Disney backs Chapek in wake of Rice firing
June 10, 2022
Disney CEO Bob Chapek has the “support and confidence” of the company’s board of directors, according to Chair Susan Arnold. The backing came as Chapek dismissed top TV executive Peter Rice less than a year after he signed a contract renewal. His number two, Dana Walden, is replacing him.
Rice came to Disney via the $71.3 billion acquisition of most of 21st Century Fox, and had been in the running for the Warner Bros Discovery top job until he withdrew from consideration.
The FT reported the firing came because Rice was not considered ‘a good fit’ for the Disney corporate culture. His replacement also came in with the Fix buy.