DISNEY SHAKEUP: Bob Iger Back as CEO, Bob Chapek Out; Board Cites ‘Complex Industry Transformation’ for Shocking C-Suite Shuffle
Bob Iger has replaced Bob Chapek as Disney’s CEO, a shocking turn of events for the world’s largest media company that has been in turmoil ever since Iger stepped down as CEO in February 2020.
The shakeup that caught the entertainment industry and Wall Street mostly by surprise was confirmed by Disney’s board of directors late Sunday. There had been rumblings of a shakeup in the C-suite but the prospect of Iger returning to the CEO job still seemed far-fetched. The turnabout recalls a situation a generation ago at Apple in 1997 when Steve Jobs returned to the helm of the company he co-founded after 12 years in the wilderness. Iger was out of power as CEO for a little under three years.