Bob Iger’s Return as Disney CEO Shocks the Entertainment World

Burbank, California — The Walt Disney Co. shocked the entertainment industry Sunday night by announcing that former CEO Bob Iger would return to lead the company for two years.

Bob Chapek, who will succeed Iger in 2020, has stepped down from that role, Disney said in a statement.Disney board chair Susan Arnold thanks Chapek for leadership during ‘unprecedented challenges’ the epidemic”

The directors believe Iger is in a “unique position” to guide the entertainment giant during “a time of increasingly complex industry transformation,” she said. Iger, 71, led Disney for 15 years as it absorbed the entertainment businesses of Pixar, Lucasfilm, Marvel and Fox before launching its Disney+ streaming service.he Retiring in 2020.

In a statement, Iger said he was “thrilled” to return to Disney and was “extremely optimistic” about Disney’s future.

“I am extremely honored to be invited once again to lead this exceptional team with a clear mission to focus on creative excellence and inspire generations through unparalleled, bold stories,” said Iger.

Hollywood’s creative community has complained about Chapek’s cost-cutting measures, sometimes being outspoken about talent, while theme park regulars have resented the price hikes. Earlier this month, Disney reported weaker-than-expected fourth-quarter results.

Earlier this year, Chapek faced opposition for not using Disney’s massive clout in Florida to overturn a Republican bill that would have prevented teachers from teaching younger students about LGBTQ issues.The bill sparked a War of words between Disney and Republican Gov. Ron DeSantis.

he was also criticized for his handling of problems Scarlett Johansson’s lawsuit last year It’s an unusually public conflict between a studio and a top Hollywood star over what she’s paid for “Black Widow.” The 2021 Marvel film is available in theaters and on Disney+ for $30 rentals.

Iger took the reins at Disney for the first time in 2005 when the board ousted its fifth CEO, Michael Eisner. The former TV weatherman has won over Wall Street and Hollywood with his bold acquisitions and public display of respect for the creative community and the company’s storied history.