New Report Indicates Bob Iger Expressed Regret Over Appointing Bob Chapek as Disney CEO

By now, it is no secret that Disney fans have been skeptical over Bob Chapek’s time as CEO of the Walt Disney Company. While much of Chapek’s latest executive role has been marked by an obviously difficult global pandemic, there have been issues within Disney theme parks and within the political sphere especially in the state of Florida, where many fans agree he has done more harm than good.

Chapek’s move into the CEO position took place at a rocky time as former CEO Bob Iger was preparing to announce his retirement and the entire world was on the verge of dealing with the onset of the COVID-19 pandemic. In the past, Iger has at least someone defended Chapek when asked directly about how the Walt Disney Company was being managed after his retirement, however, a new report indicates that the former CEO may have some additional thoughts.

Related Post: Bob Chapek’s Contract Renewal Includes $20 Million Bonus

When Iger appointed Chapek to the CEO position in the beginning of 2020, the former “Bob” stepped into the Chairman of the Board position. In this role, Iger was onhand to ensure a smooth transition and help with other matters within the Walt Disney Company before his retirement at the end of 2021.

According to a report by Business Insider, Bob Chapek’s appointment to CEO of the Walt Disney Company was largely the result of Iger’s first choices leaving the company before he had the chance to offer them the role. Among initial considerations for CEO, Iger had pre-selected Jay Rasulo, Disneys’ former Chief Financial Officer, and Tom Staggs, former COO and CFO of the company.

Iger was also reportedly advised by the Board of Directors to move Chapek into the COO position before appointing him to CEO so the two would have time to work together on a strategy for the Walt Disney Company following Iger’s retirement.

As we now know, Bob Chapek was announced as the new CEO of the Walt Disney Company in February 2020, which kicked off a difficult first couple of years in the company’s leading position. Nearly one month into Chapek’s time as CEO, all of Disney’s domestic and international theme parks were forced to shut down due to the COVID-19 crisis.

While the domestic Parks were able to reopen and remain so, multiple international Parks experienced additional closures, and Disney’s film and streaming departments continued to be affected by theater closures and changing preferences toward streaming movies into this year.

On top of all of this, Walt Disney World had its 50th anniversary celebration kick off in October 2021, while many experiences remained unavailable due to the pandemic, and Chapek has had a challenging time to say the least navigating Florida’s political landscape under the DeSantis administration.

According to Business Insider, Iger reportedly looked at the ways that Chapek has dealt with these situations and referred to him as a “novice,” even going so far as to say that appointing him as CEO was one of his worst business decisions.

For more on Iger’s career with Disney you may want to read this post, or pick up his 2019 book, The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company.