Bob Iger Is Back As CEO of Disney, Replaces Bob Chapek

Iger will assume the position effective immediately.

Bob Iger has been reappointed as chief executive officer of Disney and will assume the duties of the company effective immediately.

Announced Sunday night in a statement put out by the Walt Disney Company, it’s noted that  Iger has agreed to a two-year appointment “to set the strategic direction for renewed growth and to work closely with the board in developing a successor to lead the company.”

The statement does not point out exactly why there was an immediate change.

“It is with an incredible sense of gratitude and humility — and, I must admit, a bit of amazement — that I write to you this evening with the news that I am returning to The Walt Disney Company as Chief Executive Officer,” Iger wrote in an email to employees, obtained by CNBC. 

Iger led the company as CEO for 15 years from 2005 until 2020, and some of his most notable contributions were the acquisitions during his tenure including Pixar in 2006, Marvel in 2009, Lucasfilm in 2012, and 21st Century Fox in 2019.

After announcing his successor in 2020 Iger remained on the board as executive chairman and then chairman of the board until his departure, a little less than a year ago in December. Iger had said it was “bittersweet” to leave the company in an interview with Variety, but was proud of the work he had done including opening a park in Shanghai, and the “Black Panther film”.

Iger’s replacement, Bob Chapek was officially named in February 2020 and after serving the company as CEO for 11 months has stepped down.

“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” Disney Board Chairman, Susan Arnold, said in the statement.

Disney has also stated that there will be no change to the board of directors.

The shakeup comes just days after the company announced its latest round of park price increases which will put single-day prices as high as $189 on the most popular days.

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