The Inside Story Of Disney And Bob Iger's Succession Chaos
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- čas přidán 5. 09. 2023
- CNBC’s Alex Sherman reports on the inside story of a CEO succession plan gone awry at Disney- a cautionary tale about ego and hubris at the highest levels of corporate America. Sherman spoke with more than two dozen people who worked closely with Bob Iger and Bob Chapek between 2020 and 2022.
Reporting by: Alex Sherman
Supervising Producer: Jeff Morganteen
Camera: Timothy Fadek
Graphics by: Alex Wood
Production Support: Jordan Smith, Doris Breitfeller, Alana Cooley
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The Inside Story Of Disney And Bob Iger's Succession Chaos
Disneys quality of programming has a lot to do with downfall. Star Wars movies really fell off and the box office just reflected poor story choices.
They literally said there's no source material, even though they literally had the entire EU. I've started reading the Heir to the Empire novels and they're amazing so far. Knights of the Old Republic has better writing than the last two trilogies combined despite being just a role-playing game.
I was born and raised in the late 80's and 90's seeing Disney as something in between the dreams and reality.
Look at disney now
What an embarrassement
Iger looks much more 'Hollywood friendly' that Chapek does.
That's what happens when you put a money robot in charge of a company that sells emotions lol.
charisma
The music is too loud. Can't here the reporter.
*Hear
Who was the person that cancelled the Lizzie McGuire reboot? They should be fired
Really, head on the chopping block.
it was hilary duff's parents, followed by hilary duff.
Iger
The most important job the Disney Board, or any board, has is to successfully execute a succession when it is time. The Board of Directors is essentially to blame here. My understanding is that they are all hand picked from Mr. Iger and Blackrock and Vanguard. Nobody is looking at serving the customers, only looking at agendas and saying yes to leadership.
That’s because it’s all about keeping their blackrock score good it not about listening to the consumers anymore for these companies especially when blackrock has been dubbed the unofficial 4th branch of government that’s what the people crying woke this and woke that don’t understand it’s not that theses companies want to do this stuff is all about the blackrock score theses days
@@kevin10001it’s not the public’s responsibility to care about what is motivating a corporation to push political agenda in lieu of products they actually want. Blackrock/Vanguard esg/dei crap being the reason for it isn’t that much of a secret, nor is it going to inspire consumers to spend their money on woke garbage and promote an agenda they disagree with. People don’t care _why_ corporations are doing it. All that matters is that they are
Igers reign at Disney did not take into account the large amount of debt he put the company into.
Lower theme parks prices / that's what people really care about
Consumers would immediately drop their cable packages if they could get ESPN and all affiliated networks directly. I certainly would.
The sad reality is that Chapek was an awful leader who only cared about meeting arbitrary short term metrics at the expense of making real long term investments, and even when he did make big investments they were geared towards a minority of super high net worth people.
It was immediately noticeable when he took over Parks and Resorts from Tom Staggs as all of a sudden there were tons of half a**ed horrible upsells that starting popping up all over the place. Cabana's (AKA tents) in the theme parks, Harambe Nights at DAK, Villain's Mix and Mingle at DHS, pay money to ride the bus past security and get dropped off in the park, cupcake parties for all of the fireworks shows, etc. And his pathetic use of the teleprompter...I mean all Disney execs do it, but Chapek was so bad at it lol.
Sadly for the company Iger saw that the parks were all of a sudden more profitable under Chapek than under Staggs and decided to promote him to CEO, but the reality was the reason they were more profitable was because he was doing major cuts and upsells for short term revenues at the expense of the long term reputation of the company. Iger should have seen past this and made a big mistake and it was not surprising at all that they did not get along after Chapek became CEO.
BTW I don't view Iger as some great saint like many do either. He could easily get rid of individual lightning lane if he wanted to, the ridiculous overuse of IP where it doesn't belong is his strategic priority, lack of creativity at the studio with horrible unnecessary remakes over and over again, etc. There is no question though at least the people that work for the company and its investors at least trust Iger more than they did Chapek.
I think Disney and Iger have an unhealthy co-dependency problem over the years. The stock is down over 50%, still doesn't pay a dividend even though the parks business had record profits and carried the company post covid, and Iger is 72 years old. They badly need new management. I don't think someone from outside the company would be a good idea because the Disney culture really is a lot different from any other company and needs someone that knows how to navigate that, but i'm sure there are "inside outsiders" somewhere who have lots of experience with the company but don't like what they have been seeing and can turn it around. Like Iger was to Eisner in 2005. Now that they brought Tom Staggs back as a consultant maybe that was step 1 in a return to the company and that would be a great move.
