Disney Shareholders Plan to Vote Against Bob Chapek’s Re-Election to Board of Directors

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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.”

They linked to a 2004 New York Times article about the Eisner incident.

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.

A “Fire Bob Chapek” petition on was shared last year by former Walt Disney Imagineers and has now amassed over 95,000 signatures.

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  1. Its about time someone is listening. Chapek has worked hard to bury Walt Disney in favor of Chapekland. Good job stockholders.

  2. I hate to differ with the community of fellow lifelong Disney fans, but …

    Don’t you think the whole world feels a little less magical post-pandemic? Oh, I feel it when I go to the parks since and during 2020 too. But I honestly don’t think it’s just Disney parks. And I think this CEO took the reins, during one of the most trying times of the last century. I don’t think anyone would have handled keeping the company afloat any better than he did given the dynamic challenges of a changing business landscape in 2020.

    I think folks are simply angry over paying for fastpass. The fastpass system was failing hard right before the pandemic in January and February 2020. I don’t like it either, but how else were they to get the fastpass lines to stop being almost as long as standby? I haven’t heard anyone else suggest a better solution, despite the many complaints, than to cut down on the number of fastpass customers by charging a fee. Hasn’t Universal always done that with Express? It’s not even an original solution. They just did what other parks in the industry seem to do to fix it.

    1. FastPass+ worked perfectly fine. For our May 2020 trip (which we never took) I had all of the FP+ selections I wanted – the system worked perfectly. Genie is a **** show. There was no reason to change it other than Disney needed a new revenue stream due to failing attendance in their parks and poor subscribers for Disney+

      Don’t make excuses for Disney’s bad decisions and poor leadership.

    2. I agree. I think that he is just been in a difficult position and is just doing his best. I know some other factors too such as imports from China. And it’s not just happening to Disney, but everywhere else in the world.

    3. If you work there, it’s waaaay less magical. Chapek is a bottom liner without a creative bone in his body. He needs to GO!

  3. Chapek’s issues stretch long beyond the theme parks. Many areas of the company are having issues under his watch.

    Almost all Disney Stores are closed. ShopDisney online is missing merchandise opportunities from the theme parks, causing ridiculous resells of merch on eBay. Disney Plus is rumored to have some issues as well, possibly not meeting subscriber expectations. Of course, cable is still in decline.

    What area of the company, besides Marvel post-Spider-Man, is doing good?

    Even Pixar lost its next theatrical release to Disney Plus. While it might boost subscribers, wasn’t Turning Red going to go on the service anyway? Seems like yet another Chapek mistake.

    1. I was upset when Disney took away all the perks from staying at a Disney resort: luggage picked up by Disney staff at the airport and delivered to your room, Magical Express, Disney transportation, and maid service that actually tidied your room daily. Disney transportation is slower now. Many of the bus drivers are not Disney employees and the buses look generic. No maid service. No complimentary transport from the airport. Inflation tax on everything. Smaller portions. Paying for fast pass. Park Hopping still not normal. Disney wants park reservations for years (so they know how many cast members to schedule for work). And what about the FAKE star wars cruise? Okay, my rant is over.

    1. It’s not going…exactly. The story is being changed to Princess and the Frog. The former storyline has negative cultural history. I’m looking forward to the update.

  4. Aww man I just bought a share. I didn’t see an email yet, but if I do for sure I’ll #firechapek!

  5. Hopefully this will be the beginning of the end of him at Disney and the person to replace him would be Walt would have approved of. Then Disney would be put back on the right track and stay that way!!!!!

  6. Oh my God. Don’t people get that he has been placed in a leadership role during one of the most troubled times in history. On top of that the things people are complaining about aren’t entirely his fault as it’s not just happening in Disney World but everywhere. The prices are actually due to the fact that imports from China have been slowed down because of the pandemic. Plus if the rumors with John Favero are true then Chapek is trying to prove himself and make good on his 3 points of success. I think the hate is overrated and out of control. I literally had to stop a guy from taking things to far. I just hope that you and people who read this understand what I am trying to say here and not go promoting what this user on Reddit said.

