Go woke; go broke.
In a statement delivered late Sunday, Walt Disney Media Company CEO Bob Chapek officially stepped down from his role to allow former chief Bob Iger to return as chief.
Iger stepped down as CEO in February 2020 but will be back “to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term,” read the statement on behalf of the company’s board of directors.
The move was unexpected, considering Chapek’s multi-year extension signed earlier this year; nonetheless, the “Mouse”‘s recent financial hiccups were reason enough for Chapek to get the axe.
Iger’s Back After A Failed Run By Chapek
As relayed by The Hollywood Reporter, Iger has returned as Disney’s CEO as the company struggles to match its profits from years past — largely due to alienating younger audiences and parents alike with its content’s direction.
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” announced Susan Arnold, chairman of Disney’s board of directors.
The statement added, “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.”
One of Disney’s most recent “bombs” that could have pressured the company to nix Chapek was the steep drop-off in box office performance from the latest Marvel Cinematic Universe release, Black Panther: Wakanda Forever.
Marketed as the grand, emotional send-off to Chadwick Boseman — the actor behind the eponymous T’Challa / Black Panther character, who succumbed to colon cancer in 2020 — Wakanda Forever‘s performance drastically underperformed compared to the first Black Panther movie.
The movie’s box-office draw saw a steep 63 percent decline from its opening weekend to its second weekend total, making it the fifth-highest second-week drop for a Marvel movie in the highly profitable franchise’s history.
In 2020, Iger expressed his interest in becoming then-President-elect Joe Biden’s ambassador to China. Iger’s ties to China have largely been based on the box-office success of MCU movies in the Chinese market. Recently the Mouse has struggled to get their titles released in China, taking out a chunk of their potential box-office draw as more of their content includes LGBT themes and relationships, which are outlawed for audiences in the foreign market.
Wakanda Forever and Disney’s upcoming animated release Strange World — which feature an teenage same-sex relationship — have been banned by the Chinese Communist Party. Disney has edited new releases to appease the CCP’s content moderation.
With more Disney content than ever promoting same-sex relationships and other mature themes for children, the company’s failures deepen with no clear solution until they decide to take a new direction with their content. People are clearly fed up with Disney’s woke outlook.
Is this a step in the right or wrong direction? Let us know in the comments.