You have helped me better understand how painful our silence was, he wrote. Chapek has eschewed such public positions and rose through the ranks happy to let others have the spotlight, colleagues said. Chapek also pledged to commit Disney to radical LGBTQ activism, including putting transgenderism in childrens This came as a surprise to many Disney employees, who have fresh in their memories Mr. Igers statements about a restrictive antiabortion bill proposed in Georgia in 2019. I am sorry. legislation in Florida. Ron DeSantis and Florida over the parental rights bill. After weeks of internal strife and external controversy surrounding the Walt Disney Companys lack of public response to the Dont Say Gay legislation in Florida, CEO Bob Chapek announced in a company email on Friday that Disney will pause all political donations in the state during a restructuring of its political giving framework. They didnt really even get the chance to prove themselves; they were just deemed either redundant or not right for the new team and dismissed. Walden, by contrast, has been toiling away in the small-screen salt mines for upwards of three decades, dating back to her days as a PR rep forStar Trek: The Next Generation,Arsenio Hall (really! Youd have thought nobody in the town had ever been fired without just cause or that somehow top execs putting their own stamps on their leadership teams was some novel development. Insiders say CEO Bob Chapek is less willing than predecessor Bob Iger to take public political stands including on LGBTQ issues and voting rights. And while Chapeks initial waffling on Dont Say Gay may have caused protests in the streets of Burbank, on Wall Street, experts observe that Chapeks doing just fine financially. Clark says with DeSantis favoring the bill he will likely sign. Instead, according tomultiple published reportsand insiders Ive spoken with this week,Chapek simply didnt think Rice was enough of a team playeror the right fit for where Chapek was taking the company. *Sorry, there was a problem signing you up. He doesnt understand all his constituencies, the company he supposedly runs.. Thats right, the Wall Street banker who runs a firm vilified as the great vampire squid has liberal leanings. Another thing Disney and Netflix have in common is theyre both increasingly reliant on markets outside of North America and Europe to drive subscriber growth. On Feb. 25, 2022, Disney stock stood at $150 per share somewhat lower than the previous year, but analysts attribute that drop to the war in Ukraine, not Chapek. A loss of upwards of 20 million subscribersis possible, according to some analysts; at the very least, it might make it impossible for the company to reach its stated goal of 240 million global customers by fall 2024. I am sorry., Proponents of the bill point to its language as neutral, pro-parent legislation, while its opponents feel that the same text serves to invalidate and marginalize LGBTQ+ students and their identities. Iger continued: "I know this company has asked so much of you during the past three years, and these times certainly remain quite challenging, but as you have heard me say before, I am an optimist, and if I learned one thing from my years at Disney, it is that even in the face of uncertaintyperhaps especially in the face of uncertaintyour employees and Cast members achieve the impossible.". Why Was Frank Ocean's Coachella Set Such a Disappointing Mess? The public pressure prompted Mr. Chapek on Monday to say he was staying out of it. As the executive crosses into his third year as Disney chief after replacing the long-running Bob Chapek in February 2020, Chapek is still facing the fallout over the companys perceived lack of vocal support for the LGBTQ community and its failure failure to denounce Floridas Dont Say Gay bill, which Republican Governor Ron DeSantis signed into law on Monday. Some believe that refusing to say anything about a bill impacting many Florida-based employees could also be taken as a political statement and the companys subsequent efforts to bolster inclusion may seem hollow. ), Eric Schiffer, CEO of The Patriarch Organization, a private equity and venture capital firm, said he would give Chapek an A- for business performance, and a C- for nourishing personal relationships with Hollywood talent. Marcia and Connor make one of the quickest deals in history. At a shareholders meeting Wednesday, Chapek said Disney opposed the bill from the outset, yet did not initially take a public position on it as the company attempted to work behind the scenes to change DeSantis mind. This past week offered the sharpest contrast yet between the two men. Bob Chapek was born Robert Alan Chapek on August 21, 1960, in Chicago, Illinois, United States. If you would like to customise your choices, click 'Manage privacy settings'. However, he says the state will likely see court battles challenging the constitutionality of this piece of legislation. We are hard at work creating a new framework for our political giving that will ensure our advocacy better reflects our values. DIS 0.40% The Walt Disney Co. announced Sunday the unexpected reinstatement of Bob Iger as the entertainment giant's CEO, with his successor, Bob Chapek, stepping McCarthy used his speech in NYC to slam President Joe Biden for doing "nothing" to address the nation's financial crisis. Ever since Rice lost control of content distribution at the end of 2020, the only big areas of his job which didnt overlap with Waldens were FX and ABC News, as well as overseeing the execs in charge of National Geographic and Disney Branded Entertainment (i.e., all the originals on Disney+ that arent from Marvel, Star Wars, or Nat Geo). During the Disney shareholders meeting, Chapek stated the companys opposition to the legislation for the first time. Florida Republicans have passed a bill to forbid instruction on sexual orientation and gender identity in kindergarten through third grade. The company's market cap rose to $260 billion in January 2020, but it dipped to $167 billion this past Friday. I am sorry.. He graduated from Indiana University Bloomington with a Bachelor of Science in microbiology and from Michigan State University with a Master of Business Administration. He didnt do anything anything wrong. Dubbed the "Don't Say Gay" bill by activists, the law prohibits "classroom discussion about sexual orientation or gender identity" in certain grade levels in schools. His stance was made known following criticism over Disney's initial silence on the matter. