Bob was replaced by another person. Bob Iger, the man who ran the company before Bob Chapek took over, will become the new CEO of The Disney Company.
Susan Arnold, Chairman of the Board said, "We thank Bob for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the Pandemic." Disney is embarking on an increasingly complex period of industry transformation and Bob Iger is uniquely positioned to lead the Company through this crucial period.
Iger will return to Disney 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.
Disney had a multimedia dominance that hadn't been seen in decades under Iger's leadership. He launched Disney+ and acquired many other companies in that time. There was talk that he could run for President.
Things went downhill very quickly after Iger's death in 2020. Disney's operations were almost completely shut down due to the covid-19 Pandemic. He had some historic and unforgettable gaffes. He sued the company about his Black Widow earnings, Disney waited too long to fight the Don't Say Gay bill, and he suggested adults don't like animation. The CEO of Disney is giving a speech.
Chapek has never become a fan or trusted with their brand. The ousting of Iger is a huge surprise as he was thought to be done with Disney.
Iger said that Disney's brands and franchises hold a special place in the hearts of many people around the globe. I am honored to once again lead this incredible team, with a clear mission focused on creative excellence to inspire generations.
There are a lot of questions for Disney and Disney fans. Will he be prepared to take over? What will Iger do to get back fans and investors? When we do, we'll let you know.
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