Bob Chapek is speaking out.
The Disney addressed the company on Tuesday (September 22) at the Goldman Sachs Communacopia Conference amid the lawsuit from Scarlett Johansson regarding Black Widow‘s release in theaters and on Disney+, which the actress alleged was a breach of contract.
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Simu Liu, the star of the upcoming Marvel movie Shang-Chi and the Legend of the Ten Rings, is firing back at a comment made by the CEO of Disney.
Bob Chapek had an earnings call with investors this week and he said that the movie’s theatrical release will be “an interesting experiment for us.”
Chapek is referring to the 45-day theatrical window that Shang-Chi will be receiving. The film will not be available on Disney+ Premier Access during this time, despite the studio previously releasing movies that way during the pandemic.
“The prospect of being able to take a Marvel title to the service after going theatrical for 45 days will be yet another data point to inform our actions going forward on our titles,” he said.
Simu is not happy that Shang-Chi is being referred to as an “experiment” for Disney.
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The current CEO of Disney, Bob Chapek, is speaking out in response to the controversy surrounding the company’s hybrid movie release model.
The company has been releasing movies in theaters and on Disney+ Premier Access throughout the pandemic and Scarlett Johansson decided to sue the studio for releasing Black Widow that way.
During an earnings call with investors, Chapek talked about the new release strategy and how they’re compensating talent, though he never brought up Scarlett by name.
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Bob Iger will be forgoing his entire salary amid this worldwide health crisis.
The Walt Disney Co. announced that the 69-year-old executive chairman will no longer be paid during the current situation, and recently named CEO Bob Chapek will be taking a 50% pay cut, according an email from the CEO obtained by The Hollywood Reporter.
Other top Disney executives will also be taking salary cuts during this difficult time.
“As we navigate through these uncharted waters, we’re asking much of you and, as always, you are rising to the challenge and we appreciate your support,” Bob Chapek wrote in his email. “Your dedication and resilience during this difficult time are truly inspiring and it gives me renewed confidence that will we come through this crisis even stronger than before, we have so many times in our company’s history.”
In 2019, Bob Iger’s compensation package totaled $48 million, mostly in stock and bonuses tied to the Disney’s strong performance.
Since becoming CEO, Bob Chapek is in line to earn $2.5 million in salary plus bonuses of up to $22.5 million.
News of the pay cuts comes after Disney announced that they will be keeping all North American theme parks closed until further notice.
Bob Iger has made the surprise announcement that he is stepping down as the CEO of Disney, earlier than many have expected.
It has been known for some time that Iger was preparing to step down and Hollywood has been wondering who would succeed him for quite a while now.
Iger‘s contract with Disney is through December 31, 2021 and he will remain with the company as chairman and he will continue to lead the company’s creative endeavors.
Bob Chapek, who was the chairman of Disney Parks, Experiences, and Products, is stepping into the role of CEO effective immediately.
“With the successful launch of Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO,” Iger said in a statement. “I have the utmost confidence in Bob and look forward to working closely with him over the next 22 months as he assumes this new role and delves deeper into Disney’s multifaceted global businesses and operations, while I continue to focus on the Company’s creative endeavors.”
It has been reported that Chapek‘s salary has been increased to $2,500,000 a year.
“I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees,” Chapek said in a statement. “Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team. I share his commitment to creative excellence, technological innovation and international expansion, and I will continue to embrace these same strategic pillars going forward. Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation and thoughtful risk-taking.”
Iger was named the CEO of Disney in 2005 and his annual pay for 2019 was a whopping $47.5 million.
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