(Also on a semi related note i'm personally getting great satisfaction out of seeing ESPN having so many problems recently. What was once one of the biggest cash cows in corporate America got completely pwned because of straight up terrible leadership and management. You get much better analysis from random guys in their basement with no money than you get from ESPN. /semi related rant).
That was a high quality comment. Thank you for sharing your thoughts
Great comment. I do believe a lot of this Disney Downfall drops squarely at the supposed CEO Genius Bob Iger.
Disney’s stock is still in the toilet, they’re bleeding money, and their movies are tanking. All under the new regime.
One of the best take on DIS. You hit points that I didn't even think about.
I don’t know who you are, or what you do but if I was Disney I’d hire you as a consultant or advisor or whatever the position is called. Honestly what an amazing analysis, and one of the best comments I’ve read in the history of CZcams.
You are in intellectual person. This comment is some high level CEO meeting stuff, but the last paragraph shows your a little too emotional which is a pro and con.
Iger is a bad leader in the sense that he made the company almost completely dependent on *him*, rather than setting it up for success regardless who takes the helm next. Truly successful, large companies can coast off of their own success for a few years before the effects of bad leadership start to tank them. So if you leave and everything almost immediately goes south, is that really the fault of the head who just got took over, or the one who came before them?
it's not a bad thing that he centralized leadership -he was the person for the job. He just needs to either teach someone or find someone else - I imagine the latter. Disney is large enough that it takes care of itself for the most part - with his decentralized approach - while they figure out what's going on at the top - the bottom will still operate. The operations will keep going. Don't worry about that (not saying it to tell you what to do - I'm saying based on what I'm saying that would be something not to worry about).
At this rate we'd rather have Trump running Disney than Crooked Bob. I'm writing a book defaming the entire Iger and Chapek families.
@@stanfordite1I would rather have michael eisner back cause he seemed to understand have to run the company in a Walt sort of way understanding that taking the job meant u become the face of the company that’s why he was seen a lot more then iger had been and if made him feel personable like he understood the consumer better
@@kevin10001 Eisner's downfall was the tragic death of Frank Wells in a helicopter crash in April 1994 followed by Eisner's own bypass heart surgery. Eisner did a ton of great things and I'd take him back or someone like him as long as they have someone like Wells who can keep him contained. Eisner had a lot of great ideas and was willing to try new things even if they didn't work out. His biggest offense was putting Paul Pressler in charge of Disneyland and then all the parks with Cynthia Harriss taking over Disneyland as a female equivalent of Pressler.
@@stanfordite1 there are criticisms that can be made with eniser’s time running Disney but overall I never felt the company was in bad hands not saying he was perfect but just understood the company and how to run it cause Igor’s first time running company felt like he was dead set on eliminating Disney’s competition by either buying them up or crushing them in them at the box office with ridiculous demands to how a Disney movie play at a theater without healthy competition a company gets into the position like Disney is in cause they get complacent cause they are all we have
Classic rich guy who doesn’t think his workers have the same fundamental equality as him
Did they use the theme from succession lol
Pixar, Marvel, Lucasfilm, and fox need to be freed from Disney's woke slavery.
Agreed
Facts
Agreed
Exactly
Iger is the reason for all the problems of chapek. He just wanted a fall guy while he tested his women power movies where the characters were awful. And after they all flopped he kicked chapek to the curb.
Decisions at the level of CEO at Disney take years to manifest. Chapek is a convenient fall guy for decisions that Iger made in the late 2010's that went horrible. This is Igers doing.
succession plan gone awry at Disney sounds like a compelling and cautionary tale. It highlights the potential consequences of ego and hubris at the highest levels of corporate America, shedding light on the challenges faced during leadership transitions. Such stories serve as valuable lessons for organizations, emphasizing the importance of humility, collaboration, and strategic planning in ensuring a smooth succession process. It will be interesting to explore the details and insights shared in this story, as it can provide valuable insights for both aspiring leaders and established executives.
This is 100% written by chatgpt😂
DISNEY is in the can because these CEO are greedy AF.. Disneyland tickets are completely out of reach for most households. Keep raising prices that seems to be working..
