Disney CEO Bob Iger alluded to Bob Chapek’s short tenure as CEO during the company’s Monday morning earnings call.
“When I came back three years ago,” Iger said, “I had a tremendous amount that needed fixing. But anyone who runs a company also knows that it can’t just be about fixing. It has to be preparing a company for its future.”
Iger attempted to retire in 2021, leaving Chapek in charge of the company. But in late 2022, the board of directors fired Chapek and brought Iger back, ultimately extending his contract through 2026.
Iger, who hand-picked Chapek as his successor, has since indicated the choice was his biggest regret and he was disappointed watching Chapek’s tenure. Before Iger returned to the CEO position, the two reportedly had a falling out.
Iger says The Walt Disney Company is in much better shape than it was three years ago because “we have done a lot of fixing, but we’ve also put in place a number of opportunities, including the investment across our experiences business to essentially expand in every location that we do business and on the high seas.”
“I also believe that, you know, in the world that changes as much as it does, that in some form or another, trying to preserve the status quo was a mistake, and I’m certain that my successor will not do that,” Iger said, referencing his successor, who will be named any day now. “So they’ll be handed, I think, a good hand in terms of the strength of the company, a number of opportunities to grow, and also the expectation that, in a world that changes, you also have to continue to change and evolve as well.”
Disney Experiences chairperson Josh D’Amaro is considered the frontrunner to replace Iger, but Disney Entertainment co-chair Dana Walden has also been in consideration.
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