In a surprising twist, Bob Iger, a long-serving CEO of The Walt Disney Company, who retired in 2020, is making a comeback as the chief executive. He handed over the reins to Bob Chapek, who took charge during the challenging times brought on by the COVID-19 pandemic. For reasons not fully disclosed, Chapek is stepping down from his position, clearing the way for Iger to return.
Disney officially announced the immediate resignation of Chapek and the reinstatement of Iger as the CEO. Susan Arnold, Chairman of the Board for Disney, expressed gratitude towards Chapek for his service during the pandemic and emphasized Iger’s unique ability to navigate the company through the upcoming phase of industry transformation.
The decision to bring back Iger has been well-received by Disney shareholders and investors, leading to a 9% increase in Disney’s stock values today.
In a stunning turn of events, The Walt Disney Co. says that Bob Chapek will step down as CEO, with Bob Iger returning to lead the company: https://t.co/KWQpkcipQk pic.twitter.com/aEGXArRCSY
— The Hollywood Reporter (@THR) November 21, 2022
Iger expressed his optimism for Disney’s future and his eagerness to take on the role of CEO again. He highlighted the significance of Disney’s brands and franchises worldwide, especially the dedication of its employees who inspire the company’s mission.
He stated, “I am deeply honored to be asked to lead this remarkable team once more, focusing on creative excellence to captivate generations with unparalleled storytelling.”
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