If experts are right, it would seem that Bob’s still your uncle in the quest to find a new leader of the band for The Disney Company. Disney Parks Chief, Bob Chapek, Might Be Bob Iger’s Successor. After what seemed like an obvious succession plan failed last year when heir apparent Tom Staggs left the company, Disney was left with the difficult task of finding a new chief.
Staggs was seen as the likely successor after being given his promotion to COO in February 2015, more than two years in advance of Iger’s then-scheduled retirement. But last year he stepped down after being told the board had lost confidence in him.
There are quite a few options out there, but it seems Disney may be focusing on a business-unit strength — the Parks division — in picking Bob Iger’s CEO replacement. Bob Chapek has delivered steady returns at the helm of Parks and Resorts, the only one of four units to post an increase in sales and profits for the past fiscal year.
Chapek joined Disney after working in marketing at H.J. Heinz Co., the food-processing company, and at agency J. Walter Thompson. At Disney, Chapek reorganized the consumer-products division, cutting jobs and focusing the business on brands rather than lines of merchandise.
Chapek’s also worked in the film studio and in consumer products and has emerged as a key contender to take over when Iger departs in July 2019. Iger extended his contract in March) Iger’s postponed his retirement three times with contract extensions but says the latest is the last.
At the parks division, Chapek has focused on pricing, introducing a tiered system of tickets that cost more during peak times and eliminating some annual passes. He’s searched for ways to get patrons to pay extra for perks such as nighttime events and passes to get to the head of the line in the company’s California parks.