Disney on Sunday announced that Robert Iger will return to lead the company as its CEO in a stunning move that comes just two and half years after he stepped down from the role and handpicked his successor.
In a press release, Disney announced Iger would take over the role immediately to serve a two year term as CEO.
Iger has been tasked with setting a “strategic direction for renewed growth” at the company while also working closely with the board to find a successor who will take over after his term ends, the release adds.
The statement thanks outgoing CEO Bob Chapek for his service and long career at Disney “including navigating the company through the unprecedented challenges of the pandemic.”
While no reason has been given for Chapek’s dramatic ouster, it comes at a time of uncertainty at Disney which reported weaker than expected revenue and profit in its third quarter earnings report.
Despite this Chapek’s ouster comes as a surprise as Disney’s board in June had voted unanimously to extend his contract by another three years in a move that was seen as the company backing its CEO amidst several challenges.
In a brief statement Iger said he was “extremely optimistic” for the future of Disney and was “thrilled” to be asked to return as CEO.
Source: https://www.forbes.com/sites/siladityaray/2022/11/21/robert-iger-returns-as-disney-ceo-after-successor-bob-chapek-is-ousted/