Why Disney Fired CEO Bob Chapek
All eyes have been on Disney today as the recent shocking firing of CEO Bob Chapek has taken the entertainment world by storm. And of course,
the announcement that coming out of retirement, bob Iger would be overseeing Disney once again means that Disney really did not like what Shape Beck was doing while thanks to a brand new report over on The Hollywood Reporter, we have more details on why exactly he was given the boot.
So according to The Hollywood Reporter, Disney has been in discussions for the better part of several months in regards to what they do with Shape, and do they in fact, want to force him out and replace him immediately?
According to The Hollywood Reporter, the decision was made just under a week ago, and it was only on a need-to-know basis.
Not even people at some of the highest levels of executive positions and running their own studios were told about this, meaning that people more than likely, like Kathleen Kennedy who runs Star Wars
and Kevin Feige, who runs Marvel Studios, even though they were not informed this is how high up this decision was made. And essentially what’s happening is, due to the analysis of what happened with the last earnings call that happened in early November,
it was pretty much all eyes on him because profits were down. Again, that was to be expected. But it’s not just that. It’s that he himself was touching upon cost-cutting measures during the call and saying
that there would also be more cost-cutting measures,
- First Look at MCU MODOK Revealed
- Chris Hemsworth says Next Thor film will be his Last
- Wesley Snipes says character doesn’t need to be R-rated to work
- Breaking Marvel’s Blade Finds New Writer And Director
including hiring freezes and major layoffs and setbacks and cutbacks to multiple divisions. And if you guys go look at the history and what happened with the stocks after the last Disney investors call where he said more cutbacks and all that and
less money spent on this and less money spent on that, and major setbacks to theme parks and everything like that, the stock dropped 13%. And then when they questioned him in interviews after it,
he doubled, tripled, and quadrupled down on this, saying that profits would be made by having cost-cutting measures implemented into the company.
Which, again, doesn’t make sense. Because the way Disney has operated the last 15 plus years of profit over profit every year was the fact that they invested more money and more into development and new content and buying up new IPS and making sure that the theme park rides aren’t breaking down and that they’re producing more toys and things than ever before.
So why would you try to make profit by making less of what’s made you money? Like, you guys get what I’m saying, right? So essentially, the decision was made because he was making all the dumb calls,
which, if you guys go back to the podcast we did when he was hired, this is exactly what all three of us on the show said would be happening. This guy was brought in and the board chose him because he was known to do things on the cheap and get things done quickly by implementing cost-cutting measures and sacrificing quality.
So they literally put him into this position knowing what he was going to do. And then when he did it, they got mad at him. And we even heard that. Bob Iger wasn’t even a fan of him in the first goal around. And when they told him he would be taken over, Iger was like, he’s not the man for the job. But they still did it.
This is exactly why some of these people in these decision-making positions are completely lost to what exactly is going on. Because Jack, literally everybody could have just looked at anything.
Anything that they knew about him that was reported could have gone, oh, this is going to backfire for you in the next couple of years. And sure enough, here it was. And here it is.
This dude really thought introducing a $5,000 drink in the Star Wars land was going to sell. Really? Who is stupid enough to good God, man? Shapes is literally the Vince Russo of booking Disney good. Oh, my God. Wow.