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Hollywood Insiders Speculate Disney CEO Could Be Replaced After 2 Years

Insiders are speculating that Disney may be replacing its new CEO after just two years. The company, which has been behind some of the most iconic family properties of all time, including the classic Walt Disney Animation princess movies from Snow White and the Seven Dwarfs to The Princess and the Frog, has only been growing in the last few decades. Disney has been acquiring companies and properties for quite some time, so now their vast kingdom includes Pixar, Marvel Studios, the Star Wars universe, and the 20th Century Studios library. This massive wealth of material has led to their streaming service Disney+, which launched in late 2019, being able to compete with more established streamers like Netflix.

In recent memory, Disney has been helmed by just two long-running CEOs. Michael Eisner was at the head of the company between 1984 and 2005, during which time the company entered the Disney Renaissance, creating a run of modern classics that includes The Little Mermaid, Beauty and the Beast, and The Lion King. He also oversaw the beginning of the company's pivot to digital animation before handing the reins to Bob Iger, who led the company from 2005 to 2020, during which it made many of its recent profitable acquisitions. However, he stepped down from the role and Disney Parks chairman Bob Chapek stepped in to take his place.

Related: Onward’s Gay Character Proves Disney’s Representation Problem

Per THR, Chapek's tenure at the company may already be on its last legs. During his time as CEO, Disney has been a lightning rod of controversy, landing Chapek in hot water. Many insiders believe that when his contract is up in 11 months, he may be replaced - potentially by Tom Staggs, the former CFO, or entertainment chief Peter Rice.

Chapek's name has been in the news altogether too much recently for shareholders' liking, it seems. His handling of Florida's controversial "Don't Say Gay" bill has earned Disney a lot of negative media attention. Disney, which operates the theme park Walt Disney World in the state, maintained a long period of silence on the bill, which will block LGBTQ+-related topics from being taught to children between kindergarten and third grade, and also donating to several lawmakers who supported it. This prompted an open letter from Pixar employees denouncing the company's censorship of LGBTQ+ moments in their films, as well as massive planned walkouts of Disney employees.

Earlier this week, Disney released an official statement denouncing the bill and proclaiming their intention to help get it reversed in what is a very clear attempt at damage control. However, Chapek's name was not mentioned in conjunction with the statement. This omission would seem to imply that there is still strife within the ranks at Disney, lending credence to the rumors that the current CEO is not long for the job.

Next: Bond’s LGBTQ Reveal Repeats Disney’s Gay Mistakes

Source: THR



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