Bob Chapek News

During a Wall Street Journal event, Microsoft gaming chief Phil Spencer and Snap CEO Evan Spiegel revealed that they are not big fans of the metaverse in its current form.

The Labor Department issues its October report on consumer prices on Wednesday, The Walt Disney Co. releases its latest quarterly financial results before the bell on Thursday followed by the Labor Department's latest report on weekly unemployment bene...

The Walt Disney Co. is tapping Morgan Stanley executive James Gorman to serve as its next chairman, beginning early next year

The Walt Disney Co. has tapped James Gorman to lead its succession planning committee as the entertainment company continues to work toward finding someone to take over the helm from Bob Iger

Walt Disney on Wednesday named board member and Morgan Stanley executive chairman James Gorman to chair its succession planning committee, which is looking for the next chief executive officer. The board has extended CEO Bob Iger's retirement date five times. Iger retired once and then was brought back in late 2022 to replace his hand-picked successor, Bob Chapek. Disney won a months-long proxy war with activist investor Nelson Peltz and is refocusing attention on finding Iger's successor.

Disney shareholders have rallied behind longtime CEO Robert Iger

Nelson Peltz’s Trian Fund Management is formally nominating the activist investor and a former Disney executive for a seat on Disney’s board, two days after the media and entertainment company nominated its own slate of directors

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Bob Iger said on Wednesday he would «definitely» step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale. In a wide-ranging interview at the New York Times Dealbook Conference, Iger also said he was «bullish» on the prospects for Shanghai Disneyland and he expected the company would expand the theme park «relatively soon.» Iger, 72, returned to Disney as CEO in November 2022, less than a year after he retired, to revamp the media company after the board ousted his hand-picked successor, Bob Chapek. Iger had planned to stay for two years but agreed to extend his stay through 2026. Disney's board is undertaking a «robust» search for a successor, Iger said, adding that he was «definitely going to step down» at the end of his current contract. After Iger spoke, Disney's board announced it had appointed Morgan Stanley CEO James P.

Walt Disney Co. has reported sharp profit growth for its fiscal fourth quarter while announcing an expansion of its cost-cutting drive under returning CEO Bob Iger

The Walt Disney Co. on Monday named 34-year PepsiCo veteran Hugh Johnston as its new chief financial officer

The Walt Disney Co. is planning to invest approximately $60 billion into its theme parks and cruise lines over the next decade, as the company looks to continue growing one of its more successful business segments

Bob Iger led a 45-minute town hall session in Burbank, California. During the exchange, Iger took on questions from anxious employees on thorny issues like the recruitment ban, the outlook for conventional television enterprises, the possible sale of the company, and the company’s stance on LGBTQ concerns that had plagued the term of his predecessor Bob Chapek. Regarding the latter, Iger emphasised that a fundamental principle of Disney's storytelling was embracing inclusion, acceptance and tolerance, and it was crucial for the company to uphold this. But his big message to the employees in the end was: “The status quo is gone.” As he has set about reshaping Disney, the path has been arduous for Iger. The CEO has been dealing with a spectrum of challenges, from tackling streaming losses and dipping linear subscriptions to navigating advertising headwinds. Concurrently, he has had to manage an internal reorganisation that empowers creative divisions for content authority and distribution, while addressing vital cultural aspects like LGBT inclusion. Then there’s the key task of identifying a successor. The CEO has acknowledged that the task of turning around the Disney business has proven more challenging than he anticipated. Over the past year, Disney's stock price has fallen by 30%. On August 25, the stock closed at $83.27, mirroring levels last seen in May 2014. In the June quarter, revenue climbed 4% to $22.33 billion, yet missed forecasts. A $2.7-billion restructuring expense led to a $460-million loss, compared with last year's $1.4 billion profit. Iger's urgent focus is to halt the decline of the TV market, curb streaming losses, and arrest the stock price slide.

Bob Iger will remain as CEO of The Walt Disney Co. through the end of 2026, agreeing to a two-year contract extension that will give the entertainment and theme park company some breathing room to find his successor

Walt Disney's board on Wednesday extended Chief Executive Officer Robert Iger's contract by two years as the experienced leader who came out of retirement in 2022 battles long-term challenges to its film and television businesses. The board said in a statement that it aimed to maintain «continuity of leadership during the company's ongoing transformation.» Iger returned to Disney as CEO in November 2022, less than a year after he retired, vowing to stay for two more years to restore the business while seeking a more durable replacement after the company pushed out Bob Chapek, Iger's hand-picked successor. «There is more to accomplish before this transformative work is complete,» Iger said in a statement, adding that the board was continuing to interview internal and external CEO candidates.

Disney has pulled the plug on its metaverse division, eliminating the entire team of 50 people tasked with exploring ways to tell interactive stories in new technological formats. 

The Walt Disney Company began laying off thousands of employees to cut costs. Among those caught in the layoffs are employees from the division that were working on the company’s metaverse strategy.

Entertainment giant Disney has reportedly ditched its metaverse division as part of a broader restructuring plan that will see the firm cut its operating expenses by $5.5 billion and lay off 7,000 staff over two months.

In this week’s newsletter, read about how a nonfungible token (NFT) protocol was affected by the FTX collapse leading to layoffs. Despite the effects of the FTX collapse, industry players within the NFT space are still confident in the recovery of NFTs. Meanwhile, Disney brought back metaverse-backer Bob Iger as its CEO, and check out how NFTs have taken center stage at Formula 1. And, don’t forget this week’s Nifty News featuring China-based tech companies offering FIFA World Cup fans a metaverse-like viewing experience of the soccer event. 

Metaverse-backer Bob Iger has announced a surprise return to his former role as CEO of Disney, taking over from now-former CEO Bob Chapek.

The Walt Disney Company could be on the verge of expanding into the crypto space after posting a new job for an “experienced corporate attorney” to work on “emerging technologies” such as nonfungible tokens (NFTs) and the Metaverse.