Robert Iger is back as Disney's boss, replaces Bob Chapek
After spending more than four decades at the entertainment giant, including 15 years as CEO, Bob Iger will replace Bob Chapek, who was his hand-picked successor.
Disney executive Robert (Bob) Iger, who stepped away from his position of chief executive officer (CEO) in early 2020, has been reinstated. Bob has worked at Disney for over four decades, including 15 years as the CEO., and will continue in the role for at least the next two years.
“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,” said Susan Arnold, Chairman of Disney's board, in a statement.
The executive change comes after Robert (Bob) Chapek was fired from his job on Sunday despite a three-year contract extension that was announced earlier this year. Under his watch, Disney faced a number of challenges—including the Black Widow lawsuit from actor Scarlett Johansson and the content giant's disappointing earnings report for the previous quarter which was released on November 8.
In his two-year-long tenure, Robert also helmed the firm through the pandemic, placing more emphasis on the streaming platform which incurred losses for the company.
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” Susan added.
Edited by Kanishk Singh