Bob Iger is Back at Disney. Bob Chapek is out!

Bob Iger, less than a year in retirement, has returned as the CEO of the Walt Disney Company by special request from the company's board.

Bob Chapek steps down from CEO stating.

The Disney board of directors Susan Arnold stated:
“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,” said board chair Susan Arnold in the official announcement (read it below), just a couple of weeks after a rougher-than-expected quarterly earnings report by the company. Once a overachiever buoyed by success in streaming, Disney’s stock has recently sunk to a multi-year low after executives warned of weak revenue and profit gains in the year to come and also hefty expenses for streaming. The company’s shares have lost roughly 40% in 2022 to date.