Disney Board Backs CEO Bob Chapek And Top Exec Team Following Peter Rice Ouster

Walt Disney CEO Bob Chapek won praise in many corners in 2020 for ably steering the company through the devastation of Covid after taking the baton from Bob Iger early in that fateful year.

Disney’s public spat with Scarlett Johansson last summer over compensation tied to Marvel’s “Black Window,” which opened day-and-date in theaters and on Disney+ Premier Access for a $30 fee. This was followed by Chapek’s uneven handling of Florida’s “Parental Rights in Education Bill.” Chapek initially aimed to avoid taking a public stance on the controversial bill, dubbed “Don’t Say Gay,” which elicited a backlash from staffers.

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Disney CEO Bob Chapek has gotten a new long term contract as the the board meets this week. Directors voted unanimously to replace his current deal, which expires in Feb. of 2023, with a new three-year agreement starting July 1.

Brent Lang Executive Editor of Film and MediaEmbattled Walt Disney Company chief Bob Chapek got a critical endorsement after the entertainment giant’s board of directors voted unanimously on Tuesday to extend his contract for three years. “Disney was dealt a tough hand by the pandemic, yet with Bob at the helm, our businesses—from parks to streaming—not only weathered the storm, but emerged in a position of strength,” said Susan Arnold, Chairman of the Board.

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Claudia Eller Co-Editor-in-ChiefThe abruptness and timing of Peter Rice’s firing last week by Disney CEO Bob Chapek remains a complete mystery to many, including Rice, I’m told. The move came as a total shock to the industry and to the well-respected media executive, who is unusual in having spent his entire industry career at one studio, 20th Century Fox, and then its successor company, Disney.As everyone now knows, Rice had absolutely no idea what was about to happen when his boss called him into a meeting on June 8, and I hear he was told that Chapek wanted to discuss the Disney board meeting taking place in Orlando later this month, at which Rice was scheduled to make a presentation.Instead, in a conversation that lasted all of seven minutes, Chapek informed Rice that he was letting him go because he wasn’t a good fit for him or the “new culture” at Disney.

In her first public comments since she was elevated to Chairman of Disney General Entertainment, Dana Walden sent a memo to staff Monday morning. In it, she expressed her “immense appreciation to Bob Chapek for giving me this opportunity of a lifetime,” noting that “is enormously proud of what we do.” She also praised Peter Rice, “a gifted executive,” for his mentorship and friendship and highlighted the achievements of each division in the content group’s portfolio.

Hi everyone:I am incredibly sad that this will be the last “weekend read” that I will be sending you. It has been such a pleasure and a privilege to work alongside each of you here at Disney and many of you at 21st Century Fox.I am so proud of the work we have done together, the friendships we have forged and the consistent success we have celebrated.

As Chairman of Walt Disney Television and Co-Chair, Disney Media Networks, Peter Rice had a tradition of sending off his staff for the weekend with “weekend read” memos highlighting show premieres and major milestones for the divisions under his purview and congratulating people on their accomplishments.

Selome Hailu After being ousted from his post as Disney’s head of TV content, Peter Rice sent a final memo to staffers.The news came Thursday morning as a shock to the industry, including many at Disney. Rice is being replaced by his top lieutenant, Dana Walden.View the memo in full below.Hi everyone:I am incredibly sad that this will be the last “weekend read” that I will be sending you.

Peter Rice was known for turning down opportunities to take a public victory lap.The soft-spoken British executive, who was ousted on Wednesday from the top TV job at Disney, has a reputation for quietly cultivating relationships with producers and directors such as Baz Luhrmann and Danny Boyle. In the 2000s, he leveraged those ties to boost the performance of Fox Searchlight Pictures with hits such as “Moulin Rouge!” and “Slumdog Millionaire.” More often than not, Rice let the directors, producers and actors take the bows.That low-maintenance demeanor would serve Rice well in Murdoch’s empire as he became close to the family and rose in 2009 to oversee all of Fox’s entertainment networks.

William Earl After the shocking news that Peter Rice has been ousted as the head of TV content for Disney, and will be replaced by his top lieutenant, Dana Walden, media insiders are left scratching their heads and speculating about the behind-the-scenes dealmaking taking place. For the uninitiated, Variety has put together a primer on the incoming and outgoing heads of Disney television.*Bio:Born and raised in the U.K., Rice’s family was close to Rupert Murdoch’s family, which lead to a Fox film internship in 1987.

shakeup of its TV division.“The strength of The Walt Disney Company’s businesses coming out of the pandemic is a testament to Bob’s leadership and vision for the company’s future,” the board said in a written statement.

The New York Times, his departure is not due to any behavioral issues. In a statement that pointedly does not acknowledge Rice’s years of service, Disney announced that Walden will become chairman of Disney General Entertainment Content, effective immediately.

UPDATED: Disney has confirmed the exit of Peter Rice and the ascension of Dana Walden. Release is below.