Equal to the succession of Cesar's 😂😂
They have got to invest in ORIGINAL, QUALITY content. Iger has said himself that the good product comes from the creators. They need to let creators to make new, original stories and market them well enough. You can’t rely on the same franchises forever.
The thing is if it can be done for $17 Billion, it can be done for $17 Million and later $1.7 million. Democratization of network creators is the key. On every level.
LOL! There was an ad for the *fake* "university" of Phoenix. before the video. The University of Phoenix, Their PHD's have the largest shredding of resumes.
Iger could have been more diplomatic with his public statements, but Chapek needed to have a thicker skin and recognize that even someone as qualified as him needs support in times of unprecedented crisis. Humility is crucial for high-level decision-makers, because however important a CEO is, he needs the Board, and especially its Director to help him steer the ship. Never be so proud of yourself as to not take advice and counsel.
Man, I hope Disney is still around during my lifetime. So much nostalgia and great content. Not sure if there has been anything good since coco or encanto …. But I have faith the company will rebound
The new Disney built over the last 20 years can disappear. There will always be the classic Disney content to watch. Leave kids alone hit the mark
@@chiquita683 exactly. Let the new stuff burn and crash. The old movies will always be there - they are timeless.
@@chiquita683 This would also erase PATF, MCU Phase 1, and a lot of Pixar stuff. Are you okay with that?
Disney has gone through this cycle before in the 90s after decades of success. The issue was management gets bloated and the people that make the company money are pushed aside. After the management is cleaned up, it can run profitably again.
@@austinreed7343 MCU is exactly what Scorsese said: colorful barf. Nothing ever happens which is of consequence. They always chase one McGuffin after the other. It's just empty.
Nobody will look back at that endless flood of superhero trash and think: great cinema.
Bob got mad at Bob for being Bob.. Bob had great timing of knowing when the pandemic was about to hit.. Bob knows the future. One of the Bobs turned off my ESPN
Iger never relinquished control to Chapek so everything wrong with Disney over the last 20 years remains his fault
Preach. He set the new CEO up for failure.
Business, entrepreneurship and innovation are filled with challenges and adaptation to changing consumer behaviour and choices, policy's priorities and political environment. How to navigate those obstacles while also setting one eye on the future is what decides the fate of the company and the legacy of an entrepreneur.
This man doesn’t look like a regular 72 years old person. Perhaps he’s making as well that children’s blood transfusions
Disney needs younger blood. This won’t work.
As Elon eloquently put it, GFY Bob Iger
This is not that difficult to decipher. Disney is an IP company. ESPN Disney's film division and the cable networks which Disney owns are driven by content creation. If you stop making entertaining/innovative or otherwise enjoyable content you're going to lose money. With Disney's unimaginative re-packaging of its IPs from the nineties endless sequels prequels and spinoffs and injection of leftist politics into virtually all of its media the average American consumer no longer wants to buy whatever Disney is selling. Disney just isn't making any worthwhile NEW IPs. And when you're a media company which lacks creativity that's a major problem
Disney has no right to be an IP company and is going to be rightfully broken up and have all its acquired IPs taken away and returned to their respective founders (i.e. the families of Jim Henson and George Lucas) or become independent businesses (Marvel, ESPN, and Pixar's fate). Disney needs to learn its place in the world and will learn its place: NOTHING but an animation studio with some theme parks governed by four words: "What would Walt do?"
I see you playing that faux Succession music!
ESPN really needs a revamp. We live in a world where everything is on-demand. Sadly Disney+ is loss making which I believe is a great product. In any case, Bob Iger can turn it around some point in time.
Disney is going to be broken up and ESPN will be taken away by Uncle Sam along with Marvel, Lucasfilm, Pixar and every other acquisition.
Was/is it worth it?
So, who cancelled the kotor remake?
I got a Disney + subscription free with my ISP. I can't say it had the pop of other subscription services. Like Netflix plopping bombs (plopping bombs is good) with their "Untold" series. How many rehashed Star Wars-verse episodes can keep the average consumer paying. The best content on Disney plus + was/is Nat Geo docs. Who is paying and who is powerful? It seemed to me that Disney choose the powerful. But who is paying? Is there a better chocolate bar? Right?
in Canada, D+ has way better content because it's a mix of d+, hulu & FX.
CNBC this is top level journalism, this should be a 30 minute long mini doc.
