I wouldnt discount Disney. 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. "He's well aware that, as he likes to say, the intersection of electrons and atoms is growing even in the consumer products area," Rasulo said at the time. Political partisans on the left and right pummeled him over his response to Florida's putrid. What do you think of Bob Igers return as Disney CEO? Iger was the architect of the streaming strategy and still seems wedded to it.. When people come to a Disney park they dont walk in with their political views on their sleeves. 20052023 JAK Schmidt, Inc. All rights reserved. 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. I am a shareholder. Disney World Boat Starts to Sink, Guests Left in Water For Over an Hour, Inside the Magic Your Ultimate Source for Themed EntertainmentCoverage, Disney World Experience Reopens After 2-Year Closure, dissolve Disneys Reedy Creek Improvement District, Disney Attraction Building Now Officially Closed, Inaccessible to Guests, new ride, now called Tianas Bayou Adventure, which will be opening in 2024.. 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. Maybe Micheal Eisner needs to don regular clothes, stay at regular Disney hotels (ala undercover boss) and see what long time park fans are talking about. According to insider sources, Chapek is hesitant to take political sides or bring the company to these complex modern-day issues. In 1981, he graduated with the degree in bachelor of science in microbiology. Between ABC and Disney, he spent many years at one institution. In a moment that many employees saw as debasing the brand, he . Chapek is a disaster!! In the interview, Eisner commented on the two CEOs that have succeeded him at the Walt Disney Company, according to Deadline. Now, the company's CEO Bob Chapek sent a company-wide email obtained by Blog Mickey. I think hes going to do very well., Michael Eisner also commented on former CEO Bob Iger and how he surprisingly stepped down from the position of CEO one year before his contract was over. What would its impact have on our employees, on our shareholders, and our customers? Let us know in the comments! These times remain quite challenging, but as you have heard me say before, I am an optimist, he said., Chapek might have been adept at cutting costs and producing revenue from the theme parks, but Iger is seen as an expert in Disney content. 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. Political views are personal matters. NEW McDonalds Happy Meal Toys Have Arrived! So again, you couldnt care let about the average guests. Take a sneak peek at some of the topiaries coming to this year's festival! 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. March began with the media giant's helmsman under attack by theme park enthusiasts upset about recent revenue-enhancing moves . Disney ( DIS) CEO Bob Chapek hasn't had an easy run in the executive chair. Thats what happens when the bottom line is all that matters and the magic disappears! Shares of Disney continue to be among the Dow Jones industrial averages worst performers. Master the 2023 EPCOT Flower and Garden Festival With Our FREE DFB Printable. Find all of our DFB E-Books and Perhaps one of the biggest moves in Disney history is also part of this initiative, with Disney completely retheming its iconic Splash Mountain attraction at both Disneyland and Walt Disney World. All rights reserved. . Wall Street analysts have weighed in on the woke debate a number of times in the past, and it certainly could be among the reasons holding back share performance. The announcement of Bob Chapek's selection and the start of his term happened very quickly, and within the upcoming months/years Chapek would have to face the pandemic, the closure of Disney's theme parks around the world, changing theatrical releases, the Florida Parental Rights in Education Bill (what critics call the "Don't Say Gay" bill), and more. Susan Arnold, chairman of the board, said, The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period.. For the latest Disney Parks news and info, follow WDW News Today onTwitter,Facebook, andInstagram. Access your favorite topics in a personalized feed while you're on the go. https://t.co/fJZBzre4yM. Find out where to get it! Disney CEO Bob Chapek is cozying up to Republican lawmakers ahead of the midterm elections, according to a new report. Your email address will not be published. Which Character Meal is Right For You? But the outcry from leftist Disney workers [] Of course, Iger is no longer working for Disney and does not hold any weight to make that kind of a change in the company. A Walt Disney Company insider tells The Hollywood Reporter that unlike his predecessor, Bob Iger, Chapek doesnt wish for Disney to wade into political discussions. Bob Chapek has been in the position ever since. Governor DeSantis has appointed members for the new board in charge of what once was One celebrity is championing the possibility of a Disney movie sequel! He would do well to remember the words of Elie Weisel: That would mean Scalise will likely become House majority leader, making the congressman the No.2 official in the majority party. 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. Chapek might claim he doesn't want his company to be a political football, but his . Disney initially sought to stay away from the issue and not take a position, but a vocal segment of its workforce demanded that the company come out in opposition to the legislation. Ron DeSantis to strip the company of its self-governing, autonomous status in retaliation for. FULL LINEUP Announced for the 2023 EPCOT Flower and Garden Festival Garden Rocks Concert Series. As the executive crosses into his third year as Disney chief after replacing the long-running Bob Chapek in February 2020, Chapek is still facing the fallout over the company's perceived lack. Want to see more on leaders at The Walt Disney Company? On top of the stock woes, Disney CEO Bob Chapek has become a punching bag for cultural critics. The decision for Chapek to be replaced by Iger was made after a disappointing fourth-quarter earnings call, and Iger is now expected to turn things around for the company. Before becoming CEO, Chapek had a 26-year career with The Walt Disney Company, beginning in the Home Entertainment division, and eventually rising to become Chairman of Parks . Check out the newest 100th anniversary pins that you can get on Amazon now! Chapek took on the role of CEO back in February of 2020 from Bob Iger, right before the entire world shut down due to the COVID-19 pandemic. Twitter users pressured Iger to push this issue with Chapek, whose silence on the matter has been brought up by LGBTQ Disney fans and employees, calling Disneys donations to the bills supporters into question. In his speech, encouraged the class to not be discouraged by the current social climate in America. Eisner made a comment comparing both CEOs, saying, There is no loser here. 