There is a surprising change of boss at entertainment giant Disney: Long-time CEO Robert “Bob” Iger is returning to the top. Disney announced on Monday night that Iger had agreed to take over the reins as CEO for another two years. He had been Disney boss for 15 years. It was said that his successor, Bob Chapek, had resigned.
Disney had recently continued to post strong growth in the important streaming business, but is suffering from high costs. The most recent quarterly profit fell short of stock market expectations. Chapek then announced austerity measures such as a hiring freeze and job cuts.
Iger had made the Disney giant even bigger by buying the companies behind the “Star Wars” series and the “Marvel” films, among other things. Chapek, who was previously in charge of the theme parks, took over in 2020 as Iger’s own preferred successor. Most recently, however, they were in dispute, according to media reports.