Battle of the Bobs
He’s going to sell the company to Apple
Thanks for showing the World that igee is the worst and that allnof disneys problems are his fault not chapeks
MOST rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
Sounds good😊How do you do that? I'm interested, how do I go about getting started?
If i had not experienced this myself I would have said this is all lies but l've made withdrawals a few days ago and that's one thing I find difficult and impossible with other brokers
Long term investment is the best now. I invested $6,500 in march last year with Mrs Brenda i top up my trade with $1500 every week. Now, I'm having over $247,000 on my dashboard. Toping up your trade is really up important
Iger fell hard with the 70Bn purchase of Fox TV & the 4Bn of LucasFilm with studio head that had zero experience.
We all know why Disney is in decline
Disney's P/E is 65.5 (this is double Apple's) Eventually, this stock has to come back to Earth. I don't think there's much Iger or anyone can do. With the movies flopping left and right, their only source of revenue is the theme parks. Such a company cannot logically be valued the way everyone wants it to be valued :)
Seeking alpha says it's 22 PE
@@ImBananas4 I think on SeekingAlpha, that is the non-GAAP number. Non-GAAP can be misleading.
Why not take the vdieo and share througoutbyhe Internet?..😊
Oh no, the mouse bought every piece of old media on the planet, did everything they could to screw over their paying customers and now they can't make it all work? What a disaster!
I think I owe you an apology,time will tell.☯️🎏
Disney is making many decent series but great hits are rare now, even new Star Wars movieswere quite empty. First Mandalorian season is epic.
People are tired of Disney full stop
毎日色々な方法で人を苦しめてまで人の力は手に入りません。
Need to learn to move on....Everybody is replaceable! Iger is no exception...Stop doing a "Leno". Chapek should have been given more time and hope he will be back in another company as CEO!
Are cryptocurrency and business incompatible? I think youre not keeping up with the news. While you thought it was impossible, some enthusiasts from Cannafarm Ltd integrated cryptocurrency into the production of medical cannabis. What do you say now?
The politics is ruining disney.
Go woke go broke
get woke get broke
Disney needs to bring back Apu from the Simpsons. until then, they are cursed. F**K em.
Disney screwed up when they went WOKE.
Bob Iger was not successful before: he threw away Disney's long term sustainability and legacy for short term investor gains. All the projects he handed over to Chapek were his doing and literally everything that is happening to Disney now is a result of 2 decades of his poor, short-sighted decision making. The investors who stood by him and encouraged all this deserve everything they get: Wallstreet has no idea how to run a business anywhere except straight into the ground -- but only after they make a quick buck.
Yes, he was, though through no fault of his own; there were once many, many people trying to keep him in check. Now they are all gone, and he is unbound.
Facts
Money maker yet story breaker.
99.999 that’s it😳❤️
Disney is definitely facing karma
The next chapter of anime version
Chapek approach to content got him fired pretty obvious iger will move away from woke movies
Cnbc 😃
Sideshow Bob...
Seriously? You start the video with Alex Sherman behaving as if he is an interviewee? He is a reporter for crying out loud. Media should stop talking to each other and start talking to actual subjects of a story. The moment he sat down and pretended to be an interviewee, I turned this video off. Big dislike.
Chapel inherited a house of cards from Iger, he never had the opportunity to make bad decisions because he had to deal with Iger's horrible decisions.
It does seem like Iger has given up on his White House ambitions and is realizing people should have jobs based off merit and not who will make him look like a better Democrat presidential nominee.
But it's too little to late, Disney is already over leveraged in terms of finances and all Iger has done it increase the invoices to be paid.
I hope the man goes to jail for secerities fraud.
Disney is a good if not Great stock and company for sure, never worried about this one.
I think everyone should have Disney stock in their portfolio.
AI images
Cant wait for the Netflix docu-film: 'Kingdom of the Rat - an ESG/DEI Success Story' - we really need a way to break up Blackrock, Vanguard, Soros Fund, and State Street - they are a cancer upon western civilization.
Cute
problem is not iger or chapek , it's k kennedy who massacred every franchises ...
I dont know, dudes. I think crypto and all these ICOs are just a bubble. Well, crypto is good for transfers and so on, but I dont engage in trading and staking either. Its too risky. My friend recently lost $5000 there. I invest crypto in real business
Bob iger is a joke these days
Woke
The agenda driven story telling is not a factor of this crisis?
