Ex-Disney CEO Bob Chapek has a New Corporate Gig

Poor Bob Chapek. In a way, he was made the scapegoat for several plans Bob Iger put into effect before Chapek took over the CEO role at the Walt Disney Company in 2020; regardless of how his performance, the former executive has found his way into a new corporate gig.

Business Wire reports that Bob Chapek has landed on his feet since departing Disney in 2022. Rather than returning to H.J. Heinz Company, Chapek has decided to join the Board of directors at Masimo.

At first, I thought it said Mossimo, the big t-shirt company in the 1990s. That’s quite a departure, but it would have been a bit more interesting than the reality of the situation.

However, Chapek’s new role is at a medical technology company. Masimo produces several hospital devices, such as oximeters, patient monitoring, CO2/gas monitoring, brain function monitoring, capnography, etc. 

Masimo’s current stock value is $120.10 per share as of this morning. However, the company’s website has yet to announce Bob Chapek’s new role on the Board of directors. 

The company’s CEO, Joe Kiani, did say the following regarding the new hire:

“We are honored to have Bob join the Board. As we execute our hospital to home strategy, we expect to benefit greatly from Bob’s role on our Board.“

You may think jumping into a health tech company may be an odd move for a former Disney executive, but it’s fitting. Chapek graduated from Indiana University Bloomington with a degree in microbiology.

As far as what Chapek thinks about this new chapter in his professional life, he did have this to say:

“I am thrilled to join the Masimo Board. I look forward to helping advance the company’s growth by leveraging their core technologies in the consumer and consumer health spaces.”

Hopefully, Bob #2 won’t have to contend with the same strangeness he found at Disney earlier this decade. We wish him the best.

[Source: Business Wire]