Disney had just renewed Bob Chapek's contract in June, and Bob Iger had said publicly he wouldn't return.
Further, the board will need to tell employees and investors what changed. Either Disney's board wasn't truthful in its confidence in June, or something so drastic has happened between now and then to change its mind. Disney's fiscal fourth-quarter results weren't good, but Chapek also told investors streaming losses hadIger-Chapek awkwardness
Iger also returns under less-than-ideal circumstances. He'll walk back into the job as a conquering hero to an employee base desperate for leadership and the prospects of better times ahead. But he has repeatedly said he wouldn't return as CEO, and he has now earned a reputation for undermining several hand-picked successors.
Iger's failure to walk away from Disney is a business school case study on how not to pass the baton. That's not to say he isn't the right man for the job, but coming back to replace Chapek
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bob Iger makes stunning return as Disney CEO replacing Bob ChapekBob Iger previously steered Disney through its absorption of Lucasfilm, Pixar, Marvel and Fox's entertainment businesses and launch of Disney Plus.
Read more »
Disney Dumps Bob Chapek as CEO, Brings Back Bob IgerIn a surprise Sunday night twist, the Walt Disney Co. said Bob Iger had been re-appointed to CEO, “effective immediately.”
Read more »
Bob Iger steps back in as Disney CEO, replacing Bob ChapekNow Iger will get to pick another successor
Read more »
Shocker: Bob Iger Is Back as Disney CEO Replacing Bob ChapekBREAKING: Somehow, Bob Iger has returned! Iger returns as Disney CEO as Bob Chapek exits.
Read more »
Bob Iger Returning as Disney CEO, Bob Chapek ExitsDisney’s board of directors said that Iger “has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth” and…
Read more »
Disney shocker: Bob Iger to return as CEO, Bob Chapek oustedHow quickly things change: This past June, Disney extended Bob Chapek’s contract for another three years, with board chair Susan Arnold calling Chapek “the right leader at the right time,” and saying he had the board’s “full confidence.”
Read more »