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. Menus have finally been released for this year's EPCOT Flower & Garden Festival! from 1999 to present. The opinions expressed by contributors are their own and do not necessarily represent the views of . Bob Chapek took over from Robert A. Iger in February 2020, just before the pandemic caused Disney to shut down most of its businesses. 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. We respect your right to privacy. Many fans and investors have celebrated the return of Bob Iger as The Walt Disney Companys CEO. Now, of course, taking control of a company during a pandemic is no easy task and a lot of issues cannot and should not be blamed on Chapek. No one says the company shouldnt make a profit but strategy to do so could use another look. Well have to wait and see if Iger adjusts the current plan for Disney+. Now, Guests have noticed a pretty public display of disapproval at the runDisney marathon event happening at the Magic Kingdom. Full list of Disney Dining FAQ Pages, Staff & Regular Contributors Chapek graduated from Indiana University Bloomington with a degree in microbiology. figures, get ready to do some shopping! Whats With the Barefoot Trend at the Disney Parks? trademarks, service marks, and trade names are proprietary to Disney Enterprises, Inc. or, its Disclosure Policy A Popular EPCOT Experience Returns After 3-Year Closure, MAJOR Price Increases Hit Cinderellas Royal Table in Disney World. He said, "Cultivate patience, and no matter what the odds, be optimistic. While Disney has certainly sided one way or another in the past, there was not quite a time when Disney found itself in the middle of a political discussion, especially one so fierce. It is important to note that Disney is engaged in an initiative that further promotes diversity and representation in all of its Parks and films, something that some fans may feel is political in nature anyway. Steven FerdmanGetty Images Bob Iger's return as the CEO of. We can help! According to Wells Fargo analyst Steven Cahal, The Street will see [Iger] as a steady leader in uncertain times. However, its important to remember that many of the major changes that happened in the parks took several years to develop, and things like Genie+ were likely in development while Iger was the CEO the first time around. We shall see. His experiences will always be the same if not better than pre-Covid. He received a Masters in Business Administration from Michigan State University. The Disney World MISTAKE Youll Make in March, NEW Amazon-Exclusive Disney 100th Anniversary Items Now Available, Check Out the NEWEST Additions Coming to the EPCOT Flower and Garden Festival. Under pressure from LGBTQ activists and progressive employees - some of whom who have walked out of the job in protest - Disney's Chapek's eventually criticized the Florida legislation, paused. Wow! He is 61 years old as of 2021. However, Disney may be backtracking on how political it decides to get in the future. According to contract details disclosed in a Securities and Exchange Commission filing, the extension begins on July 1 and runs for three years. In addition, Iger was the one who got the ball rolling with Disney+ (the service launched during his first time as CEO), so some experts are concerned that he wont be able to change strategy in order to increase profitability. The current park climate and programs are NOT our Disney normal. He also worked with JCPenney to put wholesale stores in its department stores. These are complex social issues where we absolutely, positively want to represent the needs and the expectations of our cast members, but we also realize that sometimes in such a divided world, theres not alignment between what possibly large constituencies of our guest and consumer base are looking for in terms of the kind of content that they want to show their kids at this particular time, Chapek told THR. Iger, however, was fairly vocal about the issue early on. When he talks about modernizing storytelling, that's what he's referencing. We were reminded, through the passion of our cast reaction, how important their sentiments are on these issues in terms of making them feel that they were part of The Walt Disney Company, Chapek said. AllEars Merchandise | Integrated Planning Associate Sophia Pino (@sophiapino) shared an image from the event, which you can check out below: DMED Town Hall with Bob Chapek and Kareem Daniel at the El Capitan Theatre! Chapek acknowledged to The Hollywood Reporter that the Mouse House was walking a tightrope. His term was recently extended to mid-2025, and the paychecks between now and then add up to roughly $6.5 million. } 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 a company email on Friday that Disney will pause all political donations in the state during a restructuring of its political giving framework.. Chapek also apologized directly to the company's . Chapek recently gave the commencement speech to the graduating class of 2022 at Indiana University (the Disney CEO's alma mater). Disney is a source of positivity in the world, no matter your sex, race, or politics. 7/$11,106. 2 BIG Changes Coming to Disney World Restaurants This Week! In "The Courage to Be Free," the governor describes a conversation with former CEO Bob Chapek about Disney's political activities. After that decision, Disney told employees it will cover travel expenses related to out-of-state abortions. Let us know in the comments. Walt Disney Co. CEO Bob Chapek apologized to employees at the company for the company's handling of Florida's so-called "Don't Say Gay" bill and said that it would be pausing political . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. CEO Robert Chapek had originally pledged to not weigh in on the Florida legislation. Soon after replacing longtime CEO Bob Iger on February 25, 2020, Chapek was hit by the . 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. 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. Privacy Policy Probably worries its going to effect how much money he will make. Interestingly, Disney has actually supported those who sponsored the bill. This is a far cry from former CEO Bob Igers approach to heated topics and issues. Guest Post Guidelines Disney Dining Plans 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. Ordering a Cake in Disney World 56 Must-Read Disney Dining Secrets from Disney Food Blog, Disney World and Disneyland Food and Wine Festival Details, Disney Recipe From the Vault: Main Street Cinnamon Rolls, Top 10 Disney Dining Tips From the Experts. 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