Disney was descending into knee-deep problems due to embroilment into controversies. The leadership changed at Disney when Bob Iger left and Bob Chapek took over the entertainment giant. This switch happened in 2020 when the world was in a pandemic and Hollywood was going through a rough patch, but the streaming services saved the sinking ship.
But, Chapek, the now former CEO of Disney gained a lot of flak for the uncertain stance on Florida’s “Don’t Say Gay” bill. Scarlett Johansson dragged the company to court for the loss of money. Now, the company, in 2022, is contemplating mass layoffs and a hiring freeze due to a huge loss of money in the current quarter. Amidst the chaos, they have brought back Bob Iger, and he is already taking major steps.
Also Read: Who Replaced Bob Chapek As The New CEO Of Disney?
Bob Iger Wants To Restructure Disney With Creatives At The Forefront
On November 20th, 2022, the Board members of Disney decided to reinstate Iger as the new CEO. Bob had Bob Chapek as the new successor after he stepped down as the CEO. He continued to be associated with Disney as the Executive Chairman. On the side, he partnered with a venture capital initiative.
The current CEO has two years to revamp the company by clearing the past baggage of Chapek and the new way forward. In a new memo, he expressed his interest to let the creatives take the front seat instead of the data-driven executives.
In the memo, he said, “I’ve asked Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to work together on the design of a new structure that puts more decision-making back in the hands of our creative teams and rationalizes costs, and this will necessitate a reorganization of Disney Media & Entertainment Distribution”.
Also Read: Disney Is Bracing For More Walkouts As Employees Voice Their Dissatisfaction With CEO Bob Chapek
The CEO Does Not Want “Data-Driven” Answers
In the third week of November 2022, Chapek announced that there will be mass layoffs conducted along with a hiring freeze. This comes after a disappointing quarterly report. The company saw a surge in subscriptions to Disney+, Hulu, and ESPN+, but the company had to face a loss of $1.1 billion.
In his memo, he said, “I am fully aware this will be a difficult process for many of you and your teams. We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time.”
But, the new leadership has a different plan to save the sinking revenues. He weighed creativity against the data for Disney Media And Entertainment Distribution. Bob, in 2021 said, “In a world and business that is awash with data, it is tempting to use data to answer all of our questions, including creative questions,” he originally said at a retreat back in 2021.”
“I urge all of you not to do that. Our goal is to have the new structure in place in the coming months. Without question, elements of DMED will remain, but I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses.”
Also Read: Is Johnny Depp Coming Back To ‘Pirates Of The Caribbean’ With New Disney Deal?
