In a move that shocked Hollywood, Bob Iger, one of the most notable CEOs in the history of the Walt Disney company, is returning to run the media empire.
Bob Chapek, who replaced Iger in 2020 as CEO, is stepping down immediately.
“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 Arnold, Chairman of the Board for Disney, said in a statement on Sunday night. “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.”
Susan Arnold, who remains Chairman of the Board at Disney, said, "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." Arnold continued, "Mr. Iger has the deep respect of Disney's senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide -- all of which will allow for a seamless transition of leadership."