It’s official… The Walt Disney Company finally realized what millions of fans have been saying for the past two years: Bob “Paycheck” Chapek is ruining Disney. Chapek is out and… you guessed it.. Bob Iger is back as CEO!
My good friend, Tim O’Day of To’Day Group PR, posted on Facebook, “The sighs of relief and joy emanating from Burbank right now just registered on the Richter scale! Great News!”
The rule of Mr Paycheck has been an absolute disaster. To be fair, he transitioned into the role of Disney CEO just before the COVID-19 pandemic, in which we saw Disneyland close for a year. When the Happiest Place On Earth finally reopened, many (myself included) felt as if the magic had been sucked out of the parks.
The continued reservation system has been frustrating for local pass holders who historically have wanted to pop in for dinner last minute on a whim. At the same time, the Annual Passes have skyrocketed in price, all while the experience one can expect is less than magical.
Fast passes were taken away and replaced with the Genie Plus program that costs $25 per day per person. The cast members at Disneyland rarely have that Disney Magic you’d expect at the park. I was told by a cast member that approximately 70% of the cast members are new because those that had been with the company for years were tired of the “new” Disneyland.
Food at the parks saw their hit too, with prices rising while portion size and quality dropping dramatically. For example, one of our favorite places to eat had always been Storytellers Cafe in the Grand Californian. The last time we visited, however, was the first time since Chapek took over… and the food was literally inedible. And, oh yeah, the prices were astronomical.
And then there’s Disney+, which began under Bob Iger’s reign as CEO, and which followed the same trajectory as Disneyland under Chapek. The movies and series under Iger were sparse, but were still quality shows. Since Chapek took over, however, I’ve come to assume that Disney is just going to ruin another franchise with whatever release that’s coming out.
My husband and I have been diehard Marvel Cinematic Universe fans ever since Iron Man came out. When the first Avengers movie was released, we went to a movie marathon at the theater to watch the entire series in one day before the release of Avengers.
Since Chapek took over, we’ve completely stopped watching Marvel movies and series. The quality is just not up to the Disney standard. We even started watching the new Thor movie and turned it off half-way through… it was just bad.
Sure, Bob Paycheck was not the one who made the movie. But the way that he was running the Disney Company is what caused the subpar quality in virtually every aspect of the company, including their filmmaking. It trickles down from the top.
It was interesting to watch the new Mickey documentary the other night on Disney+, and my husband and I noticed that Bob Iger was interviewed for the doc, but Chapek was not. Granted, it was filmed months ago. Did they cut Chapek or not include him in the documentary at all? Weird timing, for sure.
It’s going to be interesting to see how Iger handles the next two years as CEO. Is he going to revert back to the Disney that we loved prior to Mr Paycheck’s reign of terror? How quickly will we see an improvement at Disneyland and on Disney+? Only time will tell.
However, one thing that I can truly say about Bob Iger replacing Bob Chapek as CEO of The Disney Company… It’s a Thanksgiving miracle!
Here’s the full press release from Disney:
The Walt Disney Company Board Of Directors Appoints Robert A. Iger As Chief Executive Officer
BURBANK, Calif., November 20, 2022—The Walt Disney Company (NYSE: DIS) announced today that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position.
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said Susan Arnold, Chairman of the Board. “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.”
“Mr. Iger has the deep respect of Disney’s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide–all of which will allow for a seamless transition of leadership,” she said.
The position of Chairman of the Board remains unchanged, with Ms. Arnold serving in that capacity.
“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” Mr. Iger said. “Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe—most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling.”
During his 15 years as CEO, from 2005 to 2020, Mr. Iger helped build Disney into one of the world’s most successful and admired media and entertainment companies with a strategic vision focused on creative excellence, technological innovation and international growth. He expanded on Disney’s legacy of unparalleled storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and increased the Company’s market capitalization fivefold during his time as CEO. Mr. Iger continued to direct Disney’s creative endeavors until his departure as Executive Chairman last December, and the Company’s robust pipeline of content is a testament to his leadership and vision.