According to the media The Wrap uncovered reports: behind the scenes of the Disney executive changes –
1. Disney’s stock price has plunged 41% since January this year; at the earnings meeting earlier this month, Bob Chapek and other executives acted as if nothing had happened and created a prosperous scene, but the voices of dissatisfaction still couldn’t stop; the situation changed.
2. Bob Chapek alienated too many people during his tenure and took too many unnecessarily drastic moves, including publicly confronting Scarlett Johansson; he also fired respected TV executive Peter Rice and removed all those who posed a threat to his position to consolidate power.
3. Bob Iger has told close associates in the past few months that he thinks “Bob Chapek is a mistake.
Disney’s board of directors held an emergency meeting on Saturday night and decided to oust Bob Chapek and install a new CEO, Bob Iger. after the opening bell this morning, Disney stock jumped ten points.
5. The first step after Iger’s return is expected to be the dismantling of the centralized system built by Bob Chapek and the devolution of creative and budget allocation from the media and entertainment department, which is currently controlled by Bob Chapek’s close friend Kareem Daniel, to each film and TV studio.
6. Iger may continue to adopt its best acquisition strategy in the next two years. But compared to the past, there is currently too much pressure on Disney in terms of acquisitions, as the debt left after the acquisition of Fox’s assets is still undigested, amounting to $48.4 billion.