The Walt Disney Company has said that Bob Chapek will no longer be CEO, and Bob Iger will return to lead the company once again. The decision was announced by Disney’s board of directors on Sunday night, despite Chapek signing a new multi-year contract in June.
Susan Arnold, chairman of the board stated, “We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic, 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 was even surprised himself as he sent an email that stated he is returning, “with an incredible sense of gratitude and humility — and, I must admit, a bit of amazement.” Disney also clarified that the decision is a temporary one as Iger, “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 said in a statement that, “I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO, 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.”
—
MateusandOlivia / Shutterstock