In a surprising turn of events, Bob Iger is taking over the CEO position from Bob Chapek, who is stepping down from the company s leadership role.
The Disney board of directors announced the move, which is effective right away. Iger has agreed to lead Disney for two years, according to an email addressed to staff members at the company. Iger will collaborate closely with the Board to find a replacement for him to manage the company after his time is over.
Iger said in a statement, “I am incredibly enthusiastic for the future of this wonderful company and happy to be asked by the Board to return as its CEO. In particular, our workers, whose devotion to our organization and its mission is an inspiration, occupy a special place in the hearts of so many people throughout the world for Disney and its unrivaled brands and franchises. I feel incredibly pleased to be asked to take the helm of this incredible team once more. We have a clear mission: to inspire future generations via exceptional, audacious storytelling.
Iger was the company’s CEO from 2005 to 2020. Then, after appointing Chapek as the new CEO, he withdrew from the role two years ago and continued to work as an executive throughout that time. Since relinquishing the post and taking it back now, he has been highly active within the organization. He also assisted the business in assisting Chapek through the pandemic. Industry insiders weren’t expecting the 71-year-old to return in this role, so they were taken aback by the move.
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Susan Arnold, Chairman of the Board, said “We applaud Bob Chapek for his dedication to Disney throughout the course of his lengthy career, including guiding the business through the unprecedented challenges of the epidemic.” The Board has come to the conclusion that Bob Iger is ideally suited to steer the Company through this critical phase as Disney enters a more challenging period of industry transition.
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