Bob Iger has always been a tough guy to follow. But Bob Entangled’s tenure at the helm of Disney was also marked by unintentional missteps that ultimately made it impossible to escape Iger’s shadow.
On Sunday night, Chapek was ousted and replaced by Egger, just under three years after Chapek succeeded Egger as CEO in February 2020.
Chapek rose to the top of the Parks and Resorts department, and had little experience dealing with A-list talent and high-pressure political situations (a special strength for Iger, who made tough decisions with a velvet touch). What followed was a series of blunders that included a public altercation with an actor.
In the summer of 2021, Disney concurrently released Marvel’s Black Widow on Disney+ and in cinemas – boosting the streaming service at the expense of box office revenue. But the company initially failed to strike a deal with the film’s star, Scarlett Johansson, whose compensation was tied to a series of box office bonuses. That prompted the actor to file a lawsuit, dragging the contentious negotiations into broad daylight. He compounded the error by agreeing to a public statement that Johansson was greedy and insensitive to the challenges of the coronavirus pandemic. (The lawsuit was quickly settled.) It was astonishing to many industry insiders that Chapek would openly blow a movie star standing up for her contractual rights. said the head of a rival studio diverse At the time it was “the most embarrassing thing I’ve ever seen in my career.”
Tangle also resisted pressure to take a stand against a Florida law restricting classroom instruction on gender identity and sexual orientation, which has been dubbed the “Don’t Say Like Me” bill by its critics. Chapek chose to remain neutral even after Iger tweeted his opposition, and despite the company’s history as a champion for LGBTQ rights.
This led to a strike by the employees. Many employees were particularly outraged when Chapek suggested that the best way for the company to effect change is through its comprehensive content. It turns out that the company removed a gay kiss from “Lightyear,” which was restored after Pixar employees wrote an open letter criticizing the company.
Chapek was forced to completely reverse himself on “Don’t Say Gay”. But with the fervor of recent converts, he has opposed the law in such staunch terms that it has prompted a coordinated backlash from Republican Gov. Ron DeSantis and social conservatives. This hurt the company’s political interests in Florida, where 40% of its employees are located. Prior to this headline-grabbing debacle, Chapek hired the communications strategist who helped BP weather the 2010 oil spill as the company’s chief spokesperson and political advisor. The CEO, Jeff Morrell, served nearly 90 days in the job before he was fired (following backlash from Don’t Say Gay). Another knock on the C-suite, which many thought wouldn’t have happened under the Iger regime – especially with the intimidating and gorgeous Zenia Mucha in the role briefly filled by Morel.
Just two months later, Tangle shocked the industry again by unceremoniously ousting Peter Rice, chairman of Disney General Entertainment Television, one of the industry’s most respected executives since his long run under the Murdochs at 20th Century Fox. Rice was seen as a potential contender for Tangled’s job, should it open up, and many viewed the move as a preemptive strike against a strong contender. Board Chairman Susan Arnold had to issue a statement supporting Chapek: “Bob and his leadership team have the support and confidence of the Board.”
To back it up, the board extended Chapek’s contract for a further three years. But, just five months after the extension, the board made the clear decision to change the situation. Egger officially got his office back on Sunday night.
Chapek has faced his share of public scandals, but the final straw was likely a careless ruling in Wall Street’s final months. As Disney stock plunged, Tangled had a brief skirmish with activist investor Dan Loeb of Third Point. In August, Loeb publicly called for Disney to double its broadcasting by selling ESPN and fully acquiring Hulu. But Loeb de-escalated the tension after just one month, issuing a public statement saying he had gained a “better understanding” of Disney’s strategy.
Loeb’s pacification was seen as a much needed victory for the entanglement regime. But it was too little, too late. Weakening share price and the prospect of more rough quarters amid the economic downturn has prompted the Disney Board to return to its old flame — in a last-minute plot worthy of ABC’s The Bachelor.
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