In a shocking turn of events, Bob Iger has been forced to resign as CEO of Disney following the underwhelming box office performance of the live-action remake of “Snow White,” which has drawn significant backlash. The film, starring Rachel Zegler, grossed a mere $160 million worldwide, a stark contrast to the over $300 million earned by the recently released “Minecraft” movie. This disparity has highlighted the escalating issues within the Walt Disney Company and fueled discontent among board members.

Iger’s handling of the “Snow White” situation, particularly the controversies surrounding its production and casting, has been criticized as inadequate. The fallout from the film’s release has led to intense scrutiny from Disney’s board, with many members reportedly losing faith in Iger’s leadership. In a desperate bid to regain control, Iger proposed extending his tenure until 2028 and suggested a complete overhaul of the “Snow White” project to eliminate perceived agendas. However, these proposals were met with skepticism, and approximately 80% of the board members rejected them.

Facing mounting pressure from shareholders and a declining subscriber base for Disney+, the board is now moving swiftly to finalize Iger’s exit. The urgency is underscored by a series of failures across Disney’s properties, from streaming content to theatrical releases, which have eroded the company’s standing in a competitive landscape dominated by studios like Paramount and Warner Brothers.

As Disney seeks a new CEO who will approach diversity, equity, and inclusion (DEI) initiatives with greater caution, the board’s decision to part ways with Iger marks a significant shift. The company aims to recover from its recent missteps and re-establish itself as a leader in the entertainment industry. With a new leadership transition on the horizon, the future of Disney hangs in the balance as it grapples with the fallout from the “Snow White” debacle and the broader implications for its brand.