Walt Disney’s announcement that Bob Chapek would be stepping down as CEO and the retired Bob Iger was replacing him effective immediately has stunned the industry, with Hollywood taking the news with a mix of shock, confusion and (in most cases) approval.
Sources from rival studios noted that Chapek was removed at a suspicious time and that Iger was more surprised by the news. “There is a real question of what is expected of (Iger),” they said, asking for anonymity, adding that it is generally expected that he would undo most of Chapek’s structural choices.
Multiple industry sources expressed shock at Iger’s return because the former (and now present) CEO so often declared that he and his wife Willow Bay were enjoying retirement. Moreover, this transition occurred just before Thanksgiving week and days before the theatrical release of Walt Disney Animation’s “Strange World” and weeks before the likely-to-be-massive theatrical release of James Cameron’s “Avatar: The Way of Water.”
Industry professionals and others reacted similarly to Iger’s return to the job he had for 15 years, before he vacated it in early 2020. Surprise was the most obvious reaction.
Zack Stentz (autor) “X-Men: First Class” “Thor”Iger was also mentioned in other films and TV projects. FormerEven the CEO was made aware of this news.
At least one person from the industry only heard about the transition after the media reached out for comment. In the meantime, Josh Gad, star in “Frozen” “Beauty and the Beast,”Reacting with immense joy, they declared “the GOAT is back!!!”
Adam Aron, AMC’s CEO, made a public comment on Twitter. He noted that Disney was the studio with the highest box office grossing and that Iger was returning to Disney as its chief executive. He stated the following “absolute highest respect for Bob Iger.”
Matt Braly, creator of Disney’s “Amphibia,”Chapek had reportedly expressed relief that Disney was no longer run by him. The policy of sending Pixar originals to Disney+ instead of a traditional theatrical release was at best controversial.
These reactions were a good summary of the general sentiment. Iger was generally viewed as a beloved ex-boss who was returning the ship to its rightful place after his heir had messed it up. Whether Iger’s new reign will be markedly different from Chapek’s COVID-era leadership, the mood is upbeat for those who consider themselves fans of Disney movies, Disney parks and the general Disney brand.