Disney has struggled to find and maintain a solid CEO, resulting in a complicated succession process that has lasted more than a decade. In November 2022, Robert A. Iger returned to the position of CEO of Walt Disney Company after previously retiring from the same company.
During his tenure, Disney focused on its corporate values and code of conduct, placing Iger back in the CEO role. However, two years earlier, in 2020, Bob Chapek was appointed CEO on Iger's recommendation. Chapek held the position for only 33 months before being unexpectedly replaced in November 2022 by Iger.
James Gorman, former CEO of Morgan Stanley, was appointed as the chairman of Disney's board in an attempt to resolve the company's succession issues. Gorman is expected to find a new CEO by early 2026 and successfully carry out a transition.
Chapek's dismissal came after poor economic results and poor leadership that led to resignations in Disney's management team. Chapek's firing and Iger's return highlight the lack of a solid succession plan at Disney, which has led to unexpected changes in the company's executive leadership.
Chapek's downfall underscores the importance of a corporate culture that values employee concerns and effective leadership capable of handling difficult situations. In a context of declining birth rates globally, the choice of a CEO and the planning of succession in companies like Disney become crucial to ensure stability and long-term growth.
