At Corporate Pep Rally, Disney CEO Pitches Warmer, Fuzzier Side

In June, Mr. Chapek abruptly fired Disney’s top television executive, to howls of disapproval from Hollywood. In August, the activist investor Dan Loeb pushed Mr. Chapek to consider a range of changes, including shaking up the board and spinning off ESPN. (On Sunday, Mr. Loeb backtracked on a spinoff, saying on Twitter that he had learned more about Disney’s “growth and innovation plans” for ESPN.)

All the while, some of Disney’s most dedicated theme park customers have been growing indignant over price increases they see as nickel and diming. Last month, Disney told investors that theme park profits would have been even higher if not for an “unfavorable attendance mix” at Disneyland, which annual pass holders took as an affront. T-shirts, mugs and stickers began selling online bearing the word “Unfavorables” in Disneyland’s signature calligraphy.

Hence the effort to use D23 Expo to polish Mr. Chapek’s terrible, horrible, no-good, very-bad image.

Mr. Chapek’s attempt at a brand overhaul can be attributed, partly, to Kristina Schake, who joined Disney as chief communications officer in April. Ms. Schake, who previously helped recast public images for political figures, including Michelle Obama and Hillary Clinton, was attached to Mr. Chapek’s hip as he traversed the more than one million square feet of the D23 Expo. (She brought eight pairs of shoes.)

Ms. Schake convinced him to keep his beard after noticing that he had grown one on vacation. Detractors in Hollywood have snidely suggested that the outcropping makes Mr. Chapek resemble Thanos, the Marvel supervillain. But GQ magazine has given its blessing, with a headline on Friday saying that Mr. Chapek was “rocking the rare corporate power beard.”

D23 is a reference to 1923, the year Walt Disney arrived in Hollywood. The event is both awe-inspiring and terrifying to witness because it showcases how deeply the company’s products, mythmaking and characters are woven into the cultural fabric. One area is dedicated to Disney’s television operation, which has 300 television shows in production. Disney has a new residential housing business. It owns National Geographic. With resorts in Europe, China, Florida and California, the sun never sets on a Disney theme park.

Article source: https://www.nytimes.com/2022/09/11/business/media/bob-chapek-disney-expo.html