That's not the reason ESPN is tanking. (And ESPN tanking is their biggest problem)
@@shsd4130 Also all money lost in movies bombing in 2023. Disney+ losing subscriptions etc.
1.) The True Threat is the BUSINESS-side of Disney?! 🤬
2.) Personally you need a Leader that cares about Disney, Creatively-In-General. And needs to think about the Future 🔮 and not the Greediness?!🤑
3.) For those who are writing {WOKE} is bad comments are "Really Stupid" Woke had nothing to do with this "Again". 😤🙄😒
Woke had EVERYTHING to do with this
Atatürk
Mustafa Kemal
@@Nakkisampyla Disney plus cancelled the series about Atatürk
Marvel is a juggernaut? Ha!
Go woke go broke 😂
Wait, do you think cryptocurrency will crash? I dont think so. More and more companies are integrating cryptocurrency into their operations: Amazon, Cannafarm Ltd, Burger King, even Starbucks, dude!
Disney company is a former shell of itself. Management needs to be ejected from ceo down.
How many times can you watch Frozen and Winter Soldier, and ESPN has let feminism and the woke agenda ruin things.
Lots of reasons, but for every franchise to fall, mainly because get woke, go broke. I stopped Star Wars watching after Ep. 7, I stopped Marvel watching after Ms. Marvel (and I tried to watch), and I stopped Pixar after Onward - I love D&D, but you don't drop woke nonsense into such a movie. As for the main franchise films, again with the woke or rehashing beloved classics into cgi nightmares.
All woke crap.
Strange World
Seeing Red
New Peter Pan movie
Indiana Jones
Hocus Pocus 2
Lightyear
Ms Marvel
It is funny: the analyst says properties under Disney like Star Wars or Marvel are losing but is afraid to say why. Very probably because at college he has being indoctrinated into a poisonous ideology of false kindness. After TLJ I stopped any interest in Disney Star Wars.
I stopped my Disney subscription because as a white straight male, their productions clearly are not made for me. Plus they cancelled Johny Depp before he was even judged...
Pixar keeps delivering good content, but Disney doesn't make any creative effort, buying franchise and spinning off endoctrinated versions of the same stories.
Luca and Elemental are Pixar's Good Movies.
@@slytherinmember1009 elemental is woke
thats what happens when you base hiring off of woke credentials instead of talent
They totally omit this woke culture problem in their report. According to them, that is not an issue.
define woke
@@drakehooks Strictly complying and aggressively promoting the extreme left value set without any tolerance of any slight deviation from them.
@@drakehooksWoke is when a guy goes behind another guy back and both smile on the camera 📷. Brokeback Mountain
@as-cf7rx Ask ChatGPT
I blame Ron DeSantis
Did DeSantis tell Iger to pay $4 billion for star wars?
I realize you are ignorant and want to simp for the corporate town that used municipal bonds to pay for private theme park infrastructure. But I get was making horrible decisions long before DeSantis and Iger is continuing to do so as he currently has a lawsuit with Hollywood investors and the key evidence against Disney is Iger's own poorly chosen words during investors calls.
ALL EXCUSES FROM BOTH BOBS TO AVOID ADDRESSING THAT WOKE DISNEY AND DISNEY+ ARE PURE CRAP CONTENT.
You destroy all your brands with woke garbage and insult all your fans over and over. Not a surprise that Disney is in the toilet.
Disney's woke approach is going to destory it.
Go woke go broke is all i could think off while watching this
Lord Jesus Christ loves you. You are not alone, jesus Christ is with you. Get ready for the second coming of Jesus Christ.
There is no god ans jesus was a con artist
I have great faith that iger is going to be a show stopper. His age, desires for his life, and the blowout of the company are going to take a toll on him. However, he supersedes it all - I bet he can pull it off.
This company became to woke for most of the people and their productions in the last 3 years were really lame: E.g. Pinocchio, The Little Mermaid, etc.
Go WOKE, go BROKE.
*Get
98% sure🙂🦦🎏☯️💖
All woke crap. Loving these Disney Failures!!! 🙌👍🙏
Strange World
Seeing Red
New Peter Pan movie
Indiana Jones
Hocus Pocus 2
New Little Mermaid
Lightyear
Ms Marvel
New Snow a white
also include cancellation of the owl house
Was it a bet?Murdoch’s grandfather and someone else’s??😳☯️🦦
Go woke go broke