Commissar SFLUFAN Posted September 6, 2023 Share Posted September 6, 2023 I can't help but shake the feeling that Chapek turned out to be the fall guy for a mess of Iger's own creation. Disney's wildest ride: Iger, Chapek and the making of an epic succession mess WWW.CNBC.COM Here's the inside story of the executive chaos at Disney over the past few years — and how it could shape the fate of the iconic entertainment company. Quote After pushing back his retirement four times, Bob Iger finally made the leap. On Feb. 25, 2020, he announced he would step down as Disney’s CEO. His hand-picked successor, Bob Chapek, then Disney’s parks chairman, would take over the day-to-day job of running the company, effective immediately. As part of the changing of the guard, the Disney board suggested the new CEO should take over Iger’s expansive office at Disney headquarters in Burbank, California. There was just one problem. Iger had no interest in moving out. He wasn’t truly leaving Disney, anyway. His succession plan allowed him to stay on as executive chairman for 22 months. Chapek would report to him and the board. Iger would also “direct the company’s creative endeavors” — nebulous phrasing suggesting he would retain control of movie and TV content and operations. There was a practical reason Iger didn’t want to move out of his office. It had a private shower, built for former CEO Michael Eisner, and a vanity for shaving. Iger, now 72, consistently woke up around 4:15 a.m. to work out and then shower. On evenings when Iger was heading out for a Disney premiere, award show or benefit, he would often take a second shower — this time in the office. Iger told Chapek that he lived for those “two-shower days,” according to people familiar with the conversation. Quote Both men agreed Chapek wouldn’t have much need for the office shower; Chapek would instead move into a smaller office on the same floor. Quote On the wall of Iger’s office bathroom hung two posters. The first was a framed collage of newspaper front pages and magazine covers with images of Iger celebrating Disney’s purchase of Marvel in 2009. The $4 billion deal was arguably Iger’s shrewdest decision as CEO and one of the best media and entertainment acquisitions in U.S. corporate history. The second picture spoofed the movie poster for the 1975 Clint Eastwood thriller “The Eiger Sanction,” but the image was of Iger instead of Eastwood, with the title “The Iger Sanction.” “The Eiger Sanction” is about an assassin who comes out of retirement for one last job. Jesus Christ Almighty. Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted September 6, 2023 Share Posted September 6, 2023 Heh I was just coming to post this. Can you imagine this? I can see it now: Cards to tap into attractions being replaced by the need for your iPhone with some other form of NFC in some extra dongle you have to buy separately at outrageous cost. Releases going back to some other format instead of a 4k blu ray. Probably HD-DVD. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 7, 2023 Author Share Posted September 7, 2023 The shockingly ham-fisted mishandling of the entire Scarlett Johansson debacle is breathtakingly HILARIOUS: Quote There was one hitch: Johansson’s contract stipulated that her compensation was based on an exclusive theatrical release for up to four months. Since her contract was negotiated before Covid, this type of issue hadn’t arisen before. Her agent, CAA partner Bryan Lourd, spent months negotiating with Disney executives throughout the organization, warning Bergman and Chapek that Johansson would sue for remuneration if they proceeded with their plan, according to people familiar with the discussions. Chapek viewed Johansson’s contract as a creative issue and therefore Iger’s territory. Iger had a long relationship with Lourd and knew Johansson. This was his arena. Iger, however, wasn’t involved in any of the conversations with Lourd, who thought Iger would have quickly resolved the situation given the value he historically placed on creative relationships, according to people familiar with the matter. Lourd declined to comment. If Chapek wanted to be CEO, he should be CEO, Iger reasoned. To Iger, this was a clear business matter — a contract dispute — and not a “creative endeavor,” according to people familiar with his thinking. By this time, Chapek and Iger were barely speaking to each other. Quote In July, after multiple warnings from Lourd, Johansson sued. Disney’s lawyers walked through the company’s options in a virtual meeting attended by about 20 executives, including Iger and Chapek. Iger didn’t speak, but he felt the meeting was “amateur hour” — a meeting “run by