Disney recalls its iconic boss Bob Iger to helm the Kingdom

Bob Iger had left his place as general manager of Disney to Bob Chapek in 2020 after fifteen years in this position. He eventually resumes this function with immediate effect, the company announced on Sunday.

The septuagenarian has agreed to return to the head of the Enchanted Kingdom for two years with the objective of establishing a strategy for “renewed growth”, said Disney. He will also aim to work with the board of directors to find a successor.

The company, founded in 1923, did not specify the reasons for the departure of Bob Chapek, indicating only that he had left his post. “We thank Bob Chapek for his service to Disney over his long career, including guiding the company through the unprecedented challenges of the pandemic,” Board Chair Susan Arnold said. , in the press release. “The board felt that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company through this pivotal time.”

Mixed results

Disney veteran Bob Chapek took over in early 2020, just at the start of the pandemic. He had to manage the closure of amusement parks and cinemas but also the expansion of streaming.

The results of this activity have recently emerged mixed, Disney+ still gaining subscribers in the third quarter, but the Californian group’s streaming platforms (Disney+, ESPN+ and Hulu) having garnered an operating loss of nearly $1.5 billion. The action of Disney had lost more than 13% the day after the announcement of these results, at the beginning of November.

Bob Iger, who remained chairman of the group’s board of directors until 2021, “has the deep respect of the Disney management team,” said Susan Arnold.

Read also: An enchanted quarter for Disney+ which attracted 14 million additional subscribers

At the head of the company from 2005 to 2020, the emblematic boss had transformed it into an entertainment empire, between the acquisitions of the animation studio Pixar in 2006, Marvel in 2009 or most of the assets of the former 21st Century Fox group in 2019. He ended his tenure with the launch of Disney+.

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