Disney execs want CEO Bob Chapek replaced, says scathing new report

After a number of poor corporate decisions, a new report reveals that Disney executives are hoping CEO Bob Chapek will be replaced.

According to a new report, some disney executives are actively encouraging CEO Bob Chapek to keep making mistakes so he can be replaced. Chapek previously headed the Buena Vista Home Entertainment division before becoming president of Disney Parks, Experiences, and Products, where he became a controversial figure due to his price hikes and focus on intellectual properties. . He was chosen to succeed longtime Disney CEO Bob Iger as head of The Walt Disney Company on February 26, 2020, just a week before the global COVID-19 crisis began to take effect.

Since becoming CEO, Chapek has made a number of controversial decisions that have reflected poorly on Disney. His decision to take Black Widow available to stream on Disney+ the same day as cinemas resulted in a lawsuit from star Scarlett Johannson that, while quickly resolved, was something many could never imagine happening under Iger’s tenure. More recently, Chapek fumbled Disney’s response to Florida’s “Don’t Say Gay” bill, drawing criticism from employees and the public.


Related: How Bob Iger Saved Disney: Everything He Did As CEO

Now a new report from Puck reveals that some Walt Disney Company executives are so pessimistic about Chapek’s ability to lead the company that they hope he “digs itself an ineluctably deep hole“, forcing Disney to pull it. Chapek also faces an uphill battle with Disney+’s profitability, as subscriber numbers continue to grow, but revenue does not. Disney+’s average revenue per user is 6 $.32, compared to Netflix’s $14.92.That’s a substantial gap, and investors are increasingly wary of Chapek’s ability to grow his earnings.

Disney+ logo with films released in 2021

There’s no doubt that Chapek’s lack of content experience has hurt the business. Chapek’s decision to send Pixar‘s last three original films – Soul, Lucasand turn red – straight to Disney+ at no additional cost, as opposed to a theatrical release or a hybrid release with Premier Access, has left Pixar employees feeling demoralized. According to analysts, send turn red to Disney+ likely cost the company $300-400 million in box office revenue.

In March, various insiders speculated that Chapek could be replaced as CEO after just two years. It seems increasingly unlikely that Chapek will be remembered in the same way as former CEO Bob Iger, or even Michael Eisener, who, while exiting on a sour note, ushered Disney into an era of success from the late 80s to the 90s. Chapek’s legacy to disney is already tarnished, and he will have to make big leaps and successful choices to restore confidence in his ability to lead the company.

Next: Disney Needs To Properly Correct Its LGBTQ+ Mistakes Across All Franchises

Source: Puck (via CBR)

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