Bob Chapek out at Disney, Bob Iger returns to lead the company as CEO

18 days ago in "The Walt Disney Company"

Posted: Monday November 21, 2022 7:01am ET by WDWMAGIC Staff

In a shocking turn of events, the Walt Disney Company announced late Sunday night that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately.

 

Iger, who spent more than four decades at the Company, including 15 years as its CEO, has 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. Iger succeeds Bob Chapek, who has stepped down from his position.

“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 Susan Arnold, Chairman of the Board. “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.”

“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,” Arnold said.

The position of Chairman of the Board remains unchanged, with Arnold serving in that capacity. Josh D'Amaro remains in his position as Chairman Disney Parks, Experiences and Products.

“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” Iger said. “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.”

During his 15 years as CEO, from 2005 to 2020, Iger helped build Disney into one of the world’s most successful and admired media and entertainment companies with a strategic vision focused on creative excellence, technological innovation, and international growth. He expanded on Disney’s legacy with the acquisitions of Pixar, Marvel, Lucasfilm, and 21st Century Fox and increased the Company’s market capitalization fivefold during his time as CEO.

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lazyboy97o6 hours ago

“98% of statistics quoted on the internet are made up.” - Abraham Lincoln

Casper Gutman6 hours ago

Man, I cannot wait for the MCU X-Men.

LittleBuford7 hours ago

Majority of whom?

_caleb7 hours ago

Majority of what?

Laketravis7 hours ago

You might peruse some of the opinions outside of this WDW Magic echo chamber. An alarming majority specifically cite this "woke mentality" as their reason for no longer supporting Disney.

_caleb7 hours ago

Maybe reanimated minions of She Who Shall Not Be Named?

OrlandoRising8 hours ago

Is it me or are there more than the usual amount of these just-created spam accounts posting in this thread?

Lilofan9 hours ago

When the incoming CEO from the outside or inside came in to replace temporary Iger in 2 years and Christine doesn't resign like Mayer, Staggs and Rasulo who were passed over, it is probable when the new guy comes , the first head on the chopping block would be hers.

Casper Gutman11 hours ago

Come on... she didn't do that without being quite sure what the outcome would be.

SteveAZee13 hours ago

She's good.

"El Magnifico"13 hours ago

I heard it was gonna be the Harmonius Grand Finale. He walks out through the Stargate.

MisterPenguin13 hours ago

McCarthy did what people wanted every underling to do in the face of bad leadership... Instead of being just a yes person, she went to the Board and threatened to quit unless they fired Chapek. So, how's that for action?

Trauma14 hours ago

Yeah they all say the things people want to hear. I only care about what they do.

Tony the Tigger14 hours ago

Then they’re likely not trying to get you back.