“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said Susan Arnold, Chairman of the Board.
Right away, let’s state the obvious. While all the official statements say that Bob Chapek has “stepped down” from his position as Disney CEO, the reality is that he was forced out and had no choice.
And while it’s true that Chapek was not a popular man with just about anyone, the biggest reason he is no longer Disney CEO is the cratering Disney stock price over the last year.