The Palace Coup at the Magic Kingdom

The inside story of how Bob Iger undermined and outmaneuvered Bob Chapek, his chosen successor, and returned to power at Disney.

At 5 p.m. on Feb. 25, 2020, Bob Chapek and Bob Iger settled into matching directors’ chairs on the Disney studio lot for a series of live media interviews. The company had just shocked pretty much everybody by announcing that the little-known Mr. Chapek would be replacing the wildly popular Mr. Iger as chief executive.

The bald and stocky Mr. Chapek and the graying but still debonair Mr. Iger struck an immediate contrast, even though both were dressed in navy suits and open-collar white shirts and both were named Bob. To avoid confusion, some referred to them as “Bob One” and “Bob Two,” or “Big Bob” and “Little Bob” (even though Mr. Chapek was taller and heavier). And then there was “Handsome Bob” and “Boring Bob.”

In an interview with Julia Boorstin of CNBC, Mr. Chapek fawned over his predecessor. “I obviously have huge shoes to fill,” he said with wide eyes, hailing Mr. Iger’s “magic” running Disney. Mr. Iger’s 15-year tenure as chief executive had been so successful that he had considered running for president as a Democrat. Queen Elizabeth II knighted him just before she died.

Mr. Iger said he and Mr. Chapek had worked together “extremely well,” but in the next breath qualified that praise: “Actually, our senior management team has worked together quite well.”

Mr. Chapek listened in vain for something more effusive, more personal.

As the questions — and the attention — shifted entirely to Mr. Chapek, Mr. Iger’s usually relaxed demeanor stiffened. His gaze shifted down, away from Mr. Chapek, and he looked increasingly uncomfortable. He crossed his arms.