The entertainment giant Walt Disney Co has taken a significant step in bringing
back ex CEO Bob Iger, replacing Bob Chapek at a time when the company embarks
on an increasingly complex period of industry transformation. According to the
chairperson the board sees Iger as their unique leader who can lead the company in
such a pivotal period.
Why Bob Chapek Has To Step Down
Criticism, disagreements and reduced earnings of course. Unlike Iger, Chapek’s
leadership didn’t have the golden run. He left the behemoth in turbulence – heavy
loss on streaming services with market shares going down even further. Moreover,
Chapek came under fire for his response to a sensitive political issue from both the
liberals and conservatives.
Can The CEO Switch Help?
It’s true that Iger is a well respected, beloved figure in the Disney community
and he knows the company very well. His contributions to the company is unrivalled.
But with the rapidly changing customer patterns and with the growing economic
recession in many countries will he be able to steer it to the future it deserves. Only
time can tell to what extent a boomerang CEO can help realising the high hopes.
Speculations revealed that an older CEO might have a reluctant approach to
the changing times. Also the people, the teams who have once worked under him
and helped him accomplished big changes may no longer be there. But industries,
such as Disney have to face the drastic changes with time. So the best approach
should be to groom future leaders. And we all hope that Iger will find another great
leader as his eventual successor in near future.
What Disney Fans Can Expect With Iger’s Return
Many Disney fans rejoiced Bob Iger’s return as the CEO of the company. They
hope the beloved CEO will address the many unexpected issues created under the
leadership of Bob Chapek. They had already seen the quick jump in stock prices
following Iger’s return. But it may take time to fix the guest and customer facing
changes, if they are going to happen at all. Issues such as – theme park reservation
requirements, Genie+, the upcoming price hikes and Disney+ are among the most
important issues that fans are looking forward.
Theme park reservation requirements will still be mandatory. But starting
December 8, 2022, guests who purchase one day, one park tickets at Disney World
won’t have to make reservations of their own. Florida resort will automatically make
the reservation on their behalf. Multi – day ticket holders still have to make their own
reservation. Can Iger’s return will bring some new development in this regard ? We
have to see.
Genie+ Pricing & Ticket Price Hikes
Recently, Genie+ pricing hit $29 at Disney World. It was only a couple of
months ago when the Florida resort announced that the service would range from
$15 to $22 per day. Also starting December 8, 2022 the Florida resort is raising their
Disney tickets price, specially the one day, one park tickets for most of the parks.
The new price hike is based on park – specific pricing structure for one day one park
tickets, making Magic Kingdom the most expensive park to visit during the holidays. Followed by Epcot and Disney’s Hollywood Studios. Animal Kingdom is the least expensive of them all and maintains the current ticket price.
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