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. But investors patience for basic maintenance of a profitable media brand wont last forever. He was appointed as the president of Disney Consumer Products. ORLANDO, Fla. Disney CEO Bob Chapek said Friday in an apologetic email to employees that he missed the mark in his response to the outcry over HB 1557, It prohibits discussing sexuality and gender in classrooms and allows parents to sue individual teachers if they believe a teacher has violated the law. His note on Friday said the company would continue to spend money to advance such causes, though, a stance that could result in Disney having to do what Mr. Chapek said he initially wanted to avoidand wade further into charged political debates. Message: Question-mark emoji? Password must be at least 8 characters and contain: As part of your account, youll receive occasional updates and offers from New York, which you can opt out of anytime. I think this is the first time I agree with Chapek. The bills sponsors have defended it as a way of letting families deal with childrens issues rather than teachers. What Is Bob Chapek Political Party? When that caused the chorus of critics to grow louder, he spent a significant portion of his annual shareholder meeting on Wednesday backtracking, saying Disney had been opposed to the bill from the start and that he was personally lobbying Florida Gov. The board said that Iger "has agreed to serve as Disney's CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term.". Chapek earns a C+ in his second year, said Tom Nunan, a and former network and studio executive who served as an executive producer on the Oscar-winning Crash. The reason Chapeks grade isnt lower, and that he receives a plus next to his grade versus a minus, is that despite public snafus, keeping a giant company running successfully is no small task., Added Nunan, Some will say Chapeks not hurting anything except morale. The Lisa Vanderpump District is alive and well. Chapeks comments landed in cast members inboxes days after the bill landed on Gov. Opening Date Set for Adventureland Treehouse Featuring S.E.A. Mr. Iger suggested at the time the company would stop filming big-budget films in the state if it passed. Finally, last week, Chapeks completelyunexpected decision tosummarily dismissDisney General Entertainment chief Peter Rice sent writers at the Tinseltown trades (and upstart industry newsletters) rushing for their respective fainting couches over the horror the absolutehorror! But he doesnt lean as far left as he used to. He was raised in Hammond, Indiana. In 2019, it acquired Fox, which includes 20th Century Fox, Fox Searchlight, FX Networks and National Geographic. Bob Chapek is seen in the inset on November 8 in New York City. He joined The Walt Disney Company in 1993. Speaking to you, reading your messages, and meeting with you have helped me better understand how painful our silence was. ', Copyright 2023 Dow Jones & Company, Inc. 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Congrats to the crew for finishing their first charter and getting their first love triangle. While Chapeks PR missteps may earn him anywhere from a C- down to an F grade, industry observers say Chapek also earns an A (or at least a B+) for growing the companys streaming service Disney+ to an impressive 130 million subscribers worldwide since its November 2019 launch. Chapek signed a multiyear contract in June. Now that is a good motivation not to say his feelings as we dont know if any damage will be done to that respect so its a hard to choose to speak out or not as who knows what could happen. This password will be used to sign into all. The meeting is entitled Reimagine Tomorrow., A global summit of the same name will follow on April 13 and is the first gathering of our employees worldwide to discuss our progress on and plans for improving diversity, equity, and inclusion at Disney., Chief Corporate Affairs Officer Geoff Morrell stated, Whatever Bobs personal politics are, hes not an activist and does not bring any partisan agenda to work. What about the Disney black list? he asked. Disney CEO Bob Chapek publicly opposed Floridas Parental Rights in Education billdubbed the Dont Say Gay bill by criticsWednesday at a shareholders meeting, nearly a week after people protested and asked the company to share its views on the controversial piece of legislation. Robert Chapek. Chapek concluded by promising to engage with the LGBTQ+ community so that I can become a better ally, and that further announcements about the companys efforts to advocate for LGBTQ rights would be forthcoming. Theres bad PR, and theres bad business, Bryan Sullivan, a partner at Early Sullivan Wright Gizer & McRae who focuses on entertainment and investment, told TheWrap. We, Yahoo, are part of the Yahoo family of brands. Walt Disney CEO Bob Chapek claims the company is not left or right leaning, and that everyone agrees Disney has the power to unite us all. But Chapeks claims Chapek took on the role of CEO back in February of 2020 from Bob Iger, right before the entire world shut down due to the COVID-19 pandemic. Woke corporations do not have veto power over bills passed by a legitimately elected state legislature.Democrats radical agenda is unpopular, so they try to use corporations to force it on Floridians who didnt vote for it. Ron DeSantis desk, sent there by Florida lawmakers after finding approval in the state House and Senate. 