Disney CEO Bob Chapek resigns – predecessor Bob Iger takes over
Bob Chapek has surprisingly resigned from his position as Disney CEO. Long-serving CEO Robert “Bob” Iger will take over for him, even returning from retirement to do so. However, Iger wants to take the helm again for a maximum of two years.
There is a surprising change at the top of the entertainment group Disney: The previous CEO Bob Chapek has resigned from his post. Long-serving CEO Robert “Bob” Iger is returning from retirement to take over the reins – albeit for a limited time.
Because Iger had agreed to want to pull the strings for a maximum of two more years. That’s what Disney shared in one on Sunday, November 20, 2022 statements With. Susan Arnold, Chair of the Board of Directors, commented:
We thank Bob Chapek for his many years of service to Disney, including leading the company through the unprecedented challenges of the pandemic.
Change of boss at Disney: Bob Iger returns
In the meantime, Bob Iger has been commissioned by the board to “set the strategic direction for renewed growth”. To do this, he should work closely with the board of directors. This also includes finding a suitable successor. Because Iger, who is returning from retirement, will take over for a maximum of two years. In the statement it says:
Mr. Iger has the deep respect of Disney’s senior leadership team, with whom he worked closely until his retirement as Executive Chairman 11 months ago, and is greatly admired by Disney employees worldwide – all of which will ensure a seamless leadership transition .
Disappointing quarterly figures and industrial change
According to CEO Susan Arnold, Disney is going through “an increasingly complex phase of industrial change.” Apparently, the board does not trust Bob Chapek to cope with this phase. His predecessor and successor Bob Iger was again optimistic.
Above all, he wants to rely on bold storytelling to inspire generations. He previously worked for the company for over four decades, including 15 years as CEO. Meanwhile, Chapek steered Disney through the pandemic, but has to answer for the recent disappointing quarterly figures.
The group was able to record strong growth in its Disney Plus streaming service. However, the company suffers from relatively high costs, which is why the quarterly profit was lower than expected. Bob Chapek then announced austerity measures including a hiring freeze and layoffs.
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