Bob Iger is the big boss of Disney again. He takes the place of Bob Chapek.
Bob Iger is returning to his role as Disney CEO as part of a major leadership change that sees current CEO Bob Chapek step down. The company announced this in a press release. Bob Iger is expected to remain in office for two years with a mandate to “renew growth”and to find and train his successor. Bob Iger says he returns “full of gratitude and humility – and […] a bit of surprise.”
Bob Iger is Disney’s big boss again
“We thank Bob Chapek for his service to Disney throughout his long career, including leading the company through the unprecedented challenges of the pandemic,”Disney President Susan Arnold said in a statement. “The Board of Directors has concluded that Disney is entering an incredibly challenging period of industry transformation, and Bob Iger is uniquely positioned to lead the company during this pivotal period.”
Bob Iger chose Bob Chapek to succeed him as CEO, but their very different styles quickly clashed. Bob Iger is known for appreciating creative talent, while Bob Chapek has focused on streaming, especially as the pandemic wiped out the giant’s theme parks and movie theater rentals.
He takes the place of Bob Chapek.
Under Bob Chapek, Disney became embroiled in Florida’s “Don’t Say Gay”law and was widely criticized for criticizing Black Widow actress Scarlett Johansson for her stance in the battle between streaming and movies. And during the Disney retreat, Bob Iger reportedly urged the company not to rely solely on data when making decisions. Some see this as a direct criticism of Bob Chapek.
However, under the latter’s leadership, Disney gained 235 million subscribers (including ESPN and Hulu) but lost $1.5 billion last quarter. Its market value has also fallen from $257.6 billion in Bob Iger’s last full year to $163.5 billion. However, most of these losses are related to the pandemic, as cinemas and theme parks have been forced to close.
This decision to change the CEO came as a surprise anyway, as Disney extended Bob Chapek’s contract by three years. Bob Iger has an almost mythical Disney status. We owe him the acquisition of Pixar, Marvel, Lucasfilm and 20th Century Fox. This legacy will be put to the test, and Disney will be put to the test.