Bob Iger isn’t really the reset that Walt Disney needs, but for now, he’s the reset the $180 billion media giant is getting. The company on Sunday announced its former chief executive officer – who previously had a 15 year tenure – is coming back to replace Bob Chapek, who took the reins from Iger less than three short years ago. The board is mandating that Iger set the strategic direction of the company and find his successor. This time, though, Iger’s legacy – and the board’s jobs – are on the line.
in its streaming business. Small wonder why shareholders seem relieved on Monday that the company didn’t lollygag to cut ties, sending shares up 8% in morning trading.
Part of the responsibility for Disney’s future lands on the board, including chair Susan Arnold. She has only had that job for 11 months, but led the renewal of Chapek’s three-year term in June. Still, eight of the 11 board members, including her, were around when Iger was previously at the helm. It’ll be hard for them not to fall back into old habits. If they do activists may have
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