Hollywood loves a dramatic story. Disney stock soared 10% on the news the board made a tough, unexpected, and dramatic change of top leadership. Having been in personal contact through the succession, up until this weekend with both returned Bob Iger and fired CEO Bob Chapek, I am certain that the board’s move was a surprise to them, as well as to other company insiders and to the public.
The drama behind the removal of Disney's chief executive and replacement by his mentor Bob Iger has been portrayed as a saga unique to Hollywood, right out of a script from TV hits such as “Succession” or “Game of Thrones.” However, the board’s sudden action was not an impulsive showbiz reflex.
