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Walt Disney CFO, Others Brought Concerns to Board Over Bob Chapek


Finance head Christine McCarthy told directors of her lack of confidence in the CEO after a calamitous November earnings call

Walt Disney Co. replaced CEO Bob Chapek with Robert Iger, the company’s former chairman and CEO. WSJ’s Robbie Whelan explains what happened at the company to precipitate the sudden move and what challenges lie ahead. Photo: Chris Pizzello/AP

Behind the surprise change in leadership at Walt Disney Co. on Sunday was festering discontent among investors and top executives including Chief Financial Officer Christine McCarthy, who in recent weeks had expressed to directors her lack of confidence in Chief Executive Bob Chapek, according to people familiar with the matter.

Disney executives and investors had been complaining for months to the prior CEO, Robert Iger, about the direction of the company under Mr. Chapek, according to people familiar with the matter. Mr. Iger advised some of these executives to take their concerns to the company’s board, some people familiar with the matter said.

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