Sunday night surprise! Disney, DIS, unexpectedly replaced its CEO, Bob Chapek, with a former CEO, Robert Iger, who retried 2 years ago.     

Bob Chapek, we think, has become a latest victim of the toxic political climate, he initially wanted to stay out of politics and didn’t want to publicly get involved when the Florida Legislature passed ‘DON’T SAY GAY’ bill in March, 2022, but the company’s LGBTQ employees forced his hand by staging walkouts, when he addressed the issue that angered the Florida’s Right Wing Legislature. It was a lose, lose situation to begin with and the man, unfortunately, has lost his job!

We believe companies have no business getting involved in politics of any kind, right or left, period!   

Why Fortune 500 Companies Recycle CEOs  

Star Bucks has done it twice! And now Disney. Does it mean these companies don’t have a deep bench or not willing to take a chance? Hard to tell. Markets like a proven, steady hand in the time of crisis, but it exposes company’s weakness, lack of a succession plan and angers executives who are second/third in line to succeed the CEO.  

Who said, No Country for Old Men? Old Men Run America!