Three Years Ago Bob Iger Stepped Down For Bob Chapek- Here’s What They Said
Three years ago years ago, Bob Iger officially stepped down as the CEO of the Walt Disney Company. Knowing all that we know know, this was a bad day for Disney, but at the time everyone sounded hopeful about the future reign of Bob Chapek. Here is what all the key players said about the new CEO in 2020.
Bob Iger Lauds Chapek’s Work History
At the time Bob Iger lauded Chapek’s long history at the company.
“Bob will be the seventh CEO in Disney’s nearly 100-year history, and he has proven himself exceptionally qualified to lead the Company into its next century. Throughout his career, Bob has led with integrity and conviction, always respecting Disney’s rich legacy while at the same time taking smart, innovative risks for the future. His success over the past 27 years reflects his visionary leadership and the strong business growth and stellar results he has consistently achieved in his roles at Parks, Consumer Products and the Studio. Under Bob’s leadership as CEO, our portfolio of great businesses and our amazing and talented people will continue to serve the Company and its shareholders well for years to come.”
While Bob Chapek may have been appointed to the CEO role as a result of his business acumen, he failed to deliver results during his tenure.
One of the major complaints about Chapek during his term as CEO was that he put creativity in the back seat to profitability.
Bob Chapek’s Opening Statement
When he assumed the role however, Chapek highlighted the importance of creativity.
“I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees,” Mr. Chapek said. “Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team. I share his commitment to creative excellence, technological innovation and international expansion, and I will continue to embrace these same strategic pillars going forward. Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation and thoughtful risk-taking.”
Adulation For Bob Iger
Upon his departure, Disney Board Chairwoman Susan Arnold noted that Bob Iger had led the company to new highs. Something the board would call on Iger to do again, less than three years later.
“Over the past 15 years as CEO, Mr. Iger has transformed The Walt Disney Company, building on the Company’s history of great storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and Twenty-First Century Fox and increasing the Company’s market capitalization fivefold. Disney has reached unparalleled financial and creative heights thanks to Mr. Iger’s strong leadership and clear strategic vision. We believe Mr. Chapek’s leadership and commitment to this strategy will ensure that the Company continues to create significant value for our shareholders in the years ahead.”
To be fair to Bob Chapek the world changed dramatically during his almost three years as CEO. From the shifting media landscape to the global COVID-19 pandemic, Chapek faced challenges that no one would have imagined in 2020.
Nevertheless, his tenure as CEO will be remembered as largely a failure, and the hope and optimism opined in 2020, reads like wishful thinking in retrospect.
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