NewsBite

How a CEO undermined his chosen successor and returned to power

How a CEO undermined his chosen successor and returned to power

When Disney’s Bob Iger stepped down as CEO, he stayed on as “creative director” and executive chair – to the ultimate dismay and downfall of his successor, Bob Chapek.

Bob Iger, who returned as CEO in November after his successor Bob Chapek was fired, is under pressure to improve results. Bloomberg

James B. Stewart and Brooks Barnes

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

At 5pm on February 25, 2020, Bob Chapek and Bob Iger settled into matching directors’ chairs on The Walt Disney studio lot for a series of live media interviews. The company had just shocked pretty much everybody by announcing that the little-known Chapek would be replacing the wildly popular Iger as CEO.

The bald and stocky Chapek and the greying but still debonair Iger struck an immediate contrast, even though both were dressed in navy suits and open-collar white shirts and both were named Bob. To avoid confusion, some referred to them as “Bob One” and “Bob Two,” or “Big Bob” and “Little Bob” (even though Chapek was taller and heavier). And then there was “Handsome Bob” and “Boring Bob.”

Loading...

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In North America

Fetching latest articles

Original URL: https://www.afr.com/world/north-america/how-a-ceo-undermined-his-chosen-successor-and-returned-to-power-20240909-p5k8xu