Chapek Blames Iger for Disney Downfall, Stands by Theme Park Price Hikes
Bob Chapek, the former CEO of Disney, has released a memoir where he defends his decision to increase prices at the company's theme parks and blames his predecessor and successor for his ousting. In 'Behind the Castle Walls: My Thirty Years at the Happiest Place on Earth,' Chapek claims that Bob Iger had told people in Hollywood that he was shutting him out, leading to Iger being blamed for Chapek's dismissal.
Chapek argues that he didn't get a chance to finish his work and is hurt by his reputation being damaged after his abrupt departure. He also credits himself with the rise of current Disney CEO Josh D'Amaro, who worked under him at the Parks division.
The theme park price hikes led to growing dissatisfaction among fans and accusations of pricing out families and once-in-a-lifetime vacationers. Chapek writes that they 'had been leaving revenue opportunities on the table to avoid stirring the hornet's nest.'
Chapek has been relatively quiet since his departure, aside from a brief stint on the board of Masimo. In contrast, Iger has rejoined Joshua Kushner's Thrive Capital and now has a controlling stake in the Los Angeles Lakers after purchasing the franchise for $12.5 billion.