It’s still moving disney. While Bob Chapek had just taken the head of the Disney company, the CEO has just resigned. He left his post for reasons that were not disclosed by the company. The big-eared firm has therefore just found a replacement for him. And not just any since it is a former member of the Disney team.
The departure of Bob Chapek
In February 2020, Bob Iger, former CEO of Walt Disney Company resigns and appoints a successor: Bob Chapek. The latter therefore took over and took care of the largest film company in the world for more than two years. However, after these few months of service, Bob Chapek has just resigned.
To fill the void left by Bob Chapek, Bob Iger is back at the head of the Walt Disney Company For an undetermined time. According to the media Business Insider, the transition between Bob Iger and Bob Chapek had not gone very well. According to the report, Bob Iger would regret his decision to leave his place to Bob Chapek. According to the sources cited in the report, the transition between the two CEOs has not been smooth, especially once the company was hit by the COVID-19 pandemic in the spring of 2020.
The return of Bob Iger
Late Sunday evening, Disney therefore announced the return of Bob Iger as CEO of the firm. It is reported that Bob Chapek resigned voluntarily and himself called Bob Iger back to ensure the transition. Board Chair Susan Arnold said in a statement that:
We thank Bob Chapek for his service to Disney over his long career, including guiding the company through the unprecedented challenges of the pandemic. The board concluded that as Disney enters an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company through this pivotal period.
Bob Iger’s first stint as Disney industry boss ran from 2005 to 2020. A reign during which he oversaw major restructurings in the company such as the acquisitions of LucasFilm, Marvel Studios and Pixar. Bob Iger also orchestrated the merger between Disney and the 21th Century Fox and the launch of the Disney+ platform. In short, he is a man who knows what he is talking about and who has managed the Disney business with an iron fist for 15 consecutive years. Susan Arnold did not fail to sing her praises:
Mr. Iger has the deep respect of the Disney leadership team, with whom he worked closely until his departure as executive chairman 11 months ago, and he is highly admired by Disney employees. worldwide, which will allow for a smooth transition of leadership.
Bob Iger himself spoke about this completely unexpected change of direction:
I am extremely optimistic for the future of this great company and delighted that the board has asked me to return as CEO. Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the world, most especially in the hearts of our employees, whose dedication to this company and its mission is inspiring. I am deeply honored to once again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through bold, unparalleled storytelling.
Prior to his role as CEO, Bob Iger served as the company’s president of operations. He also served as chairman of the board until 2021, before Susan Arnold took over. The latter will remain in office despite the return of Bob Iger. A return that can be explained by the losses of money that Disney has to face. The firm with big ears actually loses turnover because of amusement parks, but also because of Disney+which should only be profitable from 2024. A slight state of concealed panic which undoubtedly explains the return of Bob Iger to the head of Disney.