Uncertainty looms around Disney’s future as Bob Chapek and Bob Iger fall out.

Former Disney CEO Bob Iger's relationship with his hand-picked successor, current Disney CEO Bob Chapek, started to crumble on April 12, 2020.

It came as a sudden shock to the world when Iger decided to resign with immediate effect in February 2020. Chapek was chosen as his replacement, whom Iger and the board considered to be the right person to fill the position.

Considering the fact that he had garnered a lot of experience and had been with the company for a long time.

Iger on the other hand wasn’t just going to leave it all up to Chapek to figure out, he was going to stick around as executive chairman and direct the creative endeavors of the company to ensure a smooth transition.

A CEO replacement at probably the world's most recognized entertainment company could not have come at a worse time. Weeks after Iger made his decision to step down, Disney began to close its theme parks around the world to comply with the regulations during the earliest stages of the COVID-19 quarantine.

On March 11, 2020. Just before the company announced it will begin closing its parks, the corporation had its annual shareholder meeting, where Iger said “I can’t think of a better person to succeed me in this role.”

With high hopes in response to the faith shown towards him by Iger, Chapek said “I’ve watched Bob (Iger) lead this company to amazing new heights, and I’ve learned an enormous amount from that experience.”

The New York Times columnist Ben Smith published an article a month later after reaching out to Iger by email, while everyone remained indoors owing to the coronavirus pandemic.

Iger made it known that he wasn’t going to abandon Chapek to face the prevailing crisis and he was going to help see to the progress and stability of the company.

In his email sent in response to Smith, he said “A crisis of this magnitude, and its impact on Disney would necessarily result in my actively helping Bob (Chapek) and the company contend with it, particularly since I ran the company for 15 years!”

According to three sources acquainted with the situation, Chapek was enraged when he saw the news. He never made it known that he couldn’t handle the situation, or he needed any form of assistance.

On three different occasions, Iger has postponed his plans to retire, and with such a statement made by him, Chapek felt he was on to the same thing, which was quite frustrating to him.

According to sources familiar with the situation who talked with CNBC concerning this situation, Iger and Chapek haven't been able to rebuild their relationship since that occurrence.

Iger hosted a going-away party late last year, weeks before stepping down as executive chairman, this saw him invite more than 50 guests to his home in Brentwood, a Los Angeles suburb.

As he engaged his guests, he shared memories, talking about his time and the experiences he had at Disney. Chapek was among the guests to grace the occasion but according to sources who were present at the event, there was little interaction between himself and Iger.

Iger and Chapek sat at tables across from one other. According to the witnesses, while Iger spent around 10 minutes publicly complimenting former colleagues, he scarcely acknowledged Chapek.

One of the guests said “It was extremely awkward” also stating “The tension was palpable.”

At the event, they both refused to speak about their relationship with each other.

The choice of Chapek to distance himself from Iger was bold but it put him on his own, separating him from a Disney icon who is a chairman of the company and a major shareholder.

The rift between himself and Iger has also made him unable to reap the benefits of Iger's extensive network built over decades at Disney.

Chapek's public admittance that he let Disney employees down by not pushing harder against Florida's "Don't Say Gay" legislation this month served as yet another reminder to those who are loyal to Iger that Disney's reputation could be jeopardized with Chapek in charge.

Iger on the other hand had taken a public stance against the bill just weeks before.

Employees at Disney have been enraged by the lackluster execution. According to Deadline, numerous longtime Disney employees told the publication that Chapek's handling of the incident resulted in "the worst week they've ever worked at the company."

According to two people familiar with the situation, several Disney employees have called Iger in recent weeks to voice their unhappiness in Chapek.

CNBC had reported that Chapek met with Disney creative leaders earlier this month to enable them to express their reservations about his approach to the legislation.

While public scandals grab headlines, Chapek's internal adjustments, and how successful they are, are more likely to define his future as Disney's CEO.

With the current tension between Chapek and Iger, investors are uncertain about the extent of such a rift, seeing a drop of about 2% in Disney stock as of 21, March 2022.