The Walt Disney Company Issues Statement on the Firing of Bob Chapek

The Walt Disney Company has released a statement following the news that Bob Chapek has been fired and Bob Iger will return as CEO.

Bob Chapek
Image source: Deadline

Read Disney’s full statement below:

“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.”

Chapek was rumored to be “Iger’s greatest regret” as a CEO successor, and their conflicts during Iger’s tenure as Chairman of the Board while Chapek took the reins were widely reported.

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34 thoughts on “The Walt Disney Company Issues Statement on the Firing of Bob Chapek”

    • Woohoo, while I’m not saying go back to all of the best things but many if them. Some thing did need changing but the cost if every little thing
      Please think about bringing back the important things….us middle class needs that

      Reply
  1. I am curious to see how the new people work with him. Also I actually imagined a sinario where they both went on Doctor Phill to sort out their differences. It would be an interesting experience for sure.

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  2. Returning Iger as head without cleaning house will not bring back loyal Disney fans ! We want family approved shows- not LGBTQ! We will stay away!

    Reply
  3. I’m profoundly relieved by this news. I don’t know what, if anything, this could mean for the future of Disney Genie Plus and the park reservation system, but I’m looking forward to my next Disney World trip with much more optimism now.

    Reply
  4. It’s certainly not the money driving Igor’s decision. His love of the company, a reputation tainted by a bad decision to recommend Chapek and a desire to “save” Disney once again are some of the motivators.
    He’s the man for the time but the challenges are pretty high. One challenge is working with a board that appears to be a bit clueless.
    The biggest one, again, is who will follow him.

    Reply
  5. About time…get rid of WOKE,get back to magic and family value, and values I going to the parks. Crowd control thru a true system, not just jacking up prices. Those of us who have litterally grown up with Disney, my first visit was Sept 1955, love the park and Walts Dream…please bring it back

    Reply
    • According to the Merriam-Webster Dictionary, “to be ‘woke’ politically means that someone is informed, educated and conscious of social injustice and racial inequality.” THIS is what you are publicly protesting?

      Reply
  6. I’ve been going to Disney World for almost 50 yrs. It was during Bob Iger tenure that I was convinced that DVC was for my family and I. Then he left shortly after. I was not a big fan of Bob Chapek. I started having regrets about my DVC purchase. Especially all the nickel and dimming. But NOW I am so thrilled to know that Mr Iger is back. I’ll be retiring in a couple of years and the wife and I are moving to Florida. I think I’ll be trying to get a job at Disney World. Thanks Bob Iger

    Reply
  7. Great news! can you look into getting rid of genie plus and bring back free fast passes. and no more park reservations to start ?

    Then maybe scrap the plans to change splash mountain? It’s no racist. Most people don’t even know the movie. yes it was Song of the south but the black man was loved by the family not a slave and they proved it by calling him uncle Remus :)

    Build the princess and the frog ride some where new
    thanks for your ears :)

    Reply
  8. Those are tears of joy streaming down my face. Hiw the he’ll did one person do so much damage in 11 months. THANK YOU BOB FOR RETURNING TO DISNEY. I will now return to the parks I so loved before they were run into the ground. I just hope it’s not to late to undue all the damage that has been done

    Reply
  9. Hahaha the comments people are leaving about Disney being too “woke”, and “bring back family values”… Grow up, it’s friggen 2022 and there are more types of people than YOU.

    Reply
  10. Hooray – Bob “Paycheck” is gone! I have been a Disney fan, follower, and vacation goer since, well “The Wonderful World of Disney” as well as my 37th visit in February 2022. It was the worst one since I’ve been going to WDW! Suggestion – get rid of Genie, additional costs for attractions that is included in the already expensive tickets (thanks to Chapek), and bring back the Disney spirit that has been lost. Get back to family and maybe I will come back because I had not planned to ever go back!! It made me so sad that the “happiest place on earth” disappeared! Thanks for listening!

    Reply
    • Unfortunately, no. They actually removed the elements from the water. The globe is in the junkyard now. It was my very favorite nighttime show at WDW, but unfortunately, it cannot return now as we know and love it.

      Reply

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