Former CEO of The Walt Disney Company, Bob Chapek, has been appointed to the Board of Directors at medical tech firm Masimo, his first major role since being fired from Disney back in 2022.
Bob Chapek Named to Masimo Board of Directors
According to Deadline, the appointment comes during a patent dispute between Masimo and Apple over a blood oxygen tool feature in Apple’s latest edition of Apple Watches. The latter pulled the current edition of watches off the market following the International Trade Commission ruling that the feature infringed on Masimo’s patent.
I am thrilled to join the Masimo board. I look forward to helping advance the company’s growth by leveraging their core technologies in the consumer and consumer health spaces.Bob Chapek
Joe Kiani, Chairman and CEO of Masimo, also released a statement on Chapek’s appointment to the board, saying “We are honored to have Bob join the board. As we execute our hospital to home strategy, we expect to benefit greatly from Bob’s role on our board.”
Chapek began his time as Disney’s CEO in 2020, following current-and-former CEO Bob Iger’s retirement announcement that same year, and named Chapek as his successor. Iger stayed on as Executive Chairman for nearly two more years, and took on some CEO responsibilities during the height of the COVID-19 pandemic. The pair reportedly had a falling out resulting from conflicts during Iger’s time as Chairman.
Chapek was fired in November 2022, and Iger returned immediately to the role; he later said in 2023 that he was “disappointed” watching Chapek’s tenure as CEO. Chapek reportedly called it “about three years of hell.” Iger is currently contracted to stay on as CEO through December 2026.
Upon his departure from The Walt Disney Company, Chapek received a severance package worth $24 million for 2022, and was set to receive payments valuing over $20 million, as long as he successfully completed “all of the terms of his post-employment consulting agreement.”