Bob Iger Allegedly Said Disney Was "Losing Its Soul" With Bob Chapek As CEO

On Sunday evening, the Walt Disney Companyannounced that current Chief Executive Officer of Disney, Bob Chapek, 62, would be stepping down from his position, and Robert A. Iger, 71, would return to run the company. The move would be effective immediately.

According to reports, Bob Iger has signed a two-year contract “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.”

In a new report from the New York Times, Bob Iger reportedly spoke out to different colleagues regarding Bob Chapek and the Walt Disney Company while he was CEO, even going as far as saying Disney was "losing its soul" with Chapek in as CEO.

"[Bob Iger] lamented what he said was Mr. Chapek’s seeming lack of empathy and emotional intelligence, which resulted in an inability to communicate with or relate to Hollywood’s creative community. Disney seemed to be losing its soul, he confided to one associate," their report stated.

In addition, Iger reportedly never heard from Disney for help after the company received backlash due to Chapek not taking a strong stance against Florida's new "Don't Say Gay" law. 

The bill states that “classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age appropriate or developmentally appropriate for students in accordance with state standards.”

Per the New York Times:

Perturbed about Mr. Iger’s trash talk, which made its way back to Disney headquarters, the headstrong Mr. Chapek responded by icing Mr. Iger out — rather than turning to him for advice. Mr. Iger, for instance, never got a call for help when Disney was criticized internally and externally this spring over its approach to legislation in Florida meant to prohibit classroom discussion of sexual orientation and gender identity through the third grade.

The news broke shortly after Bob Iger sent out an email to Disney employees, saying “It is with an incredible sense of gratitude and humility -and, I must admit, a bit of amazement -that I write to you this evening with the news that I am returning to The Walt Disney Company as Chief Executive Officer.”

Iger continued to explain that more details will be released in the day to come but, in the meantime, expressed his “deep gratitude for all that [Disney Cast Members] do.”

He wrote, “Disney holds a special place in the hearts of people around the globe thanks to you, and your dedication to this company and its mission to bring joy to people through great storytelling is an inspiration to me every single day.”

The news of Bob Iger returning and Bob Chapek stepping down comes just days after Chapek said he planned to cut costs at the company and after the company’s earnings underperformed Wall Street’s expectations.