Hi, I'm CNBC media reporter Alex Sherman, and this is part two of Disney's Wildest Ride,

the inside story of a CEO succession plan gone a ride, a cautionary tale about how good intentions collided with ego and hubris at the highest levels of corporate America.

Part 8. A Fight in Florida. A little more than a month into Chepex tenure without

Iger at the company, Florida Governor Ron DeSantis, a Republican, introduced the Parental Rights

and Education Act, which critics called the Don't Say Gay Bill.

The legislation would prohibit classroom instruction by school personnel or third parties on sexual orientation or gender identity.

Disney is one of the largest taxpayers and employers in Florida, and Cheapeck and Morel were soon

fielding media inquiries about the company's stance on the matter. And employees, particularly

animators at Pixar and Disney Animation, wanted to know how the company planned to react.

Iger tweeted his thoughts, if passed, this bill will put vulnerable young LGBT people in jeopardy, he wrote.

During Iger's tenure as CEO and chairman, he had freely pontificated about an array of causes, including climate change, diversity, and abortion.

In a series of virtual meetings after the killing of George Floyd,

Eiger had told Disney employees that making their voices heard was the best way to bring about change,

according to people on these calls. Chepec wanted to chart a different path. Weeks before

DeSantis introduced his planned legislation, Morel had outlined a new communication strategy to the board.

He wanted Disney to stay out of political skirmishes entirely,

and instead signal its values through the three Cs,

content, culture, and community organizations supported by Disney.

Chepec and Morel had assumed they'd have months to explain their strategy internally.

But Iger's tweet dialed up the pressure on Cheapac to say something.

On March 7, 2022, Cheapec and Morel put their new public relations strategy into action.

They penned a memo to all staff, approved by the board.

...