The Walt Disney Company announced Sunday night that Robert Iger is returning as CEO after current CEO Bob Chapek stepped down from his position.
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” Susan Arnold, chairwoman of the board, said in a release.
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Iger spent more than 40 years with Disney, including 15 years as CEO, before Chapek took the reins in 2020.
The board concluded Iger is “uniquely situated to lead the company” as Disney embarks on an “increasingly complex period of industry transformation.”
Earlier this month, Disney saw lower-than-expected earnings for its fiscal fourth quarter.
Over the last year, Disney lost its status as an independent special district after Florida Gov. Ron DeSantis signed legislation stripping the company of its unique status in early April after Disney executives denounced the governor’s Parental Rights in Education Act, often called the “Don’t Say Gay” bill by those who oppose it.
The company also came under fire from some people when leaked video clips showed Disney officials discussing the company’s “not-at-all secret gay agenda” and its commitment to “exploring queer stories.”
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During his time as CEO, Iger oversaw Disney’s acquisition of Pixar, Marvel, Lucasfilm, and 21st Century Fox.
“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” Iger said in a statement. “Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe — most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration.”
