{"id":56171,"date":"2022-11-20T22:15:50","date_gmt":"2022-11-21T03:15:50","guid":{"rendered":"https:\/\/thelehighacresgazette.com\/news\/?p=56171"},"modified":"2022-11-20T22:15:56","modified_gmt":"2022-11-21T03:15:56","slug":"bob-iger-named-disney-ceo-effective-immediately","status":"publish","type":"post","link":"https:\/\/thelehighacresgazette.com\/news\/2022\/11\/bob-iger-named-disney-ceo-effective-immediately\/","title":{"rendered":"Bob Iger named Disney CEO effective immediately"},"content":{"rendered":"\n

That\u2019s right Bob Iger is back.<\/p>\n\n\n

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Disney<\/a> re-appointed Iger as CEO on Sunday night, effective immediately, after previous CEO Bob Chapek came under fire for his management of the entertainment giant.<\/p>\n\n\n\n

\u201cWe thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,\u201d said Susan Arnold, Disney\u2019s board chair. She will remain in that role.<\/p>\n\n\n\n

The dramatic upheaval comes 11 months after Iger left the company, and days after Chapek said he planned to cut costs at the company<\/a>, which had been burdened by swelling costs in its streaming service, Disney+. The company\u2019s earnings release earlier this month vastly underperformed Wall Street\u2019s expectations<\/a>. Even its theme park business, which reported a surge in revenue, fell below what what analysts had projected.<\/p>\n\n\n\n

Chapek, whose contract as CEO was re-upped earlier this year, planned a hiring freeze, cost cuts and layoffs across the company. Iger, who held the CEO role for 15 years at Disney, had favored Chapek as his successor. The two ultimately had a falling out<\/a>, and the shadow of their conflict cast a shadow over the company\u2019s future.<\/p>\n\n\n\n

Read the full Disney release here:<\/strong><\/p>\n\n\n\n

The Walt Disney Company (NYSE: DIS) announced today that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney\u2019s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position. <\/p>\n\n\n\n

\u201cWe thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,\u201d said Susan Arnold, Chairman of the Board. \u201cThe Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.\u201d<\/p>\n\n\n\n

\u201cMr. Iger has the deep respect of Disney\u2019s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide–all of which will allow for a seamless transition of leadership,\u201d she said.<\/p>\n\n\n\n

The position of Chairman of the Board remains unchanged, with Ms. Arnold serving in that capacity.<\/p>\n\n\n\n

\u201cI am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,\u201d Mr. Iger said. \u201cDisney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe\u2014most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling.<\/p>\n\n\n\n

\u201cDuring his 15 years as CEO, from 2005 to 2020, Mr. Iger helped build Disney into one of the world\u2019s most successful and admired media and entertainment companies with a strategic vision focused on creative excellence, technological innovation and international growth. He expanded on Disney\u2019s legacy of unparalleled storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and increased the Company\u2019s market capitalization fivefold during his time as CEO. Mr. Iger continued to direct Disney\u2019s creative endeavors until his departure as Executive Chairman last December, and the Company\u2019s robust pipeline of content is a testament to his leadership and vision.<\/p>\n","protected":false},"excerpt":{"rendered":"

That\u2019s right Bob Iger is back. Disney re-appointed Iger as CEO on Sunday night, effective immediately, after previous CEO Bob Chapek came under fire for his management of the entertainment giant.… <\/p>\n","protected":false},"author":8,"featured_media":56173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128],"tags":[1931],"_links":{"self":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/56171"}],"collection":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/comments?post=56171"}],"version-history":[{"count":1,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/56171\/revisions"}],"predecessor-version":[{"id":56174,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/56171\/revisions\/56174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media\/56173"}],"wp:attachment":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media?parent=56171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/categories?post=56171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/tags?post=56171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}