Reading the September 8, 2024 edition of ‘The New York Times’ and leafing through the Business section of the paper, the expression was “Wow!” Only a major scandal would take six of the section’s 12 pages for a story titled: “How Mickey’s Realm Became a ‘Snake Pit’,” with the subhead: “When the Former Disney CEO Bob Iger decided his chosen successor wasn’t up to the job, it set off an epic power struggle like no other in the company’s history.”
The newspaper’s report outlined the power struggle between Bob Chapek and Bob Iger as Chapek attempted to take over as CEO of The Walt Disney Company in 2020. However, except for the frustration shown by Chapek, little is shown that doesn’t resemble other companies’ corporate power struggle.
The Times conclusion was that there were “major missteps” by the Disney board, including failure to formally interview Chapek for the CEO job, failure to fully consider the unworkable reporting structure, and its failure to curb the conflict that erupted between what the Times called “the two Bobs.”
Iger’s contract will expire in December 2026, a committee responsible for finding a successor was appointed last month.
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