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Disney CEO Bob Iger Steps Aside; Bob Chapek Named New Head

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Automatic TRANSCRIPT

Let's move onto Disney some big news. Disney CEO BOB. Iger is stepping down as CEO but will remain executive chairman until twenty twenty one. Now Bob Chepe pack will take over. Chepe heck was the chairman of Disney parks experiences and products. He's been at Disney for a long time. Twenty seven years and we knew was going to step down. Yeah but still. This is a bit of a surprise in who the new CEO is. Yeah a lot of people thought you know be Bob. Eiger came out last year and he put something called the ride of a lifetime and he basically forecast that he was at the he was at the end of his time as CEO of Disney. The you know that he would be stepping down. It was not in the middle of the route of lifetime. This was kind of a a foreshadowing. The timing is really odd again. Given the corona virus and Disney Disney parks worldwide or about thirty percent of the revenue of the total profitability of the company. Like this is a big deal yet. A lot of people didn't realize you know the thought that the next leader from Would come maybe from Disney plus from the from the video side and they didn't they went and tapped a guy who's been at the benefit the parks. Yeah I happen to think. It's all a big conspiracy just to keep the Bob's in power feels like a snap. It feels like a snub to someone like Kevin Mayor. Who's been heading up Disney streaming service and Disney for so long has been saying streaming Disney placid future of Disney and to bring somebody in who has experienced running the parkside. The experience I've Disney is an interesting choice and the market doesn't seem to like it. But I I kind of do minus the Bob Bob thing strange but I think it's a good thing because as you said it's the parks in the experience that has been driving Disney throughout his entire history. And you don't want to put everything on streaming and ignore the extremely profitable important aspects. That is the Disney culture. That's created from experiences like parks the thing that's really interesting. And the Bob Eiger it. It's interesting to me that when Bob Eiger became the CEO. I don't know if you remember this but it was not a popular pick at all. It was not you know he was thought of as being the wrong guy coming from the wrong industry but what he has been. He's been a master capital alligator. Bought Pixar Lucasfilm's Fox Studios Marsa Marvel Marvel Tuck in acquisitions exactly exactly me transformational acquisitions. But people didn't realize you know people did not give him the credit in advance that that was what he was going to do. And I think one of the reasons that they went to the direction that they did is the thing that Bob Iger did that. People were surprised about is he really cracked the code on direct to consumer for Disney. Yeah and baby. Yoda and finally finally. We're going to see some BAYONA merchandise and other high not gonNA sell