By Maddypower
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4 min read
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February25,2020,4:15am.BobChapek'salarm goesoffand10minuteslaterheisridingonhis Pelotonbicycle,whilewatchinganew3Dcomputer-animatedvideowithvirtualrealityheadsets.Aftera quickshower,BobChapeksummonshiswhiteTeslaModelXwithdarktintedwindowsfrom thegarage tole thecardrivehim onhis30-minutecommutetoDisney'sBurbank,CA,office.Whilerelaxingduring theca ride,histhoughtsturntothebigannouncementlaterthisafternoon,withhim beingnamed Disney'snewCEO,effectiveimmediately.Employees,investors,andaltheotherDisneystakeholders wilhavealotofquestionsabouthisfuturevisionforDisney . With$60bilioninannualrevenuesin2019,TheWaltDisneyCompanyisoneoftheworld'slargest mediacompanies.Asadiversifiedmediacompany,Disneyisactiveinawidearayofbusines activities,from moviestoamusementparksaswelascableandbroadcastelevisionnetworks(ABC, ESPN,andothers),cruises,retailing,andstreaming. TheNewCEOwilneedtoimplementmultiplestrategicinitiativesthatwereputinplacebyBobIger, hislarger-than-lifepredecesoratDisney,whospentalmost50yearswiththecompany,andthereof15 yearsasCEO.Disneyclosedits$71.3bilionacquisitionof21stCenturyFox'sentertainmentasets,or itslargestacquisitionever,inMarch2019.2AspartoftheFoxandotherdeals,Disneygained controlingownershipofHulu,astreamingservice.Disneyisalsorolingoutitsownnewstreaming servicecaledDisney+inNovember2019,thusmovingintothedirect-to-consumerspace.In September2019,Appleannouncedisnewstreamingservices,AppleTV+.OnthedayoftheApple announcement,Ige resignedfrom Apple'sboardofdirectorsduetoaconflictofinterests.Igeralso announcedthatDisneywilpulmostofitsmoviesfrom Netflixby2020. AnotherchalengeismanagingthegrowingportfolioinDisney'sStudioEntertainmentdivision,asit operatesmorethansevenmoviestudios,includingWaltDisneyPictures,WaltDisneyAnimation,Pixar, Marvel,Lucasfilm,21stCenturyFox,Fox,andBlueSky.Asaresult,Disneyhasoutlinedplansfor roughlyadozenmovieseachyearthrough2022. DuringIger'stenureasCEO,Disneyhasperformedwelintermsofstockpriceappreciationand financials(Exhibit1andExhibit2).Yet,Igerhasdelayedhisretirementfrom Disneyfivetimes.Each timehehasleverageddelayingretirementintohigherpay,whichin2018was$65milion,makingIger…