarter of 2022, Disneys streaming services had losses totaling almost $1.5 billion, which was nearly double the losses reported in the 3rd quarter. He is 61 years old as of 2021. Eventually, Disney and Chapek himself spoke out against the bill, even pledging millions of dollars to the Human Rights Campaign (HRC), which was eventually declined.Disney found itself traveling further into a PR nightmare when walkouts were held company-wide in protest of Floridas controversial bill. During an appearance on Sunday near Fort Lauderdale, DeSantis said Republicans ought to be more willing to take on corporations who stray into the political space. The term Woke Capitalism is now a catchy slogan bandied about on Wall Street by investors who feel companies may have gone a little too far in political correctness. According to contract details disclosed in a Securities and Exchange Commission filing, the extension begins on July 1 and runs for three years. Many fans saw Chapek as being more concerned about profits and numbers than he was about Disney content and magic. Iger, on the other hand, has been more popular with fans and rank-and-file workers (Bloomberg). ); In 1981, he graduated with the degree in bachelor of science in microbiology. And, Eisnerwas recently interviewed on CNBC, where he spoke about current CEO Bob Chapek, as well as Bob Iger. Very sad. It prohibits discussing sexuality and gender in classrooms and allows parents to sue individual teachers if they believe a teacher has violated the law. So again, you couldnt care let about the average guests. Thats what happens when the bottom line is all that matters and the magic disappears! Disney CEO Denies Political Leanings Following Gina Carano Firing During annual shareholder call, CEO Bob Chapek maintains the media giant isn't 'left leaning or right leaning,' but instead stands for the universal values of respect, decency, integrity, and inclusion. He will be expected to reduce spending and reignite growth for the streaming services. 20052023 JAK Schmidt, Inc. All rights reserved. Copyright 1996-2023 AllEarsNet, LLC, All Rights Reserved. Chapek acknowledged to The Hollywood Reporter that the Mouse House was walking a tightrope. All rights reserved. He was very good at Disney when I was there. Disney CEO Bob Chapek More Reluctant Than Iger to Take Political Stances, Insider Says March 2, 2022 Rebecca Davis A Walt Disney Company insider tells The Hollywood Reporter that unlike his predecessor, Bob Iger, Chapek doesn't wish for Disney to wade into political discussions. The nearly century-old company has been dragged for becoming too politically correct, famously clashing with Republican Florida Gov. The December 8th changes represent a 38% price increase. PHOTOS: A Popular Ride Has Reopened EARLY in Disney World! I'm with the President on this! The sum makes it the most Disney has spent on its in-house lobbying efforts in a single quarter since the first quarter of 2011, according to disclosure reports cited by CNBC. 2023 NYP Holdings, Inc. All Rights Reserved, Gina Caranos Mandalorian character will remain in the show, Ex-Disney CEO griped to DeSantis about pressure to slam Fla.s Dont Say Gay bill: book, Florida Gov. Youre either for inclusion or youre not, political stance notwithstanding. This man will be the ruination of Walt Disney World. Did you really think hed have anything negative today? Chapek told shareholders that he had called DeSantis on March 9 to urge him not to sign the bill, which restricts schools from teaching gender and sexuality to children in kindergarten through third grade. Come find out which one! In "The Courage to Be Free," the governor describes a conversation with former CEO Bob Chapek about Disney's political activities. !Super rude man ! Controversy has seemed to gravitate toward all aspects of the company for the entirety of 2022, starting with the very critical reactions to how the company handles its response to Floridas highly-contested Parental Rights Bill, which is more commonly known as the Dont Say Gay bill. (function() { Chapek envisions a future that is multicultural and diverse, just like the world in which we live. Not the schools. "Today the corporate kingdom finally comes to an end," he said at a bill signing ceremony in Lake Buena Vista. For the latest Disney Parks news and info, follow WDW News Today onTwitter,Facebook, andInstagram. "I want to use Disney to bring people together, and I think we'll do that by diverse stories and diverse . Full list of Disney Dining FAQ Pages, Staff & Regular Contributors Colleagues perceive former CEO Bob Iger as a highly political person with an acute mind for such situations. What Disney Park project are you most excited for? Well have to watch and see what kinds of changes Iger makes moving forward, but fans should be prepared to see fewer adjustments than they might be expecting. And will those differences actually bring about the results that fans and shareholders are looking for? Ron DeSantis threatened to dissolve Disneys Reedy Creek Improvement District, a special ruling that essentially allows Disney to act as its own form of government. Want to see more on leaders at The Walt Disney Company? Its not an end in and of itself.. Lot Size 6.02 acres. Disney told CNBC that the company speaks to lawmakers from both parties. For official Disney information, visit http://www.disneyworld.com, Why Youll Want to Stay LATE in EPCOT Starting This Week, Thousands Push Back Against Bob Igers New Employee Rules, Florida Ends the Corporate Kingdom Massive Update on Disneys Reedy Creek District, Disney World Pool Hopping And Other Rules. That was very risky. Inside the Magic consists of multiple writers & videographers living near both Disneyland and Walt Disney World theme parks and around the world. Save my name, email, and website in this browser for the next time I comment. Walt Disney CEO Bob Chapek claims the company is not left or right leaning, and that everyone agrees Disney has the power "to unite us all." But Chapek's claims come after two thirds of Americans say the multimedia company has taken political correctness too far. How You Dine Has CHANGED at Chef Mickeys in Disney World, We Found the Perfect Park Bags for Your Next EPCOT Trip, Why You Should Stop Buying Park Hopper Tickets at Disney World, ALERT! See the CHANGES at Tianas Bayou Adventure in Disney World, The Funko Pop! He sees himself first and foremost as the custodian of a unifying brand that for nearly a century has been bringing people together, and he is determined that Disney remain a place where everyone is treated with dignity and respect.. And theres no way to tell exactly how many politically right-leaning passive investment funds sold shares in protest of Disney. 