Major changes to Mickey Mouse’s house. The Disney Board of Directors announced that Bob Chapek will step down as CEO after nearly three years. His predecessor, Bob Iger, will return to serve as CEO of The Walt Disney Company, effective immediately.
“We thank Bob Chapek for his service to Disney during his long career, including leading the company through the unprecedented challenges of the pandemic,” said Susan Arnold, chairwoman of the Disney Board of Directors (via). “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company through this crucial period.”
Bob Iger served as CEO of Disney from 2005 to 2020. The New York executive helped position Disney as the most successful company in the world of entertainment. During his tenure, the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox stand out.
“Mr. Iger has the deep respect of Disney’s leadership, most of whom he worked closely with until his departure as CEO 11 months ago. And he is greatly admired by Disney employees around the world, all of which will allow for a smooth leadership transition,” Arnold added.
Bob Iger handed over the baton to Chapek in February 2020. However, he continued to lead the company’s creative efforts as CEO until December 2021, due to the pandemic. His return comes amid growing internal criticism of the Bob Chapek administration. The foregoing derived from his controversial statements, feuds with creatives linked to the company and market decisions that have caused serious financial problems at Disney.
“I am extremely optimistic about the future of this great company and I am delighted to be asked by the Board to return as its CEO,” commented Iger. “Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the world. 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 return to lead this extraordinary team, with a clear mission focused on creative excellence to inspire generations through bold and unmatched storytelling.”
Will the return of Bob Iger be what Disney needed to right the ship?
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