2, respected industry vet Dana Walden. And 91 percent of Indian sports enthusiasts, or 124.2 million souls, are cricket fans. Earlier this year, the company was criticized by staff, including employees of animation studio Pixar, who said that moments and stories that include same-sex affection had been consistently cut by Disney's corporate executives. Disneys CEO, Mr. Chapek is 61 years old as of 2021. His family went to Walt Disney World on an annual basis. I am sorry. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. I truly believe we are an infinitely better and stronger company because of our LGBTQ+ community. This bill does nothing but put power in the hands of the parents. He succeeded Thomas O. Staggs, who had been named COO (Chief Operating Officer) of Disney the previous month. Mr. DeSantis even cited the companys work in China, arguing that Disney should answer for its business in a country with human-rights abuses. He wasnt fired for cause; he didnt do anything wrong. After spending the last three years duking it out for streaming subscribers, Disney lately has found itself involuntarily locked in a competition with Netflix to see which company can generate the most negative press. Disney owns several properties in Florida, such as Disney World in Orlando, and the company is a major political donor to the state's politicians. One high-level studio executive, who spoke to The Daily Wire on the condition of anonymity, said they, too, were concerned that the company is damaging its brand by abandoning the political neutrality that many hoped the more-conservative Bob Chapek would usher in when he replaced liberal Bob Iger as CEO. Ron DeSantis Turns Up The Heat On Reedy Creek, Paramount Global Signs First-Look Deal With LL Cool Js Rock The Bells, Leads $15 Million Funding Round, Tom Luddy, Irreplaceable Mentor & Spirit Of The International Film Community, Celebrated At NYC Tribute, Jonathan Majors & Manager Entertainment 360 Part Ways Amid Domestic Violence Allegations, Michel Gondry & Hong Sangsoo Movies Chosen For Directors Fortnight, 98% Vote To Authorize Strike As Talks Resume; UK Guild Pledges Solidarity, Top Gun: Maverick Cruises To No. Bob Chapek (born 1960) is an American Business Executive, Entrepreneur, and the new CEO of Disney. The tension turned Disney into another high-profile example of how national politics have seeped into nearly every aspect of corporate Americaand a case study in how quickly the public perception of a company can change. The disgust with Chapek was not just low-level grumbling, but reached into Hollywood executive offices as well. Did Frank Ocean Even Want to Be at Coachella? That sounds far-fetched to me Rice really doesnt have the broad Disney experience needed to run the company but nobody ever went broke betting on pettiness and insecurity as motivating factors in Hollywood. And I think thats a world we should all live in harmony and peace., Disney+ Tops 100 Million Subscribers , CEO Bob Chapek Says. "In the meantime, allow me to express my deep gratitude for all that you do. The Florida bill is expected to pass the state senate and become law. On top of the stock woes, Disney CEO Bob Chapek has become a punching bag for cultural critics. Not happening.Disney shouldnt have said anything. His father served in World War II. Starting immediately, we are increasing our support for advocacy groups to combat similar legislation in other states. But it should be noted that Rice didnt have a TV news background whenhetook control of ABC News, nor did CBS CEO George Cheeks or NBCUniversal boss Jeff Shell. The stockholder, speaking during the Q&A portion of Disneys annual shareholder meeting, noted that co-stars Pedro Pascal and Gina Carano both controversially referenced Nazi Germany in social media comments but only she was removed. Privacy Policy and Brandon, a UCF grad, joined the ClickOrlando team in November 2021. Speaking to you, reading your messages, and meeting with you have helped me better understand how painful our silence was, Chapek said in the statement. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Hes a lousy custodian considering everything he touches leaves Disney more sh.wellyou know. Disney CEO Bob Chapek talks with WSJs Editor in Chief Matt Murray about the challenges of weathering controversies and keeping his nearly 100 year-old company relevant. Speaking to you, reading your messages, and meeting with you have helped me better understand how painful our silence was. On Monday, Mr. Chapek said corporate statements against such legislation were counterproductive, and that his companys inclusive programming was the best tool it had in combating discrimination. LITERAL HIGH: Pusha Ts Welcome to Cokechella sign. "It is with an incredible sense of gratitude and humilityand, I must admit, a bit of amazementthat I write to you this evening with the news that I am returned to The Walt Disney Company as Chief Executive Officer," Iger said. If passed, this bill will put vulnerable, young LGBTQ people in jeopardy. Get our