Bob Iger returns to Disney as CEO, effective immediately, replacing Bob Chapek.
In a stunning turn of events, The Walt Disney Company reappointed Bob Iger as CEO after ousting Bob Chapek. Iger has signed a new deal to lead the company again, with Chapek stepping down from his role.
“We thank Bob Chapek for his service to Disney over his long career, including guiding the company through the unprecedented challenges of the pandemic,” said Susan Arnold, Chairman of the Board of Directors. from Disney. “The Board of Directors has concluded that as Disney enters an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company through this pivotal time. Mr. Iger has the deep respect of the Disney leadership team, most of whom he worked closely with until his departure as Executive Chairman 11 months ago, and he is highly admired by Disney employees worldwide, which will allow for a seamless transition of leadership.
Bob Iger added, “I am extremely optimistic about the future of this great company and delighted that the board has asked me to return as CEO. Disney and its incomparable brands and franchises hold a special place in the hearts of so many around the world, and especially in the hearts of our employees, whose dedication to this company and its mission is inspiring. I am deeply honored to be asked to once again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unparalleled and bold storytelling.
Under the deal, Bob Iger is expected to lead Disney as chief executive for the next two years, with a mandate from the board to “set the strategic direction for renewed growth.” He must also work with the board to find another successor.
During his initial tenure at Disney, which spanned more than four decades including fifteen years as 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 over 160 million subscribers.
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