Bob Iger is back in as the head of Disney after the company ousted its current CEO, Bob Chapek. Chapek had been at the helm of Disney for almost three years and only just recently signed a new nine year contract. No specific reason was given for the shake up at Disney, but the company is not doing so well financially these days.
Last week Disney stock hit a 52 week low. But the markets the world over are down these days with many big companies seeing their stocks slide.
Bob Iger, 71, previously headed Disney from 2005 to 2022. He has agreed to come back for two years.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
Disney said that Bob Iger, “agreed to serve as Disney’s CEO for 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.”
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said board chairman Susan Arnold in a statement. “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.”
“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” Bob Iger said in a statement. “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.”
A lot of entertainers are thrilled about the return of Bob Iger. For example, Josh Gad tweeted, “I don’t think I’ve ever been so happy. Welcome home @RobertIger- the GOAT is back!!!!”