Bob Iger is returning to head Disney as Bob Chapek steps down

Image Source: livemint.com

Disney has reverted the CEO change that caught everyone off guard in 2020, with Bob Iger resuming his position as the CEO and taking the place of Bob Chapek

Iger, who also holds the majority of the company’s stock, will now begin a fresh two-year tenure as CEO.

Iger led Disney as CEO for 15 years, from 2005 to 2020, before choosing to step aside and transfer control to Bob Chapek.

Iger declared upon his return that he was excited to rejoin Disney and that he was hopeful about the company’s future.

Iger managed Disney’s significant deals with Marvel, Pixar, and 21st Century Fox during his previous stint.

The share price of the company decreased by over 40% during Chapek tenure.

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Chapek was also criticized for not actively opposing Florida’s anti-gay law.

The news was well received by investors, who drove Disney stock up 9% on Monday after it had lost about 36% of its worth this year.

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