Disney Insiders, Hollywood Execs Stunned at How Bob Chapek Ousted Peter Rice
One of the most powerful executives in media was meeting with a group of
people the morning of June 9 when he heard the news that Disney CEO Bob Chapek
had abruptly fired chairman of entertainment and programming Peter Rice.
“Chapek just made another massive mistake,” this exec announced.
The market may have agreed: Disney stock fell nearly 4 percent as the news
became public, a larger decline than the market as a whole on Thursday.
Chapek’s decision to fire a long-standing and well-respected executive in the
most unceremonious possible manner set off waves of bafflement and, for many, outrage
from the uppermost circles of Hollywood power to lower-echelon players.