Bob Iger returns as Disney CEO as Bob Chapek gets fired from the position

Bob Iger returns as Disney CEO as Bob Chapek gets fired from the position

The Walt Disney Company revealed that Bob Iger is returning as their CEO. The board of directors announced the news on November 20 and the board’s chairman Susan Arnold stated,

“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic. 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.”

Iger also confirmed his return in an email and according to the board, his term will be temporary since he agreed to be the CEO for two years with a mandate to set the strategic direction for renewed growth and work with them to develop a successor to lead the company following the completion of his term. Speaking about his return, Iger stated,

“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.”

Iger said that he will address the company on November 21 and said that the company might had to go through many challenges but he learned at Disney that the employees and cast members achieve the impossible in the worst situations.

He was initially the President of ABC Television between 1994 and 1995 and the President and Chief Operating Officer of Capital Cities/ABC from 1995.

ABC was acquired by Disney in 1996 and Iger became its president in 2000. He became the CEO in 2005 and as executive chairman until his retirement in 2021. He was also involved in the acquisition of Pixar, Marvel Entertainment and LucasFilm.