- The company announced that Disney will be replacing its CEO on Sunday night.
- Bob Chapek, outgoing CEO, will be stepping down in less than a full year.
- Bob Iger, who was the CEO of the company from 2005 to 2020 is now taking the reins.
Bob Iger, the former Disney CEO, has been appointed to replace Bob Chapek as Disney’s CEO.
Insider was able to see the press release in which the company’s board made the announcement of its sudden leadership change. The Walt Disney Company has confirmed that the changes are effective immediately.
Disney released that Iger agreed to become the company’s CEO for a period of two years. He will then work with the Board to identify a successor.
“The Board concluded that, as Disney embarks upon an increasingly complex period in industry transformation, Bob Iger was uniquely placed to lead the Company throughout this pivotal period,” stated Susan Arnold, Disney board chair, in a press release.
Arnold said that Iger has the “deep respect and admiration” of Disney’s senior leadership. He is also “greatly admired worldwide by Disney employees.”
Iger said that “I am extremely optimistic about the future and delighted to be asked by Board to return as its chief executive officer” in Sunday’s press release.
“I am honored to be asked again to lead this remarkable group, with a clear purpose focused on creative excellence and inspiring generations through unrivaled bold storytelling,” he said.
Iger was the chairman and CEO of The Walt Disney Company from 2005 to 2020. He served as the chairman and executive chairman of the board, until 2021.
2020Iger stated that he didn’t want to be the Disney CEO anymore. Iger was elected to be the next president in 2021. CNBCBecause he had become more confident and less open to other opinions, he decided to leave the company.
Chapek was Nominated CEO for 2020.
This article is breaking news. Keep checking back for more updates.
