Why Disney Fired CEO Bob Chapek Revealed

The Hollywood Reporter has obtained new information regarding Disney's decision to replace Bob Chapek with Bob Iger. Disney's board of directors had been split on whether Chapek should stay in his position "for the past several months." The final decision to fire Chapek, however, was reportedly made within the last week. Because the change occurred so quickly, the report stated that "even at the highest levels," very few people were aware of Iger's replacement of Chapek.

Chapek's poor performance during the company's most recent quarterly earnings call earlier in November 2022 was the deciding factor in Disney's decision to fire him. During the call, Chapek mentioned the need for cost-cutting measures, but only hinted at what these plans would be later that week. The former CEO proposed plans like a hiring freeze and layoffs.

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