Disney 'fired woke CEO Bob Chapek after colleagues including CFO complained he was unfit for the job: Axed boss was "blindsided" by dismissal and shock return of his predecessor Bob Iger'

Daily Mail UK ^ | November 21, 2022 | Alex Hammer

[Morgana]

Disney fired its CEO Bob Chapek after receiving several internal complaints from senior staffers that the exec was running the company into the ground, people familiar with the matter have revealed.

Among those to air such concerns was Disney's Chief Financial Officer Christine McCarty, who the insiders said was among many to find Chapek, 62, unfit for the role, CNBC reported.

The company's board of directors acted almost immediately after receiving the complaints, reaching out to his predecessor and former mentor Bob Iger, 71, Friday to come out of retirement and replace a man he less than a year ago touted as his successor.

The shakeup reportedly left Chapek 'blindsided,' the sources said, bringing his 11-month tenure as head exec to a premature close after a series of errors and woke controversies cratered the firm's share price.

Brass from the company announced the change in a statement Sunday night, but did not provide a specific reason for Chapek's dismissal.

The revelation regarding senior leadership's dissatisfaction with the short-lived CEO coincides with previous reports of staffers alleging Chapek had mishandled the company since assuming the position in February.

Since then, Disney share prices have fallen drastically, by roughly 40 percent so far this year - losses further compounded by a more than $10billion deficit incurred during the pandemic. Disney shares rocketed by six per cent by the closing bell Monday, as investor hopes grew that the return of Iger would signal a more stable period for the scandalized corporation.

The company's poor performance under Chapek has been blamed on factors ranging from an unsuccessful pivot to the streaming sphere with Disney+, and his hesitance to speak out against a Florida bill that banned LGBTQ discussions for students younger than 10.

[Albion Wilde]

The fact that he felt “blindsided” clearly demonstrates that he was unfit for the job. The top spot is not a lifetime appointment; many don’t last more than a few years, Most corporate execs are well aware that their performance is tied to the stock price. A dip of as little as a quarter of a point can be cause for dumping the CEO.

[Albion Wilde]

You should be teaching an MBA class with that summary at post 5!

[MoochPooch]

Half of USA is woke and right there that is 150 million Americans already.

You're overlooking the nature of the beast.

Those 150 million Americans have no loyalty. They don't give a damn about Disney or other "legacy" institutions. They were never the ones attending Disney parks or films -- or rather, they were in the minority.

My guess: Iger might try to make Disney even more woke in the hopes of attracting hipster types. But they've probably moved on to the latest fad elsewhere.

In addition, liberals have lower birthrates. No children, or few children, or sterilization. They can never sustain any society.

[MinorityRepublican]

In addition, liberals have lower birthrates. No children, or few children, or sterilization. They can never sustain any society.

True. That's why Disney hosts "Gay Days" in June every year. But that's only one month.