In a bizarre and unforeseen twist at The Walt Disney Company, Chapek has been reinstated to his former role, which he fulfilled for years until his contract was terminated.
A Shocking Announcement
On Tuesday, news of former CEO Bob Chapek’s new role made headlines and served as one of the only mentions of the disgraced former Disney chief in the nearly 14 months since his removal from his post by Disney’s board of directors sent shockwaves down Wall Street and around the Disneyverse.
On Sunday evening, November 20, 2022, news of Disney’s decision to remove Bob Chapek from his role as CEO delighted some and shocked most. It was a move for which some had even petitioned The Walt Disney Company via a digital plea at Change.org, but one that still surprised many Disney fans, nonetheless.
Additional shockwaves were felt as Disney’s accompanying announcement was even more surprising: the company had reinstated veteran CEO and long-time Disney employee Bob Iger to fill the role while the Mouse House decided the next steps needed in securing a permanent successor to Bob Chapek, who was removed for a number of reasons, according to multiple news outlets, that ranged from accusations of “cooking the books” at Disney to engaging in illegal business practices related to the development and rollout of the company’s streaming service, Disney+, and beyond.
It reportedly cost Disney more than $44 million to rid the company of the poorly performing CEO, but since his departure, very little had been known about his whereabouts. Bob Chapek, it seemed, had simply vanished.
A New Proxy Fight–and New Information About Another Chapek
This week, Disney’s board submitted a list of potential candidates for board members at the House of Mouse, and long-time board seat-seeker Nelson Peltz, who’s been attempting to secure a spot on Disney’s board by proxy, did not see his name on the list.
Per a recent filing of proxy statement by The Walt Disney Company, the list of candidates included Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker, and Derica W. Rice.
“The nominees reflect Disney’s ongoing commitment to a strong Board focused on the long-term performance of the company, strategic growth initiatives, the succession planning process, and increasing shareholder value,” the company stated in the filing.
The filing also revealed exactly how much CEO Bob Iger earned from Disney in 2023 and shed light on a rehiring that was not necessarily secret, but that was news to many this week.
According to a post from The Hollywood Reporter on Tuesday, Disney’s filing showed that the company rehired Brian Chapek, Bob Chapek’s son, at Marvel Studios in June 2023, eight months after his father’s contract was terminated by the company:
The filing revealed that [Disney] re-hired Brian Chapek, the son of former CEO Bob Chapek, as a production executive at Marvel Studios. Brian Chapek left the company after his father became CEO to start his own venture, of which Marvel was a client. According to Disney, the company “terminated the contract and re-hired Mr. B. Chapek as an employee” in June 2023, some eight months after his father was terminated as CEO.
Brian Chapek was with Marvel Studios for years before leaving to pursue his own venture. He began in July 2012 as a Production Assistant and an assistant to the co-producer on the Ant-Man (2015) project. From March 2016 to November 2017, Chapek worked as an
He also worked as a co-producer for Black Widow (2021), starring Scarlett Johansson, and an executive producer for Thor: Love & Thunder (2022). Chapek is currently working as an executive producer for Thunderbolts, a Marvel film starring Florence Pugh, Ayo Edebiri, Wyatt Russell, and Harrison Ford, which is slated for a 2025 release.