Bob Iger resumes his role as CEO of Disney
With Bob Iger at the helm, the entertainment giant Disney further expanded its Herculean achievements by acquiring Pixar, Marvel and Star Wars. In 2020, and after 15 years at the helm of the Mickey Mouse company, Iger left his position as CEO , a position that he is now returning to help Disney navigate the turbulent waters of the crisis that the American multinational is currently facing. . The return of Bob Iger, 71, to the top of Disney has been quite a surprise, although his return to the entertainment company will be merely temporary . As Disney confirmed yesterday in a statement , Iger will be CEO of Disney for a period of two years after the resignation of Bob Chapek, who until now was CEO of the company.
Bob Iger returns like a prodigal son to Disney
At a difficult time for the Mickey Mouse company in particular and the entire entertainment industry in general. After all, the group must top industry data currently deal with the consumer’s diminished willingness to invest in entertainment in the current inflationary context. In addition, the income obtained by Disney through its cable television channels in the United States is going downhill and without brakes. Disney also has another important problem on the table, that of streaming video. Although services like Disney+ are growing meteorically , they are not able to leave the red numbers behind. During the last quarter alone, Disney+ spit out operating losses of $1.47 billion. In Disney+, billions of dollars have been invested in the production of original series and films that the money from subscriptions has not yet been able to cover.
Bob Iger and Bob Chapek's relationship
Following the presentation of Disney’s latest disappointing quarterly results, Chapek announced austerity measures such as hiring TH Lists freezes and job cuts . However, such measures were insufficient in the eyes of a good number of investors. This is the case of billionaire Dan Loeb, who urged Disney to get rid of the ESPN channel. Iger prides himself on being the architect of the current Disney group. During his tenure, the entertainment titan bought the Pixar animation studio, the Marvel and Star Wars franchises, and the 21st Century Fox film studio. And he also made Disney promptly get on the streaming video train. Chapek, who before becoming Disney’s CEO was responsible for the company’s theme parks division, took over from Iger in 2020 .
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