Last week saw a massive power shift at The Walt Disney Company as Bob Iger took over from Bob Chapek as the brand’s CEO. Disney has really suffered in the last two years of Capek’s tenure, and Iger was reportedly absolutely shocked by the backlash and the company’s declining reputation. However, the incumbent CEO may be able to repair some of the damage.
During his time at the company, Czapek withdrew a number of privileges and services, jacked up the prices of basic tickets, mistreated actors, and caused constant unrest among fans, consumers, and investors. Needless to say, restoring the Disney name to its former glory is a task easier said than done. However, Iger appears to be genuinely concerned and willing to make amends for the damage done by the former CEO. While it’s still early days, Iger seems to want to start the recovery right away and has already begun the healing process with his quotes and actions in recent reports and media.
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One of the first things to decide was the sea of actors, many of whom suffered in poor conditions while in Čapek’s employ. Iger sent a letter of reassurance and support to all current cast members, promising to contact them very soon in the coming weeks. Though there’s not much to see yet at the moment, both staff and fans are waiting with bated breath to see what action Yeager takes.
Another sign of the coming change is how vocal Yeager is about some of the practices introduced by Čapek. Claiming that Disney has lost its “soul” and that it is “alarmed” by rising ticket prices. Eiger has since scheduled a city hall meeting for Monday, Nov. 28, about his return to the company. We hope that this event will dispel and dispel many fears and concerns about the future of the company, the Parks and the Disney name.
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In one week, Iger re-assumed his position at the company, directly addressed the challenges faced by the cast and staff, voiced his concerns, and took steps to voice his plans for the future. While there is no magic bullet to make things right again, at least the CEO knows what’s going on and is making his position known to the public. While actions certainly speak louder than words, it looks like Disney is starting to get on the right track for what it used to be.
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