Disney CEO, Bob Iger, talks about the recent rumors regarding a potential sale of Disney to Apple following his unexpected return to the position.
Bob Iger was first appointed as the CEO of Disney back in 2005, when he succeeded Michael Eisner. Iger held the position for 15 years after his appointment, finally stepping down in 2020. Iger’s tenure is considered one of Disney’s most successful periods from a business perspective.
During his tenure, Disney successfully bought Marvel Entertainment, Lucasfilm, Pixar and the entertainment shares of 20th Century Fox. Additionally, Walt Disney Studios also managed to expand their theme parks and reshaped their business ventures and strategies.
According to The Hollywood Reporter, Bob Iger recently addressed some speculations concerning a potential buy out by Apple. He spoke about the same in a town hall meeting, following his first day after returning to Disney.
Insiders from Disney previously hinted that Iger has been considering a merger with Apple. Iger was previously a member of the board of directors at Apple. He considers this merger as a redemptive measure to overcome mistakes made during Chapek’s tenure. Through a merger with Apple. Iger also wishes to strengthen his legacy at Disney.
However, to everyone’s surprise, Iger dismissed all the rumors as simply speculation. The CEO spoke about his commitment to maximizing Disney’s profits before taking any such drastic step.
Bob Iger’s return to Disney came as a surprise to many, considering he had only stepped down from the position a couple of years ago. However, it is a fact that Walt Disney Studios experienced great success during Iger’s tenure. This explains why the board of directors and senior officials would want Iger back as CEO.
Chapek’s tenure remains one of the darkest eras of Disney. Chapek faced a massive backlash for his stance on Florida’s “Don’t Say Gay” law. Reports suggested that The Walt Disney Company funded and supported anti-LGBTQ+ legislators who were behind the bill. This cast doubt on the company’s stance on inclusivity.
Other than this controversy, Chapek also faced criticism for shifting his focus completely towards the streaming platform, Disney+ and for not focusing enough on theatrical releases. Though Chapek’s decision made sense in the midst of a global pandemic, it did affect the earnings severely.
The infamous lawsuit filed by Scarlett Johannson, following Disney’s controversial decision to release Black Widow in both Disney+ and theaters also came during Chapek’s tenure. In short, Chapek’s tenure was a complete failure, compared to Iger’s successful time at the studios. As a result, he was dismissed from the position and Iger was reinstated as Disney’s CEO.
Hopefully, Iger already has long-term plans ready for bringing back Disney to its glory days. With him denying a merger with Apple, it seems like he is committed to reinvigorate the company as soon as possible.
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