What is Bob Iger Expected to Change at The Walt Disney Company?
The Disney community is all a buzz today with the news of Bob Iger replacing Bob Chapek as CEO of The Walt Disney Company. The change came unexpectedly last night but was not really a surprise to most. Many Disney fans have not liked Bob Chapek and the changes he has made in the last couple of years. Fans are rejoicing on social media but what will Bob Iger’s return really mean for Disney?
Though Bob Iger handpicked Bob Chapek to replace him as CEO in early 2020 he has not agreed with several of Chapek’s decisions and changes. Disney’s stock has also dropped 40% in the last year with the biggest point of contention being Chapek’s reorganization of the company, which established a new division called Disney Media and Entertainment.
With Iger now back in charge, some of Chapek’s decisions could be undone. The new division, Disney Media and Entertainment, could be removed. Undoing that restructuring could be messy but it’s hard to imagine Iger keeping that organization in place.
Chapek also recently announced a price increase for Disney+. The service without ads is going to $10.99 per month making it more expensive than other no-ad streaming services. Iger has said in the past that Disney+ should underprice competitive streaming services. The new Disney+ pricing is set to start December 8. It might be too late to walk back that increase but it is a possibility.
While we’ve seen many Disney fans hoping that Iger will get rid of new systems at the theme parks like the park pass reservation system and Disney Genie, chances are very slim that that will happen. Some of those things were already in the works before Iger left Disney in 2020. Don’t expect park ticket prices to drop or the Disney Dining Plan to return soon just because there’s a new CEO.
If you could have one thing changed at Disney, what would it be?
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