The Reasons for Disney CEO Bob Chapek’s Sudden Resignation

The board of directors of Walt Disney Co. in June renewed Chapek’s contract as the iconic company’s chief executive for a another three years,

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adding that his leadership was essential to “keeping Disney on the prosperous path it is on today.”

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But on Sunday, Disney’s board quickly fired Chapek and replaced him with Bob Iger,

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a move that was applauded by Wall Street and the company’s devotees.

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Chapek’s issues appeared to have been escalating practically from the moment he assumed control of Disney in late February 2020

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Insiders claimed that Chapek’s leadership was more cripplingly undercut by a string of errors and slip-ups, which ultimately resulted in an irreparable loss of confidence

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things heated up on Friday when key Disney board members, including Chair Susan Arnold, approached Iger and extended an invitation for him to return as CEO

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Disney’s board acted quickly due to worries that Iger, 71, was exploring a post to lead another entertainment company

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