This brings a whole new level to the business term "Mickey Mouse Operation."
Yeah, so Bob Chapek replaced Bob Iger, his former boss, in 2020. The company stock is doing so poorly right now that Disney's board decided to can him and bring back Iger.
From CNBC:
Disney, in a shocking late Sunday announcement, said it had reappointed Iger as chief executive, effective immediately, after Iger's hand-picked successor as CEO, Bob Chapek, came under fire for his management of the entertainment giant.
...
The dramatic upheaval comes 11 months after Iger left Disney, and days after Chapek said he planned to cut costs at the company, which had been burdened by swelling costs at its streaming service, Disney+. Earlier this month, the company's earnings vastly underperformed Wall Street's expectations. Even its theme park business, which reported a surge in revenue, delivered less than what analysts had projected.
Disney's stock in premarket trading were up 8% Monday morning at the news.
You've seen how woke Disney has gotten over the years, but it's been really bad the last few. A lot of that lies squarely on Chapek's shoulders as he strove to push transgender ideology, modern gender theory and LGBT "allyship," and critical race theory in Disney's programs and services.
Tens of millions of parents are suspicious of all things Disney now. They no longer have a desire to take their kids to a Disney park, they skip out on feature films, and they buy far fewer Disney toys and merchandise.
Why?
Because they don't want their kids to be brainwashed into a cult.
When you add the current economic recession into the mix, you get disaster for an entertainment company that depends on family trust and discretionary income!
Let Chris Rufo explain why this is a huge win for the anti-woke movement and leaders like Florida Gov. Ron DeSantis:
I have my doubts. Iger oversaw the debacle of things like the Disney Star Wars movies, pushing them to market without any plan and cutting creator George Lucas out of the mix. He oversaw the injection of wokeness into the Marvel franchise. He was the one who greenlit a lot of the LGBT policies and "representation" in shows and films.
Iger is going to remain onboard for two years to pick a replacement.
Whoever that is will undoubtedly by more woke than either Iger or Chapek.
