Bob Iger is Back as Disney's CEO! Bob Chapek is Out
Less than a year ago Bob Iger retired as CEO of the Walt Disney Company and was replaced by Bob Chapek. Well, that didn’t last long, I hope Iger enjoyed his short break because he’s back as Disney’s CEO and Chapek is out, effective immediately.
This was a huge surprise announcement that no one saw coming and Iger has signed on to be CEO for the next 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.”
The Walt Disney Company board chair Susan Arnold released the following statement:
“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.
“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.
Iger had this to say in a statement:
“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.”
Iger did some pretty incredible things at Disney during his previous 15 years as CEO. “He expanded on Disney’s legacy of unparalleled storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and increased the Company’s market capitalization fivefold during his time as CEO.”
The news was a surprise as Iger previously talked about how much he was enjoying retirement saying: “I don’t miss my job. Retirement is great, I have a vastly different life than before. Much more air in my day.”
Just when he thinks he’s out they pull him back in! The board obviously was not happy with Chapek and how he was running things. Ever since he took over, he never really seemed to win over Disney fans. He also didn’t really handle controversies very well, which included Florida’s “Don’t Say Gay” legislation, and Disney’s clash with Scarlett Johansson over Black Widow’s release.
He most recently said that he didn’t believe adults liked watching animated films. It’s great to see that Iger is back, but this just seems like a temporary fix to get things back in order before Disney figures who they want to bring in next to replace him again.
Source: Deadline