Terms of Service apply. In March 2018, Chapeks unit, Walt Disney Parks and Resorts, was merged with the Disney Consumer Products and Interactive Media segment and renamed Walt Disney Parks, Experiences, and Products as part of the companys strategic reorganization. Asked about Lucasfilm chief Kathleen Kennedy, Chapek said he is absolutely thrilled with her and the company looks forward to having Kathy directing the activities of the entire Lucasfilm operation for many years to come.. All Rights Reserved. ), 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. In his message on Friday, Chapek appeared to speak directly to a common refrain from the employee statements, namely incredulity that Disney would continue to support Florida legislatures who voted in favor of the Dont Say Gay bill. Chapek has a career as an American media executive. 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. He was the chief executive officer (CEO) of The Walt Disney Company from 2020 to 2022. Disney CEO Chapek Bob Chapek Tuesday said he doesnt really see Disney as characterizing itself as left-leaning or right-leaning responding to a shareholder who You will hear more about our progress in the coming weeks. 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. Robert Chapek. 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. 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. Bob Chapek, Disneys chief executive, addressed criticism about the companys silence on anti-L.G.B.T.Q. Mr. Iger suggested at the time the company would stop filming big-budget films in the state if it passed. A Disney representative didnt respond to a request for comment on Chapeks second year as CEO. Robert Iger, Political views are personal matters. Given that India was where all the growth was and represents the biggest chunk of sign-ups, theyre going to lose ground in a hurry., There is another side to this equation, however. ButWalden has been far more involvedin the transformation and strengthening of the companys TV-production operations. Iger, 71, stepped down as CEO in February 2020 and was replaced by Chapek, 62, who previously ran Disney's theme parks and consumer products division. https://www.wsj.com/articles/disney-to-pause-political-donations-in-florida-11647028301. On Monday, Walt Disney Co. Chief Executive Bob Chapek said he didnt want to wade into politics. Chapek keeps his politics more private than Iger, the democrat-turned-independent that preceded him as CEO. During annual shareholder call, CEO Bob Chapek maintains the media giant isnt left leaning or right leaning, but instead stands for the universal values of respect, Copyright 2022 by WKMG ClickOrlando - All rights reserved. Ron DeSantis and sought to meet with him to discuss the bill. We are hard at work creating a new framework for our political giving that will ensure our advocacy better reflects our values. I missed the mark in this case but am an ally you can count onand I will be an outspoken champion for the protections, visibility, and opportunity you deserve.. Last week, former CEO Bob Iger weighed in on a political debate in Florida regarding the Dont Say Gay bill in a tweet. 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. 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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. But they forget that poor morale can create a massive brain drain and hobble the future. Landgraf, for example, is expected to continue to enjoy the same general autonomy he had for years under Rice. Ron DeSantis' support of the bill. The Florida bill is expected to pass the state senate and become law. 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. His tenure at Disney began when he was named unit president of Buena Vista Home Entertainment, a division of Walt Disney Studios Home Entertainment. Chapek has a career as an American media executive. You needed me to be a stronger ally in the fight for equal rights and I let you down. stepped down as executive chairman at the end of 2021. It was a week of damage control that ended with Mr. Chapek trying to assuage his staff and critics by announcing Disney was re-evaluating all of its political giving and begging his employees forgiveness. 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. As one industry insider sympathetic to Chapeks plight puts it, The Hollywood press has decided what their narrative is about him, and theyre just not giving him a break.. I am committed to this work and to you all, and will continue to engage with the LGBTQ+ community so that I can become a better ally. However, the fact that Disney stock prices have remained relatively stable since Chapeks takeover indicates the CEOs blunders are not perceived as a threat to Disneys bottom line. project at Hulu, resulting in the streamers biggest unscripted-series launch ever. And 91 percent of Indian sports enthusiasts, or 124.2 million souls, are cricket fans. I dont pretend to know how Chapek makes decisions, but perhaps whatever issues he had with Rice simply took more time to crystalize, or given how much more challenging the streaming business has become in recent months, Chapek wanted to take action now to ensure his TV team was operating as smoothly as possible. Its a much less sensational story than whats been written, but I thinkBob simply didnt like working with Peter.. https://t.co/VLioyKGW25. You only need to own 1 share in order to vote. As Crupi notes,Disney makes a mere 76 cents in average revenue per subscriber from Disney+Hotstar, which is just 12 percent of the $6.32 ARPU generated via the D+ customers in North America, which is why Chapek was able to pre-spin a possible loss of IPL during the last Disney earnings call. He finished the week pledging to crusade against anti-LGBTQ to consider how it might hurt children. You will hear more about our progress in the coming weeks. India, with a population well in excess of 1 billion people, has become a particularly important part of the Disney+ story the past couple of years, accounting for over one-third of the platforms worldwide subscriber tally. He succeeded Thomas O. Staggs, who had been named COO (Chief Operating Officer) of Disney the previous month. I truly believe we are an infinitely better and stronger company because of our LGBTQ+ community, he wrote. Florida governor andAmericas Next Top Trumpcontestant Ron DeSantis took Chapeks reversal and used it as an excuse to try to cancel one of the states biggest and most beloved companies. Bob Chapek is seen in the inset on November 8 in New York City. The Human Rights Campaign will not accept this money from Disney until we see them build on their public commitment and work with LGBTQ+ advocates to ensure that dangerous proposals, like Floridas Dont Say Gay or Trans bill, dont become dangerous laws, Joni Madison, interim president of the HRC, said in a statement on Wednesday evening. The Walt Disney Co. announced Sunday the unexpected reinstatement of Bob Iger as the entertainment giant's CEO, with his successor, Bob Chapek, stepping On Monday, members of the House Judiciary Committee met in New York for a hearing on violent crime in the city. Chapeks tenure saw the battle with Florida Republican Gov. 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. Speech, Jim Jordan's Crime Hearing Takes Surprising Turns, China's 'Artificial Sun' Smashes Nuclear Fusion Record, Putin Issues Ominous Warning About How Russian Navy Could be Deployed, Who Is Ralph Yarl? You needed me to be a stronger ally in the fight for equal rights and I let you down. McCarthy used his speech in NYC to slam President Joe Biden for doing "nothing" to address the nation's financial crisis. Chapek has eschewed such public positions and rose through the ranks happy to let others have the spotlight, colleagues said. 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