Disney chief financial officer Christine McCarthy said she lacked confidence in CEO Chapek before his ousting
Dissatisfaction with former Walt Disney CEO Bob Chapek had spread among senior executives – and the executive was described as deaf in a recent conference call.
Disney Chief Financial Officer Christine McCarthy told investors she lacked confidence in Chapek after a Nov. 8 conference call about the company’s worse-than-expected quarterly loss of $1.5 billion related to its streaming service. streaming Disney+, reported the Wall Street Journal.
Despite the financial pitfall, Chapek sounded optimistic and insisted the company was “on the path to a profitable streaming business that drives long-term shareholder value.”
On Friday the following week, Disney executives were considering whether Iger would return to his 15-year old job in order to replace Chapek, the newspaper reported.
Disney Board Chair Susan Arnold called Iger and asked if he would consider returning to run the Mouse House again, people with inside knowledge told the Journal.
Intense negotiations between the sides unfolded over the weekend and on Sunday evening the surprise announcement that Chapek had resigned and Iger was taking over the helm made headlines.
On Sunday, the company announced it was bringing back longtime CEO Bob Iger as CEO to replace his successor.
New York Post