latest storiesin the feed of your favorite networks. And there was more fallout: A group of Disney Imagineers the creative team behind theme parks, attractions, cruise ships and retail outposts, which includes a significant number of LGBTQ members demanded that Chapek reverse a decision to move the entire division to Florida because of what they have called the states hateful legislation. In the latest turn, Disney said on Monday that it will work to get the bill, which Republican governor Ron DeSantis officiallysigned into law earlier that day, repealed. However, his too-little-too late words of regret did little to quell the anger, which continued with employee protests and walkouts at Disney headquarters in Burbank. ), and what eventually became the Fox Broadcasting Corp. And her connectionsto showrunners such as Liz Meriwether (The Dropout), Danny Strong (Dopesick), and Lee Daniels (The Wonder Years) have led to some of Disney TVs biggest successes of late. And now she is calling all the shots. On February 20, 2020, the announcement was made. And if youre just looking just at that part of his portfolio, thenChapek deserves much more credit that hes gotten even when it comes to the sacking of Rice. In 1977, Chapek graduated from George Rogers Clark Jr./Sr. Between May 18, 2019 and March 30, 2021, records show Disney donated $106,809.38 to Friends of Ron DeSantis, the governors Political Action Committee, according to the Florida Division of Elections. He went on: "When I look at the creative success of our teams across our Studios, Disney General Entertainment, ESPN and International, the rapid growth of our streaming services, the phenomenal reimagining and rebound of our Parks, the continued great work of ABC News, and so many other achievements across our businesses, I am in awe of your accomplishments and I am excited to embark with you on many new endeavors. Given Walden has been carrying so much of the load at Disney TV already, theres a logic to simply making her the main person in charge of the entire operation particularly since her new role wont necessarily addthatmuch more to her plate. It is the job of the parents to discuss this. But because of the companys initial wishy-washiness, the CEO seems to have gotten zero credit. A few days later, Chapek offered an apology and announced a pause in political donations in Florida, home of the massive Walt Disney World resort. Political views are personal matters. The most gripping TV drama of the year is happening behind closed doors. How old is Bob? The greedy categorization also infuriated supporters of equal pay for Hollywood women who wondered if a man would have been similarly criticized for demanding that financial obligations be met. I truly believe we are an infinitely better and stronger company because of our LGBTQ+ community. Since Disney companies have donated $2,109,361.87 in the last year for the 2022 election cycle alone, according to the Florida Division of Elections, with hundreds of thousands of dollars going to Republican Party-affiliated groups compared to Democratic Party-affiliated groups. Broadcast news divisions are notorious for leaks and gossipy items from unnamed staffers complaining about company suits, so the odds are high well see stories in the coming months about whether Hollywood-savvy Walden has the experience to oversee news. If you dont support it but lack the backbone to speak up because you care more about optics, then that strategy is already backfiring, because your silence can speak volumes. She also worked toclarify the content brands for the two platforms, figuring out what types of programs should debut on the broadcast network (family comedies, mainstream dramas,shiny-floorcompetition shows) and which made more sense for Hulu (limited series, Emmy-bait dramas). After closing near $160 per share in mid-February, Disney stock has been on a steady slide along with the rest of the market and is now hovering around $95 per share. If youre a shareholder, please vote Chapek off the board by tomorrow. Chapek on Friday pledged to increase Disneys support for LGBTQ+ advocacy groups as he said he strives to be a better ally to the community, and promised more news of the companys progress to that effect in the coming weeks., I truly believe we are an infinitely better and stronger company because of our LGBTQ+ community, Chapek said. He attacked Disney by name, saying it was hypocritical for the company to make money on family entertainment and then speak out against a bill designed to protect parents rights. Chapek has a career as an American media executive. At some point in the future, he will need to be bolder as consumer tastes, competition, technology, politics, and the economy shift, Offenberg said. On November 11, days before his sudden departure was announced, Chapek said there would be a freeze on hiring, with layoffs likely to follow, amid a dip in revenue, according to The Hollywood Reporter. Rather than teachers National Geographic Disney the previous month Yahoo family of brands is expected pass., or 124.2 million souls, are cricket fans be used to sign into.... The inset on November 8 in new York City and meeting with you have helped me understand. You would like to customise your choices, click 'Manage privacy settings ' annual.! January 2020, the CEO seems to have gotten zero credit deals in history and., 1960, in Chicago, Illinois, United States was made that will ensure advocacy! Years old as of 2021 his family went to Walt Disney World on annual! Which includes 20th Century Fox, which includes 20th Century Fox, which includes 20th Century Fox, Searchlight... 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