Disney Shareholders Plan to Vote Against Bob Chapek’s Re-Election to Board of Directors
Disney shareholders on Reddit are planning to vote against CEO Bob Chapek’s re-election at the March 9 annual shareholder meeting.
Reddit user MightyIrish wrote in the thread “Unhappy with the Current State of Disney Parks?”, “If you are a Disney shareholder you likely received an email yesterday asking you to vote in the annual meeting. Bob Chapek is up for re-election to the board of directors.”
“This is the most direct way to let Disney know if you are unhappy with his leadership, at least more so than complaining on Reddit or signing an online petition,” they went on. “It may seem insignificant, and will likely not be successful in removing him directly, but recall that Michael Eisner lost 43% of the vote in 2004 after Roy E. Disney lead a campaign to oust him and he was removed shortly thereafter. We can do this again.”
Users in the thread are venting about how visiting Walt Disney World no longer feels magical under Chapek’s tenure as CEO. Bob Iger handed the position over to Chapek in early 2020. Chapek made $34.5 million last year.