children” — with far too many people weighing in on how the company should respond, according to a person familiar with his thoughts. Iger and Chapek both signed off on an aggressive public statement that accused Johansson of “a callous disregard for the horrific and prolonged global effects of the Covid-19 pandemic” and revealed her $20 million salary for the film. The clear implication was that she was only seeking more money out of greed. Mucha argued Disney needed to have a forceful response because the lawsuit specifically named Iger and Chapek as financial beneficiaries from a stronger Disney+. Yet, both Iger and Chapek disagreed with the tone of the statement, according to people familiar with the matter. Neither one stopped its release because each believed the other should be in charge. Quote Iger called Chapek and told him he should issue a public apology, according to people familiar with the call. Chapek refused, said the people. Iger never even considered apologizing, according to people familiar with his thinking. Hollywood talent and agents largely blamed Chapek for the statement. Chapek suspected Mucha was pushing this narrative to the press. To defend himself, Chapek solicited other members of the communications team to help him call reporters, without informing Mucha. Disney settled the lawsuit in October 2021. OLOLOLOLOLOLOLOLO. This is goddamned AMAZING. OLOLOLOLOLOLOLOLO. 4 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 7, 2023 Author Share Posted September 7, 2023 Quote Chapek attended only a few minutes of the first strategy session. He spent most of his time at the retreat participating in activities that would showcase his personable side to employees. By this time, Chapek had grown a beard, which colleagues told him he should keep because it “humanized” him. When several of the executives locked in the conference room found out Chapek was having fun, including petting a hippopotamus, their collective frustration with him grew, according to people familiar with the matter. "Petting a hippopotamus" definitely sounds like it could be used as euphemism Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 7, 2023 Author Share Posted September 7, 2023 4 hours ago, GeneticBlueprint said: Heh I was just coming to post this. Can you imagine this? I can see it now: Cards to tap into attractions being replaced by the need for your iPhone with some other form of NFC in some extra dongle you have to buy separately at outrageous cost. Releases going back to some other format instead of a 4k blu ray. Probably HD-DVD. Few things in the business world compel me to roll my eyes harder than hearing/reading the phrase "Apple is going to buy Disney". Apple buying Disney would be a storybook ending for Iger, but fairy tales aren't real WWW.CNBC.COM Disney CEO Bob Iger may want to eventually sell Disney to Apple, but it's unclear if Apple wants to buy Disney. Quote About 10 years ago, I invented a rule about covering mergers and acquisitions that still hasn’t failed me. Here it is: Will Apple buy [insert company of your choice here]? --> No. Apple almost never buys name-brand companies. Its largest takeover was 2014′s $3 billion deal for Beats Electronics. Apple is strict about its culture and its focus. While Microsoft has acquired its way to increased scale — buying Activision Blizzard for $69 billion, LinkedIn for $26 billion, Nuance Communications for $20 billion, and five other companies for more than $5 billion — M&A isn’t in Apple’s DNA. Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted September 7, 2023 Share Posted September 7, 2023 Whenever I hear that an executive's day starts at 4:15 am babbled out like it's some badge of honor, all I can think about is how absolutely shit they must be at delegating. There's so much performative work done at this level. And I would argue that SOME C suite work SHOULD be performative, especially for a company like Disney! But Jesus Christ with some of these people, I swear to god. Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted September 7, 2023 Share Posted September 7, 2023 1 hour ago, Commissar SFLUFAN said: Few things in the business world compel me to roll my eyes harder than hearing/reading the phrase "Apple is going to buy Disney". Apple buying Disney would be a storybook ending for Iger, but fairy tales aren't real WWW.CNBC.COM Disney CEO Bob Iger may want to eventually sell Disney to Apple, but it's unclear if Apple wants to buy Disney. Oh I don’t believe it will happen either. I just enjoy fantasizing all the ways they’d make it a terrible experience like most of their hardware and format decisions. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.