Disney pulled a surprising move over the weekend, firing CEO Bob Chapek and bringing back former CEO Robert Iger to replace him...
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” board chair Susan Arnold said in a statement. “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.”
Iger previously ran Disney from 2005, until his retirement in 2020, a highly successful period for the company.
Chapek departs after just two shaky years at the helm -- a Nov. 8th earnings report showed Disney's stock price down 41 percent since January, while its streaming division lost $1.5 billion in the last year.
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