Bob Chapek Steps Down and Bob Iger Returns as Disney CEO

In a stunning move, Bob Chapek has stepped down as CEO of the Walt Disney Company and former President and CEO Bob Iger is returning to the company to take his place.

Yes, you read that correctly! After Bob Chapek is no longer the Disney CEO and Bob Iger is back once again.

“The Walt Disney Company announced today that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately.”

Walt Disney Company Official Press Release

“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” said Susan Arnold, Chairman of the Board.

Our Thoughts

There is a lot to digest here, and I have a feeling there is a much longer and more interesting story behind the scenes that will make for a great book or even movie in the near future.

Right away, let’s state the obvious. While all the official statements say that Bob Chapek has “stepped down” from his position as Disney CEO, the reality is that he was forced out and had no choice.

And while it’s true that Chapek was not a popular man with just about anyone, the biggest reason he is no longer Disney CEO is the cratering Disney stock price over the last year.

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