Bob Iger named Disney CEO efficient instantly

Bob Iger is again.

Disney re-appointed Iger as CEO on Sunday evening, efficient instantly, after earlier CEO Bob Chapek got here underneath fireplace for his administration of the leisure large.

Learn the complete Disney launch right here:

The Walt Disney Firm (NYSE: DIS) introduced right this moment that Robert A. Iger is returning to steer Disney as Chief Govt Officer, efficient instantly. Mr. Iger, who spent greater than 4 a long time on the Firm, together with 15 years as its CEO, has agreed to function Disney’s CEO for 2 years, with a mandate from the Board to set the strategic path for renewed progress and to work carefully with the Board in growing a successor to steer the Firm on the completion of his time period. Mr. Iger succeeds Bob Chapek, who has stepped down from his place. 

“We thank Bob Chapek for his service to Disney over his lengthy profession, together with navigating the corporate via the unprecedented challenges of the pandemic,” mentioned Susan Arnold, Chairman of the Board. “The Board has concluded that as Disney embarks on an more and more complicated interval of trade transformation, Bob Iger is uniquely located to steer the Firm via this pivotal interval.”

“Mr. Iger has the deep respect of Disney’s senior management workforce, most of whom he labored carefully with till his departure as government chairman 11 months in the past, and he’s tremendously admired by Disney workers worldwide–all of which can permit for a seamless transition of management,” she mentioned.

The place of Chairman of the Board stays unchanged, with Ms. Arnold serving in that capability.

“I’m extraordinarily optimistic for the way forward for this nice firm and thrilled to be requested by the Board to return as its CEO,” Mr. Iger mentioned. “Disney and its incomparable manufacturers and franchises maintain a particular place within the hearts of so many individuals across the globe—most particularly within the hearts of our workers, whose dedication to this firm and its mission is an inspiration. I’m deeply honored to be requested to once more lead this exceptional workforce, with a transparent mission targeted on artistic excellence to encourage generations via unmatched, daring storytelling.

“Throughout his 15 years as CEO, from 2005 to 2020, Mr. Iger helped construct Disney into one of many world’s most profitable and admired media and leisure corporations with a strategic imaginative and prescient targeted on artistic excellence, technological innovation and worldwide progress. He expanded on Disney’s legacy of unparalleled storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and twenty first Century Fox and elevated the Firm’s market capitalization fivefold throughout his time as CEO. Mr. Iger continued to direct Disney’s artistic endeavors till his departure as Govt Chairman final December, and the Firm’s sturdy pipeline of content material is a testomony to his management and imaginative and prescient.

That is breaking information. Please examine again for updates.