News Round Up 2020

[Iowamomof4]

NOOOOOOOO!!!!

 

[Brianstl]

https://thewaltdisneycompany.com/app/uploads/2020/02/leadership-announcement-022520.pdf

 

[SaintsManiac]

Oh my

 

[Farro]

So someone break down for me in real terms - why is this worse than what we have now?

 

[TheMaxRebo]

The board of directors has to love what Chapek has done with the operating income numbers for his division. If you are just looking at the numbers Chapek was the obvious choice.

The easy choice I guess ... But delivering numbers from one division that has long been a cash cow isn't the same as being able to lead the entire company

 

[The Pho]

Investor call starting soon

https://thewaltdisneycompany.com/investor-conference-call/

 

[Mattimation]

Whoa, that's a surprise! I know Iger had said in the past he was looking to step down, but I thought a big part of the Fox merger was contingent on him remaining CEO for several years - it hasn't even been one.

 

[TheMaxRebo]

So someone break down for me in real terms - why is this worse than what we have now?

Chapek comes from consumer products and trying to monetize everything vs a creative person who will push things and then let the "numbers people" handle the finances ... Just feeling that a lot of cutting corners vs setting the bar has been driven by his decisions

For example, he pushed back and cut a lot of the live entertainment that was supposed to be in Galaxy's Edge as he doesn't want to pay actors - stuff like that

 

[Brianstl]

The easy choice I guess ... But delivering numbers from one division that has long been a cash cow isn't the same as being able to lead the entire company

Agreed.

 

[SG131]

Wow! I'm shocked. Pete says all the big stories come while he is away......

 

[Future_WorldPhonencian]

Anyone have a sense that this is due to stocks getting crushed last 2 days? Again this is the likely the start of a global recession, but obviously the 2 chinese parks being closed doesn't help things.

 

[Brett Wyman]

So someone break down for me in real terms - why is this worse than what we have now?

Photopass boxes.

 

[Brianstl]

Anyone have a sense that this is due to stocks getting crushed last 2 days? Again this is the likely the start of a global recession, but obviously the 2 chinese parks being closed doesn't help things.

This has nothing to do with the stock getting hit the last couple of days. Iger had no control over Coronavirus.

 

[jamos14]

Apparently Chapek was the man behind the "tiered" system of park hours which allow guests to monetize after hours and early hours. Also his decisions to cut significant entertainment through the parks including all the planned entertainment in Galaxy's Edge. He has always been about profit, profit, profit. No creativity in his background.

 

[MommaBerd]

I really thought Kevin Mayer (Meyer?) might have gotten the job

 

[TheMaxRebo]

Wow! I'm shocked. Pete says all the big stories come while he is away......

I expect him to remote in a rant anyway

 

[TheMaxRebo]

Anyone have a sense that this is due to stocks getting crushed last 2 days? Again this is the likely the start of a global recession, but obviously the 2 chinese parks being closed doesn't help things.

My first thought was Iger wanting to get out now and let Chapek be the fall guy, but then why would Iger stay on as chairman?

 

[rteetz]

Lets move discussion here...

Bob Iger Steps Down as CEO, Chapek to Succeed Iger as CEO

 

[Brianstl]

Anyone have a sense that this is due to stocks getting crushed last 2 days? Again this is the likely the start of a global recession, but obviously the 2 chinese parks being closed doesn't help things.

If anything, the coronavirus impact would be a reason to not announce a change of CEO. It would ensure investors that the guy who has guided great growth over past 20 years would see Disney through this. Something happened in the last couple of days that forced this decision to be announced now. Either Iger is sick or there is some big issues somewhere outside of Disney Parks, Experiences and Products that we don't know about at this time.

 

[rteetz]

News

https://disneyparks.disney.go.com/b...s-may-26/?CMP=SOC-DPFY20Q2wo0220200226200008F