The potential return of maestro Bob Iger, whose celebrated 15-year CEO tenure included the acquisitions of Pixar, Marvel Entertainment and Lucasfilm, may be a useful short-term fix, but in theory he’ll only stick around for two years. Iger’s eventual successor will need to escape “Bob I”’s shadow and make some unpopular decisions. It’s a daunting task.
Walt Disney Co. stung me for several hundred dollars at the weekend when I took my five year-old to see the Lion King in Hamburg. But, like millions of other delighted customers, I didn’t begrudge forking out for a rousing rendition of the Circle of Life. Selling optimism and wonder in a world of division and uncertainty is potentially a brilliant business model. So why is Disney such a nervous wreck?
Bob Chapek was ousted on Sunday as chief executive officer after barely two years. The storied media and entertainment giant has bounced back from the pandemic but “Bob C” failed to soothe the concerns of investors, restless studio bosses, and politicians who accused the company of becoming “too woke.”
