News of Bob Iger returning as CEO of Disney as a greater shock
The stunning news of Bob Iger returning as the CEO of Disney while Bob Chapek was outshot through Hollywood like a thunderbolt to Dana Walder and Craig Erwich who were expecting to spend their Sunday evening enjoying the AMAs followed by Elton John farewell concert at Dodger Stadium.
Bob Chapek with his current plans in developing disney
It was a triumph for Bob Iger though he inherited the same problems plaguing all legacy media companies as their longtime revenue sources.
One source said the Disney board had divided over keeping Chapek in place for the past several months which was the deciding factor according to him.
Chapek suggested the need for a cost-saving during a meeting. Later he plans on cost cutting which includes a hiring freeze and layoffs.
Iger with his effective workings
Sources said to Iger will unwind the reorganization that Chapek put on, which will effectively move the power of pursuit from Bob Iger’s creative executive team to Chapek.
Board Chairman Susan Arnold noted in a statement that Iger is greatly admired by Disney employees and will be a great leader.
The last formal meeting of Bob Iger with Disney
Bob Iger in his last formal appearance in Disney had given a speech on the importance of creativity that many companies interrupted as a slam at Chapek.
In his speech, he said that a world and business that is awash with data is tempted to use data to answer the entire question and that also includes creative questions.
He said that he urged them not to use such a method for their creative-related questions.
He said that if Disney had relied too heavily on data then there won’t be any big breakthrough movies like Black Panther, Coco, Shang-Chi, and many more.
Chapek’s last email to all the employees was on November 11 which was based on the creation a cost structure task force.