THE DISASTER THAT is streaming just took its first high-profile scalp. Bob Chapek was removed as CEO of The Walt Disney Company in November, and one of the reasons for his departure is surely the $1.5bn loss at Disney's direct-to-consumer (DTC) division, the home of Disney+, Hulu+ and others. In a twist worthy of one of Disney's reboots, the legend that is Bob Iger has been brought back to sort out the mess the company is in at the moment.
It's interesting that most of the issues and disasters that befell Chapek seem to be time bombs left by Iger from his previous reign. Iger was a master for the first half of his 2005-2020 tenure, but the second half was plagued by interference from major Disney shareholders. The term 'ESG' - Environmental, Social, Governance - has put the fear of God into many corporations, as venture capital becomes about more than just profit and loss, but also about social change. Disney has been on the fast track when it comes to this.
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