Breaking Disney news is that CEO Bob Chapek has been fired by Disney and former CEO Bob Iger has returned.
Long-time Disney fans have been asking for the ouster of Chapek for several years now and solely blame him for the beginning of the downfall of the Disney Theme Parks.
The termination of Chapek does come as a shock though seeing as though Disney recently extended his contract as the Grand Poobah of the House of Mouse. Although with falling stock prices and stagnant subscription rates with online services such as ESPN+ and Disney+ a change was needed.
The news broke late last night (November 20, 2022) when old/new CEO Bob Iger sent the following email to all Disney Employees
Dear Fellow Employees and Cast Members,
It is with an incredible sense of gratitude and humility -and, I must admit, a bit of amazement -that I write to you this evening with the news that I am returning to The Walt Disney Company as Chief Executive Officer.
When I look at the creative success of our teams across our Studios, Disney General Entertainment, ESPN and International, the rapid growth of our streaming services, the phenomenal reimagining and rebound of our Parks, the continued great work of ABC News, and so many other achievements across our businesses, I am in awe of your accomplishments and I am excited to embark with you on many new endeavors.
I know this company has asked so much of you during the past three years, and these times certainly remain quite challenging, but as you have heard me say before, I am an optimist, and if I learned one thing from my years at Disney, it is that even in the face of uncertainty -perhaps especially in the face of uncertainty -our employees and Cast Members achieve the impossible.
You will be hearing more from me and your leaders tomorrow and in the weeks ahead. In the meantime, allow me to express my deep gratitude for all that you do. Disney holds a special place in the hearts of people around the globe thanks to you, and your dedication to this company and its mission to bring joy to people through great storytelling is an inspiration to me every single day.
Bob Iger