After Bob Iger ousted Bob Chapek as CEO of Disney in 2022 and took back control of the company, the two had a serious falling out. That’s not surprising, of course. Chapek was originally Iger’s handpicked successor when Iger retired the first time from the House of Mouse in 2020. Chapek’s tenure as CEO was controversial, which led to Iger returning just months after the board extended Chapek's contract. That seems to have understandably led to some bad blood and the two no longer speaking, as Chapek writes about in his new memoir, Behind the Castle Walls. That isn’t all that surprising, but I was surprised by how close they were before Chapek resigned.
Chapek And Iger Were A Team At One Point
Before the ugliness that came at the end of Chapek’s tenure, before he was CEO, he had a very successful run as Chairman of Parks & Resorts. He was one of Iger’s top lieutenants at Disney, and that meant they worked a lot together. They also became good friends. Chapek recently appeared on the Yahoo! Finance podcast, Power Players with Brian Sozzi, where Sozzi summarized their friendship that was forged in long hours, long flights, and socializing. Chapek explained that he even gifted Iger a gold coin to be laid inside the mast of Iger’s sailboat.
What happened next is confounding, because they seemed so close, and obviously Chapek thought they were close, too. I never realized how close they were. That makes the way Chapek was dismissed so fascinating. According to Chapek, Iger and Disney have been more than dismissive of the one-time CEO, they been “vindictive.” They’ve taken his name off of the corporate history on the website and removed all references to him in the parks.
If you’re wondering if their previous working relationship and friendship can ever be fixed, Chapek doubts it, telling the podcast (via Yahoo! Finance):
I have not seen him or spoken to him since my release. I wouldn't forecast that [us talking] to happen, especially now, but it wasn't going to happen anyway because, remember, I don't exist.
According to Chapek, the ball is in Iger’s court. Though Chapek is clearly upset about how his firing was handled by Iger and Disney’s board, he would be willing to hash things out, adding:
I don't know if it would be productive or not, but you know, I'm a gentleman, and I'll talk to anybody anytime about anything.
Iger has since left Disney again and just recently purchased a stake in the Los Angeles Lakers. Chapek, meanwhile, has been busy writing his new book, which, for him, is a way to clear up what he says are misconceptions about his time as CEO of Disney and the process that led to his leaving the company. A lot has been written about both men, and I get the impression that there is still more to come.
