The news broke yesterday evening that Bob Chapek had stepped down from his role as CEO of the Walt Disney Company. He will be replaced by his predecessor Bob Iger.
This news comes a couple of weeks following the company posting its lowest price for Disney shares in the past two years. Rumors of Chapek’s resignation have been circulating, but I doubt anyone seriously considered Iger returning to the role.
Bob Iger lead the Disney company as CEO from 2005 until February of 2020. Iger lead the company through it’s largest expansion of Intellectual properties with it’s acquisitions of Pixar, Marvel Entertainment, Lucasfilm, and 21st Century Fox’s entertainment assets. He expanded the Disney parks. And lead the companies investment into its own streaming platform.
Iger represents a turning point for the company as Chapek had made many changes that did not sit well with Disney fans. The company had mostly abandoned theatrical releases of its animated features for blockbuster action movies. During Chapek’s time leading the company through the Covid pandemic most of the animated movies have been released in the companies streaming service, Disney+ (itself a product of Bob Iger’s legacy as leader of the company).
We hope this change in leadership proves to benefit the Walt Disney Company and in return it’s fans.