    1. Failing attendance in their parks and resorts. Poor Guest satisfaction surveys. Poor subscriber numbers for Disney+ Lackluster launch of WDW’s 50th anniversary and the Galactic Starcruiser. Scarlet Johanson PR nightmare. Petition upon petition calling for Chapek’s resignation.

      Don’t make excuses for Disney’s bad decisions and poor leadership. We all miss the company Disney once was and that Chapek has ruined.

    2. WOW Disney Boy! You neglect to acknowledge that while Disney cast members were furloughed, with most struggling to live on unemployment, Chapek and company took tens of millions of dollars in compensation, and raised ticket prices again and then again, and dumped Genie+ on us, and announced a $6,000 2 night “experience” aboard the Enterprise (it looks like the Enterprise) for a family of 4, raised food and merchandise prices again and then again, raised hotel prices ($200+/night at “value” resorts, that’s an “Oh My God”), and ended airport transportation in Orlando as part of a vacation package. That’s the short list. Then Chapek announced one of his goals is “relentless focus on the audience?” Hypocrite of the worst kind. In an effort to cut costs of Imagineering, Chapek is forcing the majority of Imagineers to move to some mosquito infested, lake front, and as of today, unbuilt office complex. This is the typical corporate move to get long time employees, those whose compensation Chapek views as a liability, to quit. None of this adds up to anything positive about Chapek. As I mentioned in my comment, I’ve voted against all recommendations of the board and encourage others to do so as well. I’ll gladly accept a 7 day, all expenses paid “magical” holiday for just 2 (the kids are on their own), including airport transportation, deluxe resort hotel room of my choosing, park hopper tickets, and $2000 for Genie+, meals and souvenirs (retail value $8500) during value season, from anyone who believes that Chapek deserves endorsement for his “leadership.” Chapek should be featured in the next, overpriced, Villians after-hours event, which I would gladly attend if one of his defenders would just buy me a ticket. Spread the “magic.”

  7. As usual, the proxy vote notification is sent with “recommendations” on how shareholders should vote. I make it a point to read the entire Annual Report and supplemental materials even though my shares are pitiful compared to some of the Board Members and employees who control the vast majority, and I make my own decisions. I voted against Chapek last year and fully intend to do the same this year.

  8. Taking over during the pandemic doesn’t really explain the nickel and diming that is going on at Disney parks. And, Chapek is violating one of the core tenets of the parks. Walt wanted his parks to be a place where everyone was equal. Chapek is only further highlighting that money equals more fun and more access. It’s one thing to do that by adding on things, but it’s another to do it by taking things that were free, making them expensive, and still giving less than what was previously offered as a benefit of being a guest in the resort/park. Right now it really feels like when I go to a park, my $100+ ticket is just access to more ways for Disney to take my money. And, I would maybe be okay with some of it if I felt like the quality of the show was maintained. But standing in line after line after line to get literally anything really makes it feel more like a government office than theme park.

  9. I’ve voted with my shares. NO on all approved by the board, YES on all not recommended by the board. WE CAN DO THIS. PLEASE VOTE!

  10. I’ve been going to Disney for 45 years. I have probably traveled down to Disney an average of at least once a year. It was always magical until the past couple of years. It’s nose dived. Walt Disney would roll over in his grave if he knew how the magic has been sucked out. And it IS NOT just about fast passes. Cast members are not jolly, helpful, and into their “roles” anymore. They are more like soldiers. No one goes above and beyond like they used to. Everything has been stripped of imagination. The paint isn’t kept up like before, not as clean, not as friendly, not special. They don’t try to hide constructions with cute displays. They don’t keep rides updated. The rides are breaking down too much. The masks are getting way old. When families are paying 10,000 for 4 days at a park they should be able to breath! The food options and quality have gone downhill. It’s sad, very disappointing. They make plenty of money off customers and can do way better. It’s just not close to what it once was and that’s a pity. You might as well go to Six Flags. And I was as big a Disney fan as they came. I would never have believed I’d be feeling this way, but it is crazy disappointing. This guy doesn’t get it. I hate that my grandchildren will probably never know what the real magic was. Who else would ever care as much as Disney or his family? 🙁

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