Disney has chosen to reappoint Bob Iger as CEO – effectively immediately – amid a decline in company growth and revenue concerns.
After stepping down from the role in February of 2020, Iger had made it clear at that time that he had no intentions of coming back. However, he has agreed to do just that and serve as CEO for two more years as a way to help the company get back on the right course.
“Mr. 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. Mr. Iger succeeds Bob Chapek, who has stepped down from his position.”
The news was made via an official statement from Disney, who explained the changeup and what the company is looking to accomplish moving forward. This changing of the guard comes just months after it was reported that Chapek had signed a new multi-year contract with the company.
However, the statement then went on to thank Chapek for his work at Disney and how he helped navigate “the company through the unprecedented challenges” of the past few years.
Disney statement confirms Bob Iger will only be back for short stint
As confirmed in the full statement, Iger is only set to steer the ship for the next two years. As a result, the company is already eyeing future candidates to take the helm when the time comes. Iger himself will work toward developing a “successor to lead the company at the completion of his term.”
“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” Mr. Iger said in the joint 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.”