Late yesterday, November 20, Walt Disney Company announced that former Chief Executive Officer Bob Iger would be returning to his role as CEO effective immediately. Iger is taking the place of Bob Chapek. Per the Chairman of the Board Susan Arnold, “We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic”.
Walt Disney Company Press Release
Bob Iger spent over 40 years in some capacity at the Walt Disney Company, 15 of those years were as Chief Executive Officer. During that time, he was instrumental in building the company as one of the most successful and respected entertainment companies in the World.
Disney’s statement reads in part, “(Iger) expanded on Disney’s legacy of unparalleled storytelling with the acquisition of Pixar, Marvel, Lucasfilm, and 21st Century Fox and increased the Company’s market capitalization fivefold during his time as CEO”.
Disney also mentioned that Mr. Iger is “deeply respected” by both senior leadership and employees of the company worldwide when commenting about the expected “seamless transition” of leadership going forward.
Bob Iger will serve as Walt Disney Company’s CEO for a term of 2 years with a mandate that he will work closely with the board to not only help “develop” a new successor at the end of his term, but to strategize a new direction for growth.