Out with the old and in with the…older? Bob Iger is back once again as head of the Walt Disney Corporation.
Iger originally stepped down from his role in 2020 after 15 years as the company’s CEO. He was replaced by Bob Chapek, then Head of Disney Parks. Now, Chapek will step down immediately, allowing Iger to take back his long-time role.
“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 Disney Chairman of the Board Susan Arnold in a statement. “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.”
The shakeup comes as a surprise, since Chapek had recently re-upped his contract to serve as CEO until 2025. However, Chapek came under fire for his handling of the company during the proposition of Florida’s “Don’t Say Gay” bill.
Iger’s previous tenure as Disney CEO saw the acquisition of major brands like Pixar, Marvel, and Lucasfilm, and helped pave the way for the launch of streaming service Disney+.
“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” said Iger in a statement. “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.”
Disney said Iger agreed to serve as CEO for two years, with “a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term.”
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