
Bob Iger to step down as Disney CEO, effective immediately - minimaxir
https://www.cnbc.com/2020/02/25/disney-names-bob-chapek-next-ceo.html
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WheelsAtLarge
It's strange that it's happening so fast. This feels to me like he got himself
in trouble doing something the Board did not like and forced him out. I
suspect there are a lot of reporters wondering what happened. We'll be reading
more about this in the coming months.

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eigenvalue
It could be that he is worried about the stock market implications of
Coronavirus and wants to "lock in" the incredible stock price appreciation
that took place during his tenure as CEO. That is often how a CEO's
performance is summarized after the fact, and "presided over a tripling of
Disney's stock price" sounds better than "a 2.2x" or whatever. In any case,
his desire to step down has been widely telegraphed in the press and directly
to investors in presentations. He was supposed to retire a few years ago but
kept being asked to stay by the board. Now that the Fox deal is done and
Disney+ launched successfully, it's as good a time as any to retire.

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mroche
Just watched the CNBC interview (~10 minutes) with the Bobs. Although sooner
than expected, BI seems to just want to focus on the creative disciplines at
Disney and not deal with all of the day to day ops from all of the businesses.
BC plans on following the course Iger set Disney on with their current assets
and work from there. Iger will still be leaving at the end of 2021. According
to them, none of the recent Disney news/performances have had any impact on
the timing of this decision.

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Aco-
This happened surprisingly fast. Replacing Iger with Chapek, unfortunately
makes perfect sense, and has been whispered about for a couple of years now.

Nearly every decision Chapek has made in his past leadership roles at Disney
has made them significantly more profitable. At the same time, nearly every
decision he's made has made the customer experience for their end users worse.
It should be interesting to see how this plays out.

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onetimemanytime
effective immediately...to me means that in the coming days we will hear of
something.

