Disney’s Bob Iger: ‘We’re All Sobered’ By Global Coronavirus Crisis

Disney executive chairman Bob Iger opened Disney’s annual meeting in Raleigh, N.C., on Wednesday with an acknowledgement of the challenges presented by the coronavirus crisis while also trying to assure investors that the company is strong enough to withstand a downturn in business.

“We’re all sobered by the concern that we feel for everyone affected by this global crisis,” Iger said. He emphasized that Walt Disney Co. has survived other crises over its nearly 100-year history.

“What we’ve demonstrated repeatedly is that we are incredibly resilient,” Iger told the crowd at Duke Energy Center for the Performing Arts. “Our future has always been bright and remains so for good reason. What we create at the Walt Disney Company has never been more necessary or more important.”

Iger also introduced his successor as CEO, Bob Chapek, who is the sixth person to serve as chief executive of Disney. Chapek, a 27-year Disney veteran who most recently headed its parks division, told shareholders he has “been a Disney fan my whole life.” Disney surprised the business world by handing the CEO reins to Chapek on Feb. 25, when Iger shifted to executive chairman focusing on the company’s creative operations.

Iger had some movie news for the audience, disclosing that Disney has cut a deal to handle theatrical distribution of Jackson’s documentary on the making of the Beatles’ “Let It Be” album at a time of great turmoil for the legendary band. “The Beatles: Get Back” will be released on Sept. 4. Iger called the film “a front row seat to a seminal moment in music history.”

Meanwhile, Chapek announced that the long-planned “Avengers Campus” attraction at Disney’s California Adventure is set to open July 18.

More to come