Bob Iger rejoins Disney as CEO

The Walt Disney Company announced the return of Bob Iger as CEO for the next two years with expectations for “renewed growth” and finding a successor for his role.

Iger’s return as CEO comes two years after he handed the reins to Bob Chapek, whom Iger hand-picked as his successor in 2020 and continued to stay in the company as Executive Chairman until 2021.

During his 15 years at Disney, from 2005 to 2020, Bob Iger has contributed to acquiring significant deals with Marvel, Star Wars, Pixar, and LucasFilms. The company’s board hopes Iger will work his magic in the couple of years he will be with Disney.

Chapek’s two-year journey
CEO Bob Chapek stepped down from the role despite renewing his contract this June. Chapek, who led the company during the COVID-19 pandemic, saw a rise in growth in 2021, but stocks plunged in recent months.

Disney’s streaming service and the parks’ performance did not meet expectations in 2022. Stocks faced a 52-week low this month, and shares saw a decline of about 41% this year.

Chapek also faced a handful of controversies in his time as CEO, as he struggled to deal with the “Don’t Say Gay” bill and Scarlet Johansson’s lawsuit over Marvel Studios’ Black Widow.