When the Walt Disney Company made the surprising announcement that former-CEO Bob Iger was stepping down effective immediately on February 25, Disney fans (and leaders in the business world) suddenly found themselves pondering the future of what is arguably one of the most recognizable companies in the world.
Iger’s replacement was announced at the same time as his departure: former Chairman of Disney Parks, Experiences, and Products Bob Chapek. Chapek — who is the Company’s seventh CEO — is perhaps most recently recognizable as the face of the openings of Star Wars: Galaxy’s Edge lands in Disneyland Park and Walt Disney World’s Disney’s Hollywood Studios.
But his history with the Walt Disney Company goes back well before 2019.
Who is Bob Chapek?
Bob Chapek was born in 1960 and raised in Indiana. His parents took him to Walt Disney World every year, which perhaps helps to account for the Los Angeles Times’ characterization that he “speaks fluent Disney”.
Chapek has a degree in Microbiology from Indiana University — Bloomington and an MBA from Michigan State, and prior to joining the Walt Disney Company 27 years ago, he worked in the field of packaged goods with H.J. Heinz and in the field of advertising with J. Walter Thompson.
But it’s safe to say that Chapek is a Disney man. He’s been with the Company for nearly thirty years and calls it “the greatest company in the world.” Most recently he served as the Chairman of Disney Parks, Experiences, and Products (the position was created in 2018), merging his experience as President of Distribution for Walt Disney Studios, Head of Consumer Products, and President of Parks and Resorts. (Sidenote: whether you loved or hated the Disney Vault system, you can thank Chapek, who led the creation of the system as President of Home Entertainment).
His work with Disney hasn’t always been smooth sailing. In most recent memory, with the opening of Galaxy’s Edge came harsh criticism about the Company’s crowd management with particular emphasis on the perceived failure to draw crowds to the immersive new lands. (Subsequent openings of Rise of the Resistance seem to have quieted some of the criticism levied at the lands themselves.)
Still, the Walt Disney Company expounds upon Chapek’s qualifications in his official biography, saying he:
“[over]saw the largest investment and expansion in its sixty-year history, including the successful opening of Shanghai Disney Resort; nearly doubling the Disney Cruise Line fleet; introducing the most technologically advanced and immersive lands in the parks’ history, Star Wars: Galaxy’s Edge at Disneyland Resort and Walt Disney World Resort; the growth of Marvel-inspired attractions across the globe; and one of the most ambitious development projects at Disneyland Paris since the park first opened.”
That said, Chapek does have some gaps in his resume, namely that he lacks experience in television and streaming. With the wild success of Disney+ beginning last November, Chapek will need to catch up quickly. But he won’t be alone in this arena. Rather Bob Iger will turn his focus to the “creative side” of the Company — and likely help Chapek in his transition to overseeing this aspect as well.
The Walt Disney Company also points out that Chapek “reports to the Company’s Executive Chairman, Robert A. Iger, and the Board of Directors”, so though Bob Iger is no longer the CEO, he will retain a top-tier position in the Company until his official retirement from Disney at the end of 2021.
In addition to his work with Disney, Chapek also serves as a Board Member for the Make-A-Wish Foundation, so expect to see him continue to “leverage the power of Disney to make a difference in the lives of children with critical illnesses and their families.”
What can we expect from Bob Chapek’s tenure as CEO?
In addition to his continued passion for the Make-A-Wish Foundation, fans and interested parties can expect Chapek to face some serious challenges head-on. For starters, the newly-minted CEO will need to address the immediate effects of the closure of Parks in Shanghai, Hong Kong, and Tokyo due to coronavirus. Revenue loss from these closures will be significant, and there doesn’t appear to be a hard timeline on when two of the Parks will reopen (Tokyo’s closure is cited as being only through March 15).
Chapek will also serve as CEO through the continuing transformation of Epcot which Epcot Vice President Melissa Valiquette described as “the largest transformation of any Disney Park ever.” The pressure to make this massive project a success — and to meet the always-high expectations of fans — will fall squarely upon Chapek’s competent shoulders.
Of particular concern for Disney Parks fans: the cost of visiting the Parks, persistent issues with overcrowding in the Parks, and rapid growth that doesn’t always allow for top-quality or bespoke experiences. The (over?) use of intellectual property in attraction development (think: Marvel overlays) and the redundancy of attractions (think: Remy’s Ratatouille Adventure copy in Epcot) are often cited by Disney Parks purists as detracting from the Parks’ mission and history.
But the Walt Disney Company says Chapek has a “guest-centric approach [that] focuses on ensuring that every aspect of an experience is uniquely Disney and exceeds guest expectations.” And Susan Arnold, Lead Director of the Disney Board, said in an official statement that Chapek has an “appreciation for the special connection between Disney and its consumers.” Only time will tell if the consummate businessman can tap into the spirit and enthusiasm of Disney fans across all media and continue to make magic with the Mouse.
I think we know he’ll cut budgets and raise prices. He’s not creative, so don’t expect any miracles