Disney’s board of directors said that Bob 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”
Iger even acknowledged in an email to Disney employees Sunday that he is returning “with an incredible sense of gratitude and humility — and, I must admit, a bit of amazement.”While Iger will be returning to his old role, the board also made it clear that his new term will be a temporary one.
Of course, as Arnold noted in her statement, the novel coronavirus pandemic took its toll on the company, shutting its theme parks and cruise ships, and stopping almost all film and TV productions. It also, however, turbocharged streaming growth, with Chapek leaning into streaming by reorganizing the company to focus on digital.
Chapek announced earlier this month that the company would freeze hiring and stop all non-essential travel, with layoffs likely to follow as his executive team sought to trim costs. While his elevation within the company was due to his business acumen, he developed a reputation for having an elevated sense of taste and creative vision, skills he continued to put to use after stepping aside as CEO in 2020.
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