6/$11,050. I always say, when someone walks down Main Street and look at the castle, youre not thinking Im on one side of the political spectrum or the other. You have a shared belief in all the wonderful aspects of what Disney is, he said. We focus on bringing you all things fun so you can plan your theme park vacation, enjoy Disney at home, and more. Iger brought technology (Magic Bands) and price increases to Disney and Cepek had continued down that road. Disney had a winning formula and the magic was there, but slowly begin to disappear, still cant exactly put my finger on what has happened. Thats a core focus for me. That would mean Scalise will likely become House majority leader, making the congressman the No.2 official in the majority party. He said that the companys goal was for this law to be repealed by the legislature or struck down in the courts.. He is not 25 years old, as Im not. The bill requires DeSantis, a Republican, to appoint a five-member board to oversee the government services that the Disney district provides in its sprawling theme park properties in Florida . Many fans turned against Chapek because of unpopular changes at the Disney theme parks, such as price increases, the introduction of the Park Pass Reservation system, the removal of Magical Express, and the shift from FastPass+ to Genie+. Little things to a lot of people add up to big things for families with limited time and money for park visits that the average family saves for a long time. For example, they worry that the GOP could pressure Disney to stay silent on social issues, such as the Supreme Court ruling in June that overturned Roe V. Wade and the right to an abortion. Will Iger be able to turn that trend around? Take a sneak peek at some of the topiaries coming to this year's festival! I thought they were the more tolerant group. Check out our video on the mistakes to avoid during your 2022 Disney World trip: Our guides are backed by a 100% money-back guarantee, so you have nothing to lose. Some believe that refusing to say anything about a bill impacting many Florida-based employees could also be taken as a political statement and the companys subsequent efforts to bolster inclusion may seem hollow. BREAKING: After Hours Events Coming Soon to EPCOT! Learn more about the shift from Chapek to Iger in these posts: Well continue to watch for more updates, so stay tuned to AllEars for the latest Disney news. Disney CEO Bob Chapek has been silent on the matter, with his future in Disney leadership being brought into question. Read more About us or Advertise On top of the stock woes, Disney CEO Bob Chapek has become a punching bag for cultural critics. The material on this site may not be reproduced, distributed, transmitted, cached, or otherwise used, except with the prior written permission of Inside the Magic. Related:Disney Attraction Building Now Officially Closed, Inaccessible to Guests. Created in 2005, what started as a tiny central Florida-based website and short weekly podcast that allowed our audience to visit Walt Disney World virtually has grown into the publishing company it is today. And, again, I guess thats another way of saying, Catering to your audience. But the world is a rich, diverse place and we want our content to reflect that. 5 Huge Problems Exposed by Disneys TRON Coaster Previews. The Mouse House shelled out $1.37 million in the second quarter alone. He is his own guy. Republicans introduce bill to eliminate Democratic Party affiliation in Florida. Its a means to having a good fulfilling life and a prosperous society. Chapek's response marked a change in tone for Disney, which had previously been led by an outspoken CEO who had famously considered running for president. Now, the company's CEO Bob Chapek sent a company-wide email obtained by Blog Mickey. Many have been saddened and disappointed by the companys silence on this new Dont Say Gay bill, especially since Walt Disney World resides in the home state of the bill. as well as other partner offers and accept our, Visit Business Insider's homepage for more stories. Iger, however, was fairly vocal about the issue early on. We know about long lines and waits and weather etc. A Look at the NEW Board Members Who Will Control Disney Worlds District. While slightly sad,we at Inside the Magic couldnt be more excited for the new ride, now called Tianas Bayou Adventure, which will be opening in 2024.. Chapek was seen as an ace on park ops, whereas Iger is the content guru., Investors have apparently come to realize how vital content production is for Disney, and they want someone that they can trust to make good decisions surrounding that content. BREAKING: Universal Is Building a NEW Theme Park Experience in Texas! In the midst of refraining from making any public statements or media interviews, Chapek was recently spotted in his first public appearance since the DeSantis vs Disney war. He doubled-down later saying inclusivity in the studios storytelling whether on film, television or streaming is what drives the companys overall mission to bring people together. Whats more, Disney spent just over $2.3 million on in-house lobbying from the start of the second quarter through the end of the third quarter, CNBC reported. } After weeks of internal strife and external controversy surrounding the Walt Disney Company's lack of public response to the "Don't Say Gay" legislation in Florida, CEO Bob Chapek announced in. Bob Chapek has been in the position ever since. The current park climate and programs are NOT our Disney normal. Chapek was skilled at managing and increasing finances (in the parks, at least), but Disney seems to be looking for a leader who can better connect with fans and investors.