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Life is too short for hate, guys.
Former Disney (DIS) C-suite brothers Bob Chapek and Bob Iger traveled the world together, visiting theme parks and even announcing at Target (TGT) that Disney was moving away from DVDs and toward streaming. They shared family stories, red wine and laughter. Chapek, Iger’s understudy, the CEO of all CEOs.
Until it all ended abruptly, Chapek said when Iger announced him as CEO’s successor. From there, everything went downhill, according to Chapek, who blames Iger for abruptly ousting him the day before a corporate event.
Chapek said he has not visited Disney since and has not spoken to Iger. He said he was baffled that Iger had him erased from Disney’s website and in the parks, as if his tenure as CEO never existed.
“I haven’t seen him or talked to him since I was released. I didn’t anticipate that this (we’re talking) would happen, especially now, but it wasn’t going to happen anyway because remember, I don’t exist,” Chapek said in a new episode of the Power Players podcast with Brian Sozzi on Yahoo Finance (video above; listen below). “I don’t know if that would be productive or not, but you know, I’m a gentleman and I will talk to anyone about anything at any time.”
Chapek, whose just-released memoir, “Behind Castle Walls,” chronicles his rise and fall at Disney, spent nearly three decades at the entertainment giant. He left the company’s home video division to lead consumer products and ultimately Disney’s vast parks, experiences and merchandise businesses before succeeding Bob Iger as CEO in February 2020.
He took the top job just as the COVID-19 pandemic was hitting Disney’s theme parks, movie theaters and other businesses. At the same time, he pushed through a major reorganization and continued the company’s aggressive expansion into streaming.
Chapek’s tenure became increasingly controversial amid conflicts over relationships with talent and with Iger, then executive chairman of Disney.
Although the Disney board unanimously extended Chapek’s contract for three years in June 2022, the board removed him from his position five months later on November 20, 2022, and brought Iger back as CEO.
Chapek said he was forced to write the book to regain control of the narrative of his time at Disney, which he believes Iger severely tarnished.
Brian Sozzi is the editor-in-chief of Yahoo Finance, host of the Sozzi unleashed the morning show and Power Actors with Brian Sozzi podcast and member of the Yahoo Finance editorial leadership team. Follow Sozzi on @BrianSozzi, InstagramAnd LinkedIn. Any advice on stories? Email brian.sozzi@yahoofinance.com.
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