BURBANK, CA — Bob Chapek, whose two-year tenure as Disney CEO has been much infamous for skyrocketing prices at the company’s theme parks and an alleged progressive. “Agenda” in its entertainment content which has caused its stock to decline, fired on sunday In a move that shocked the industry, former CEO Bob Iger returned to take over once again.
Chapek, 62, has been Iger’s chosen successor after the previous CEO decided to retire after 15 years at the helm of Disney; However, Iger has been lured back to his old job after Chapek failed to successfully bring the iconic brand back to its peak following the COVID-19 pandemic.
Disney President Susan Arnold said in a statement Sunday on Chapek’s dismissal, expressing her appreciation for his time with the Mouse House and wishing him well in his future endeavors.
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” he Told; Chapek did not release any statement regarding his dismissal.
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Over the past year, Disney’s stock has declined more than 40 percent for a number of reasons, one of which is the company’s perceived move away from television programming in favor of family-friendly films and far-right progressive. Content that clashed with the more conservative sensibilities of most of its user base.
Under Chapek’s watch, Disney’s Florida parks offered long-term and lucrative tax breaks following the company’s decision to publicly oppose Governor Ron DeSantis’ Florida Parental Rights in Education Act – also known as the so-called Lost it. “Don’t Say Gay” law – that forbids “classroom instruction” On sexual orientation or gender identity in kindergarten through grade 3.
The Disney board of directors stood firmly behind the decision to draw Iger out of retirement, saying he was the only person qualified to help the entertainment conglomerate transition into a new era.
The board said, “Bob is uniquely positioned to lead the company through this important period.” “He has the deepest respect for Disney’s senior leadership team, most of whom worked closely together until his departure as executive chairman 11 months ago.”
Iger, 71, released an email to the company announcing his return.
“Dear Fellow Staff and Cast Members. It is with an incredible sense of gratitude and humility – and, I must admit, a little astonishment – that I am writing to you this evening with the news that as Chief Executive Officer of Coming back to The Walt Disney Company,” he said. “I am amazed by your accomplishments and I am excited to embark on many new endeavors with you. I know this company has asked a lot of you during the past three years, and these times have certainly been challenging, But as you’ve heard me say before, I’m an optimist.
