Bob Chapek says he never had a chance from the very beginning. This was his first formal interview since being removed from the chief executive role at Walt Disney (NYSE: DIS) in late 2022. After a turbulent 33-month tenure as CEO, he says his predecessor, Bob Iger, was constantly maneuvering behind the scenes and quietly undermining his ability to do the job. Chapek, 67, said in an interview at his home in the Florida Keys: "Honestly, the fact that I lasted three years before being pushed out, rather than being replaced quickly, is itself quite remarkable." Chapek tells the full story in his memoir "Behind the Castle Walls," which will be published next week by Gallery Books. The book covers his early life and career, as well as nearly 30 years at Walt Disney (NYSE: DIS): starting as a director of home video marketing, then overseeing home entertainment, film distribution, consumer products and theme parks, before becoming CEO in 2020.

For interview questions, Iger deferred to a Walt Disney (NYSE: DIS) spokesperson, who declined to comment. Q: Why do you think Bob Iger retired in February 2020 and chose you as his successor? His public explanation inside the company was that he was tired of the administrative minutiae of the CEO role. He hated earnings calls and disliked putting together five-year plans. He also repeatedly complained about his compensation, saying it was low compared with industry peers. But many people told me that a small group knew the COVID-19 pandemic was coming before the rest of the world. And the scale of the pandemic was so enormous that laying off and furloughing 110,000 employees would clearly damage the public image some people wanted to maintain. I have no way to confirm whether those rumors are true. (Iger said in a 2020 interview with The New York Times that there was no hidden reason for his retirement.) Chapek writes that on the day of the power transition, when the two appeared together in an interview, Iger was cold, angry and visibly downcast. In April of that year, New York Times columnist Ben Smith reported that Iger, then executive chairman, effectively took back control of Walt Disney (NYSE: DIS) because of the pandemic. Iger told Smith at the time that the pandemic forced him to "step in and help Bob (Chapek) and the company get through it."

Q: Looking back now, was there any possible path that would have allowed you to avoid being fired? I think the ending was inevitable. The signals sent at the appointment announcement were already clear enough; and when he gave that interview with Ben Smith, effectively declaring he was taking back the reins, that was the strongest signal of all — he was finding ways to undermine my authority. Q: You write in the book that you saw that column while at a party with family and friends celebrating your appointment as CEO? I was holding a glass of red wine and thinking about the future when someone suddenly sent me a message saying they had seen the article. I simply could not believe it. Q: During your time as CEO, were there any decisions you regret? I made a mistake when I took over: following the advice of key board members, I let Iger remain deeply involved in managing creative content. That gave him the ability to step into anything at any time and talk to anyone. At the time I did not realize how serious the potential harm of that arrangement was. Many matters that were clearly within my authority were instead handled in separate meetings, with him giving instructions. Q: Can you give an example? The "Black Widow" incident is a typical one. In July 2021, Scarlett Johansson sued Walt Disney (NYSE: DIS). At the time, the Marvel film "Black Widow" was released simultaneously in theaters and on streaming, and Johansson believed this violated her contract. Walt Disney (NYSE: DIS) issued a public statement calling the lawsuit "sad and distressing in its callous disregard for the horrific and prolonged global effects of the COVID-19 pandemic." The statement was seen in Hollywood as a major public relations disaster. The case was eventually settled. Chapek says the statement was written by Walt Disney (NYSE: DIS)'s head of corporate communications and ultimately approved for release by Iger.

Caption: A still from "Black Widow" featuring Scarlett Johansson and Florence Pugh | Jay Maidment, AP Q: Did you have no say in the matter at the time? The arrangement at the time was: "Bob Iger handles creative and talent affairs." I was reminded many times to give him enough space in that area, and was told, "Only after he leaves will it be your turn to oversee that part of the business." Q: What was your own view at the time? I thought the company's wording was too harsh. Arguing on the basis of COVID-19 was a very unusual way to handle it. In March 2022, three months after Iger stepped down as executive chairman, a Florida bill sparked protests among Walt Disney (NYSE: DIS) employees; the bill restricted instruction on sexual orientation and gender identity in certain grade levels. Opponents called it the "Don't Say Gay" bill. Iger posted on social media that the bill would "put vulnerable, young LGBTQ people in jeopardy." Chapek initially said that companies speaking out against legislation could be counterproductive. Four days later, he reversed course, apologized, promised to support the LGBTQ+ community better, and announced a pause on political donations in the state.

Q: Do you think apologizing for your initial statement was a mistake? It was a mistake. I was forced to apologize. Q: Who forced you? A force greater than myself. Q: Can you be more specific? No. Q: Was it out of legal concerns? Or not wanting to get drawn into another political controversy? Both. Q: Did Iger's statement have a big impact on your ability to do your job? A huge impact. His statement deftly aligned himself with the creative community that I was trying to win over. Remember, for the first year and a half of my tenure I could only hold Zoom meetings online, and I had no way to build relationships in person. And the people in the creative community were all acquaintances he could contact at any time. If the New York Times article was the first heavy blow, then the "Don't Say Gay" tweet was the second. In June 2022, the Walt Disney (NYSE: DIS) board unanimously approved a three-year contract extension for Chapek. In November of the same year, earnings disclosed that losses in the streaming business had peaked at $1.5 billion, and Walt Disney (NYSE: DIS) shares fell sharply. Two weeks later, Chapek was ousted and Iger returned as CEO.

Q: How do you explain the situation deteriorating so rapidly within just five months? In most quarters, the company's profit exceeded Wall Street expectations. In that one quarter, we merely delayed the timing of peak Disney+ losses, and this was heavily reported. That became the opportunity (Iger) had been waiting for. There would not be another opportunity, because afterward I said Disney+ would become profitable at some point, and indeed it did. Q: Critics accused you of downplaying the seriousness of the quarter's miss. They said you talked a lot about theme park parades, as if you were ignoring the performance problems. On every Walt Disney (NYSE: DIS) earnings call, we always talk about some softer topics that fans are interested in. Of course it is less important than the financial data. But somehow this was used as evidence that I underestimated the performance shortfall, and then became a reason to fire me. That is absurd. Q: Setting aside the power struggle with Bob Iger, how do you hope history will judge your CEO tenure? I hope people remember this: I took over during the most difficult period in the company's history and did an excellent job saving the company. At the time, there had been no revenue for two years, the Fox acquisition had brought enormous debt, and social turmoil was layered on top of that; Walt Disney (NYSE: DIS) was almost on the brink of crisis. I spent three years paving the way for the company's success, so that after the dust settled it would be easier for someone else to take over. Q: Have you been back to Walt Disney (NYSE: DIS) World since leaving? Do you think you will go in the future? No. Q: That sounds pretty regrettable, doesn't it? Very regrettable. Even before I joined Walt Disney (NYSE: DIS), this place was already part of my life. But I feel deeply disappointed, and my ideals have been completely shattered. Nothing is absolute, but seeing them try so hard to erase the history of my time as CEO makes it hard for me to feel like riding "it's a small world" again. This interview has been edited and condensed for clarity.