The Walt Disney Co. announced today that Bob Iger is returning to lead the company as Bob Chapek steps down as CEO. Iger, who officially left the company last year, is set to take command immediately. The company said he will serve as CEO for two years.
“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 concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company through this pivotal period,” board chair Susan Arnold said in a letter.
“Mr. Iger has the deep respect of Disney’s senior management 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 around the world — all of whom will allow for a seamless transition of leadership.”
The company said there was no change to the board and Arnold would continue to serve as chairman.
Iger served as Disney’s CEO from 2005 to 2020 for 15 years before that decides to retire and hand over the reins to Capek. In particular, Capek signed three-year contract extension with the company in June.
Upon his return, Iger said he was optimistic about Disney’s future and was excited to return to the company.
“Disney and its unparalleled 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 honored to be asked to once again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unparalleled, bold storytelling,” he said in a statement.
This is a developing story…