Is there a change brewing at Disney Headquarters? Rumors are swirling that recently retired Disney CEO Bob Iger may be returning to gain control of the company that seems to be swirling out of control.
Current CEO Bob Chapek has endured some catastrophic failures while in the driver’s seat of the House the Mouse Built, and, not all of the failures have been Chapek’s fault, Disney stock has dropped almost 20% in the past year, the investment and what seems to be the imminent failure of the Galactic Starcruiser Hotel and Genie+ with pay-per-ride has caused a lack of confidence in him. Things have gotten so bad for Chapek that Disney has started a PR campaign to boost his image. The straw that seemed to break the camel’s back is when Chapek decided to miss D23 this year. For those that do not know, D23 is the largest convention for die-hard Disney fans. The event is held each year with information about upcoming projects, releases and news of everything Disney. It was found out that Chapek did not attend D23 in Florida because he had a dinner party scheduled in California that evening.
Now the reports of Bob Iger returning and taking over from Bob Chapek are just rumors and were reported in this article on cnbc.com.
Whether Chapek stays or Iger makes a return, something needs to be done. The Disney Company is currently in a tailspin and if they wait much longer, they may not be able to pull out of it.