Shareholders lob questions, accusations at Disney brass
Wide range of topics include broken Monorails, lackluster rides and ‘Song of the South’
They could ask whatever they wanted — about theme parks falling short of Walt Disney’s vision or “Song of the South” and how hard it is for Disney employees to find housing — while they got a brief audience with the top Walt Disney Company brass.
Wednesday’s annual shareholders meeting was, at times, a captivating one in which Disney executives were confronted by both questions and accusations.
The two Bobs — Bob Iger, the company’s new executive chairman, and Bob Chapek, the newly crowned CEO as of late last month — played up the company’s successes and defended against criticism on an assortment of topics in front of their shareholders. The first item on the agenda, however, was Iger acknowledging the gravity of the coronavirus while promising the company has a long history of resilience.
Casting ballots at the meeting, a large minority of the company’s shareholders also opposed the company’s executive pay plan, Reuters reported.
One shareholder, a 31-year employee who opened the Indiana Jones show at Hollywood Studios asked what the company is doing to help employees find places to live amid the affordable housing crunch.
“I was just wondering if the board is ever discussing ideas about building a city for cast members to live?” he asked Iger and Chapek.
Chapek acknowledged affordable housing is “particularly hard” to find in Central Florida.
“Conversations like you’re suggesting are ones that we frankly have often, and we know we have the luxury of having some land in Central Florida,” he said.
Another asked Disney to stop holding Gay Pride at the Disney parks.
Chapek refuted that, saying the company values diversity.
“We want to represent our audience,” he said. “We want to tell stories that our audience wants to hear that reflects their lives.”
One man complained about problems with the theme parks, including an aging Monorail fleet that he argued should have been replaced years ago, as well as Toy Story Land, which fell short of expectations after it was built.
“The company was built on Walt’s creativity and Roy’s practicality,” he said. “I’m