According to a new report employees working under the media and entertainment industry giant Disney are not happy with its decision to appoint Bob Chapek as the new CEO of the company. One anonymous high-level executive of the company has revealed that the creative employees of the company are losing power and their creative independence under the leadership of Chapek. According to The Hollywood, the executive stated, "Every creative person is leaving or losing power."
Bob Chapek was appointed as the Chief Executive Officer of The Walt Disney Company in February 2020, after his predecessor Bob Iger who was the CEO for a long period of 15 years became the chairman of the media company. An American media executive and businessman Bob Chapek before becoming the chief executive officer (CEO) of The Walt Disney Company, worked in it for a long period of 26-years, beginning in the Home Entertainment division, and rising to become the Chairman of Disney Parks, Experiences and Products.
Last month, chairman Bob Iger made headlines around the world after he warned Chapek of not being too data-centric, business-orientated, and number-driven. He advised Chapek to be creative.
He said, “In a world and business that is awash with data, it is tempting to use data to answer all of our questions, including creative questions, I urge all of you not to do that.” If Disney had relied too heavily on data, he noted, the company might never have made big, breakthrough movies like Black Panther, Coco and Shang-Chi, and The Legend of the Ten Rings.
Bob Chapek according to The Hollywood Reporter, replied declaring, "in no uncertain terms, that Disney would be a data-driven company moving forward, much to the concern of those in Hollywood"
The 61-year-old Bob Chapek was recently seen speaking at the Gold Goldman Sachs media conference. The chief executive officer Chapek in the conference addressed the future of the company.
He said, “A quarter-to-quarter business is not linear, that’s something where we’re not exactly aligned with the Street.”
He added, “Investors take last December and say, ‘Oh, they want to get to 230 or 260 or whatever the number, and they divide it by the number of quarters and say, ‘They need to add ‘X’ per quarter. [But] these numbers tend to be a lot noisier than a straight line quarter-to-quarter, and we have seen some of that in this current quarter." He said, "(Disney execs, at the company’s investor day December 10, projected 260M Disney+ subscribers all in by 2024.)"
He continued, “This is very short term, in fact, has been resolved. The studio currently has 61 new movies and 17 episodic programs in production. The television group has “hundreds” of new programs in production and the company has 200 productions underway across the globe."
Chapek further added saying, “The supply chain is healthy … but the resurgence of Covid and Delta did impact production so we have a lighter production quota in Q4 than we might have expected, he didn’t mention specific productions delayed by the fast-spreading variant."