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Bob Iger back as Disney CEO effective immediately after less than a year in retirement

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(AP Photo/John Raoux, File)

Bob Iger returns as CEO of The Walt Disney Company, effective immediately, and will replace former CEO Bob Chapek, Disney announced late Sunday.

“Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years,” the company stated, “with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term.”

“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” stated Susan Arnold, Chairman of the Board. “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.”

Iger previously served as CEO of Disney from 2005 to 2020, contributing to the company’s legacy of unparalleled storytelling and admirable acquisitions of 21st Century Fox, Marvel, Lucasfilm, and Pixar, capitalizing Disney as one of the most dominant in the market, according to the company.

Iger departed his role as Executive Chairman December 2021 before returning. His calculated vision is focused on “creative excellence, technological innovation, and international growth,” Disney said.