Bob Chapek has served as the head of Disney for almost two and a half years. Despite the ups and downs of his term, he was able to achieve certain successes. During the Covid-19 epidemic, he ensured that Disney’s subscription base remained maintained and grew in size. In addition to this, Chapek did not accept an activist investor’s bids during the epidemic. People continue to wonder why Bob Chapek is controversial.
Recently, Disney made a shocking revelation that left everyone rather perplexed. Former CEO Bob Iger would return to the platform as the company’s new leader. This implies that Bob Chapek, the current chairman of Disney Parks, Experiences, and Products, will immediately step down.
Why would Disney make such a drastic alteration? Exists a significant underlying motive for this decision? Were the supporters kept in the dark about Bob Chapek’s wrongdoings? Stay tuned till the conclusion of the story to discover.
Bob Chapek Controversial- Why
Bob Chapek is regarded as controversial due to the dubious nature of his judgments. His demise began with his answer to the “Don’t mention homosexual bill.” Critics had targeted him and called the company’s reputation into doubt.
The audience-appreciated company Disney has been accused of not having a public opinion on the measure. The Florida “Don’t mention gay” bill restricts teachers from addressing gender identity and sexual orientation in the classroom. This had increased people’s anger, and the resulting results were harmful to both the channel and Chapek.
About The Bill
Bob Chapek had first issued an email to the staff but declined to make a public remark on the measure. He thought that making public declarations were unnecessary. This became a major cause of public distress. Fans thought that Chapek was insufficient to replace the former CEO.
The former CEO was admired for openly expressing his opinions and positions on such issues. The effects of this quiet were felt by both the general public and Disney workers. The staff indicated that Bob was unable to comprehend the gravity of the issue and the harm the proposed bill posed to the LGBTQ community.
Bob Chapek Apologises
Chapek has made every effort to exclude Disney from political issues. He did not wish to compromise the company’s image. Unfortunately, this failed when Chapek openly criticized the bill on Twitter and Disney uploaded images of the same on its official Twitter account.
This resulted in massive conflicts between Walt Disney and Ron Desantis, the state’s Republican governor. The corporation’s reputation was severely damaged by Desantis’ comments that Disney was attempting to be a “woke company” despite having dubious motives in collaborating with China for a private event.
Participation of Disney in the Bob Chapek Controversy
Before this problem being public, Chapek explained to the shareholders how he had personally spoken about his worries and unhappiness to Desantis. Chapek had decided to stop contributing to Florida in order to support his employees.
Disney had previously contributed $50,000 to the reelection of Desantis. Additionally, Disney is a key contributor to Florida’s enormous tourism sector.
Bob Iger or Bob Chapek
Several Disney employees asked Iger to comment on this bill and Chapek’s faults as CEO. Disney announced in June a three-year deal extension through 2025. Unfortunately, as the American economy began to decline, Disney faced a steep decline.
He had established a hiring freeze and taken steps to eliminate positions. Streaming success was insufficient to save Chapek’s position. The fourth-quarter loss for Disney was $1.5 billion.
Investors not only welcomed Bob Iger’s return to Disney but they were also pleased with the choice. Following a 38% decline this year, Disney’s stock price increased by almost 7%. Perhaps Bob Iger’s return to Disney is a smart move for the platform.