Bob Iger is returning to Disney as its CEO, effective immediately, replacing Bob Chapek.
In a stunning turn of events, The Walt Disney Company has reapointed Bob Iger as its Chief Executive Officer after ousting Bob Chapek. Iger has signed a new deal to once again lead the company, with Chapek stepping down from the position.
Disney’s Board and Bob Igger comment on the deal
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said Susan Arnold, Disney’s board chair. “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period. Mr. Iger has the deep respect of Disney’s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide–all of which will allow for a seamless transition of leadership.
Bob Iger added: “I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO. Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe—most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling.”
Under the deal, Bob Iger is set to lead Disney as its Chief Executive Officer for the next two years, with a mandate from the boad to “set the strategic direction for renewed growth.” He also has to work with with the board to find another successor.
During his original tenure at Disney, which lasted more than four decades with fifteen years as its CEO, Bob Iger led the company through its unprecedented acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox. He also launched the Disney Plus streaming service, which currently has more than 160 million subscribers
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