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The Journal.

How Disney's CEO Got Caught in Florida's Fight Over Gay Rights

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 21 March 2022

⏱️ 19 minutes

🧾️ Download transcript

Summary

Since taking over Disney in early 2020, Bob Chapek has presided over a difficult period for the company. Now, a bill in Florida has become another stumbling block for the embattled CEO. WSJ's Robbie Whelan looks at Chapek's tenure — and why he was reluctant to speak out against a bill critics are calling "Don't Say Gay." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Disney employees around the country have been staging daily protests this week.

0:10.8

And tomorrow they're planning a full day walk out.

0:14.4

They're protesting the way the company's CEO responded to a bill that recently passed

0:18.8

in Florida.

0:20.6

Florida State Senate passed the so-called Don't Say Gay Bill, which aims to ban the discussion

0:26.2

of sexuality and gender identity in schools.

0:29.7

Students, teachers are rising up in protest.

0:33.2

This is a peaceful demonstration to show the Florida legislature that what they are doing

0:41.0

does not represent us.

0:43.5

Disney has a massive presence in Florida.

0:46.2

There's Disney World, tens of thousands of employees, and the company enjoys tax breaks

0:51.0

from the state.

0:52.0

So, when the bill was introduced, people looked to Disney's CEO, Bob Chepek, to see how

0:57.8

he would respond.

0:59.8

At first, Chepek was silent, but after facing an avalanche of criticism from employees and

1:05.2

shareholders, he reversed course and decided to take a firm stand against the bill.

1:12.7

The whole thing ended up being a complete quagmire for Chepek and for the company in general.

1:17.9

That's our colleague Robbie Whelan, who covers Disney.

1:20.2

And he says this whole situation has come at a bad time for Chepek.

1:24.2

The company's stock is not doing well.

1:26.3

They don't have a very rich slate of movies coming out this year to rely on to generate

1:31.0

big profits.

...

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