For nearly two decades, Bob Iger ran The Walt Disney Company with open ears, an open mind, and an open heart. He was loved by fans and Disney cast members alike. He took the company that former CEO Michael Eisner had expanded, and built upon that. During his time as CEO, Iger was responsible for the creation and opening of the Shanghai Disneyland Resort. He was also responsible for the acquisition of Pixar Animation Studios, Marvel Studios, Lucasfilm, and 20th Century Fox.
In February 2020, fans were devastated to learn that Iger was stepping down as CEO, effective immediately. He would remain with Disney and serve as Executive Chairman. Iger announced that Disney Parks Chairman Bob Chapek would be taking over as CEO of Disney.
Related: Inside Disney Chief Bob Iger’s Aspirations of Becoming President of the United States
Many fans did not know who Bob Chapek was, since he spent a considerable amount of time out of the spotlight. However, they would soon come to know what kind of leader he was — and they were not impressed.
The Tumultuous Chapek Era
Almost from the beginning, things were not easy for the newly minted-CEO. Just weeks after taking over the Mouse House, Chapek was forced to make the difficult decision to close all Disney theme parks and shut down all film and television productions because of the COVID-19 pandemic. He wanted to furlough tens of thousands of employees, but Bob Iger told him to wait until the CARES Act passed. Despite Chapek being in charge, Iger won that battle.
Related: Former Disney CEO Bob Chapek’s Controversial Legacy Erased in New Company Bombshell
Unfortunately, once the parks started to slowly reopen and productions picked back up, things did not get easier for Chapek. In fact, they just continued to go downhill.
Chapek quickly turned Disney fans against him. He was the one in charge when Disney announced it was getting rid of the wildly popular and free FastPass system and the Magical Express. At the same time, prices began to increase dramatically, while the quality of everything from food to merchandise decreased.
On the cast members’ side, Chapek was not their favorite, as soon as he made it clear that he wanted to concentrate his power. He took creative power away from the creatives and gave it to his loyalists. He also appeared to want his hand in every cookie jar, even though he was not a creative person; he was more of a numbers guy.
Things between Chapek and Disney cast members reached an all-time low when Florida Governor Ron DeSantis announced the Parental Rights in Education Bill — also called the “Don’t Say Gay” Bill. Chapek called the bill “irrelevant” to the company, which made Disney’s LGBTQ+ cast members feel hurt and let down.
After public protests and walkouts, Chapek apologized for his original comments and said that Disney would fight the bill’s passage. That set off a war between Disney and Governor DeSantis. In the end, DeSantis destroyed his presidential dreams, cost Florida thousands of jobs, and lost Disney’s billion-dollar Lake Nona project.
However, Disney didn’t fare much better. DeSantis and his Republican-controlled state legislature ended Disney’s Reedy Creek Improvement District. They took away Disney’s right to operate as its own form of government, and DeSantis put his own loyalists in charge of the new district he created — the Central Florida Tourism Oversight District.
Chapek Out, Iger Back In
In November 2022, Disney’s Board of Directors shocked fans when it announced that Bob Chapek was being let go as CEO and former CEO Bob Iger would be returning to the role he knew so well. While fans were surprised, they were happy, since Bob Chapek had been the bane of their existence since he stepped into the role.
What made the move surprising was that Disney’s Board of Directors had just renewed Chapek’s contract that summer. Fans had hoped that Disney would not renew Chapek’s contract, so it was wild to find out that they apparently regretted their decision and chose to reverse it.
Related: What the Heck Happened to Bob Iger?!
Unfortunately, since his return, Iger has not managed to bring fans back to the light side. He is not nearly as popular as he once was, and a lot of fans think that, just like Bob Chapek, Iger’s sole focus is now on how to make money for shareholders. Iger does not seem to care about improving the Disney experience.
Chapek Admits Wanting to Sue Disney
After Chapek’s abrupt firing, sources began reporting that the relationship between Bob Iger and Bob Chapek had been one wrought with tension and power struggles. Even though Iger was no longer in charge, he did not seem ready to hand the reins over to Bob Chapek. Chapek reportedly wanted to make his own mark, but Iger was doing everything he could to prevent that.
When Chapek was fired as Disney’s CEO, he allegedly asked Disney’s Chairwoman of the Board why he was not being given the option of resigning. Arnold reportedly told him that the board had lost faith in him and needed to cut ties ASAP.
According to a bombshell new report from The New York Times, Chapek did not take his firing lightly. Instead, he met with a high-powered attorney as he considered whether he wanted to sue the Mouse House. In the end, Chapek decided against suing, but not for the reasons you might expect.
The New York Times reported that Chapek’s family’s love of Disney was eventually what led him to his decision.
After he was fired, Mr. Chapek hired Bryan Freedman, a lawyer in Los Angeles known for handling high-profile media departures. Mr. Freedman told The Times he had advised Mr. Chapek that he had “a very strong legal claim against Bob Iger for illegally interfering with his ability to do his job.” But Mr. Chapek told him that his children and grandchildren were a “Disney family” and he couldn’t bring himself to file a lawsuit that might hurt the company, Mr. Freedman said.
Related: Bob Iger Makes Big Reversal In Chapek-Era Changes
Since his termination, Chapek has remained very quiet about his firing, reportedly due to the terms and conditions he agreed to in his severance package.
Iger’s Hunt For a Successor
When Bob Iger initially returned as CEO of The Walt Disney Company, his contract was through the end of 2024. However, in 2023, Disney and Iger agreed to a contract extension, which will now run through the end of 2026. Unlike last time, however, this time, Mr. Iger is well aware of his deadline and is “obsessed” with finding the right person to lead the company when he finally walks away.
Related: Disney Announces New Lead in Race To Replace Bob Iger
When Iger first stepped down, he was hoping to gradually phase himself out of the CEO role. He hoped to work alongside the CEO, acting as their mentor and helping them navigate their new role. However, Disney’s Board of Directors allegedly did not want to go along with Iger’s plan and pressured him into appointing a CEO who would completely take over.
After weeks of pressure from the Board, Iger gave in and threw Chapek’s name out there, even though the former Disney Parks Chairman was not his first choice.
This time around, Iger is not following around. The company has set up a committee to help Iger find the person who will replace him. Numerous reports indicate the battle for CEO has been narrowed down to four key players. Iger is currently considering current Disney Parks Chairman Josh D’Amaro, Dana Walden and Alan Bergman — the Co-Chairs of Walt Disney Entertainment –, and Jimmy Pitaro, the current Chairman of ESPN.
Iger has not made a final decision, but insiders have said that he will most likely make his announcement well before his contract expires in December 2026.
Do you think Bob Chapek should have sued Disney? Who should become the new CEO of Disney? Let us know in the comments!
