CNBC SPECIAL: Disney's Wildest Ride Part 1

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CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 13 November 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

CNBC’s Alex Sherman reports on the inside story of a CEO succession plan gone awry at Disney — a cautionary tale of how good intentions clashed with ego and hubris at the highest levels of corporate America. Sherman spoke with more than two dozen people who worked closely with Disney’s last two CEOs, Bob Iger and Bob Chapek, between 2020 and 2022. His report features many never-before reported details about Chapek’s tenure, how and why he was fired, and Iger’s plan to revive Disney now that he’s CEO once again. To read the full article go to https://cnb.cx/3Pr3kEd Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	What does a private bathroom?
0:03.0	Oogie Boogie Bache and a hippopotamus
0:06.0	have to do with the behind-the-scenes
0:08.0	chaos between Bob Eager and Bob Chepeck at Disney?
0:12.0	I'm C.N. Media reporter Alex Sherman. I spent many
0:16.9	months reporting the inside drama of a CEO succession plan gone awry. A cautionary tale about how good intentions
0:25.9	collided with ego and hubris at the highest levels of corporate America. Welcome to Disney's Wildest Ride.
0:35.0	Part 1.
0:40.0	After pushing back his retirement four times, Bob Eiger finally made the leap.
0:45.4	On February 25, 2020, he announced he would step down as Disney's CEO.
0:51.5	His hand-pick successor, Bob Chapeck, then Disney's Parks Chairman,
0:57.0	would take over the day-to-day job of running the company effective immediately.
1:02.0	As part of the Changing of the Guard,
1:04.0	the Disney Board suggested the new CEO should take over
1:08.0	Eiger's expansive office
1:10.0	at Disney Headquarters in Burbank, California.
1:13.0	There was just one problem.
1:15.0	Iger had no interest in moving out.
1:17.5	He wasn't truly leaving Disney anyway.
1:20.0	His succession plan allowed him to stay on as executive chairman for 22 more months.
1:25.0	Chapek would report to him and the board.
1:28.0	Eiger would also, quote, direct the company's creative endeavors.
	...

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