Former Disney CEO Bob Igor who guided Disney as it became an entertainment behemoth, announced he was stepping down to let Bob Chapek take the reigns. But now, as Disney closes parks and hotels worldwide in the face of the COVID-19 (coronavirus) threat, Iger isn’t going to be able to take the backseat so easily, the New York Times has reported.
Iger wrote in an emailed response to Smith: “A crisis of this magnitude, and its impact on Disney, would necessarily result in my actively helping Bob [Chapek] and the company contend with it, particularly since I ran the company for 15 years!”
Disney is the most exposed major media company during the coronavirus pandemic due to its revenue from parks, movies, and advertising, according to a recent report from Wall Street firm UBS. Disney has pushed back most of its 2020 theatrical releases and closed its parks. Disney World in Florida will furlough 43,000 employees starting April 19, the workers’ union said on Saturday.