After less than a year of retirement, Disney unexpectedly named Bob Iger their new CEO, surprising the Internet. Why Retired Bob Iger, then? Let’s investigate.
Bob Iger’s return to Disney as their new CEO was a huge deal for the fans, Company members, and staff. Iger was the man behind Disney reaching good heights in two decades.
Disney is in good hands with Bob Iger as their bossman. The man will work as their CEO till 2024.
Why Did Bob Iger Retire?
Everyone was happy after Disney brought back their favorite CEO, replacing Bob Chapek in November 2022. This happened just less than a year after Iger’s retirement.
Disney re-instated Iger’s position as the Company’s head man and announced that Bob Chapek had stepped down.
Earlier in 2020, he took his retirement, and Bob Chapek handled the situation of Disney up to this point.
Disney appointed Iger as their CEO for the first time in 2005. The man has successfully handled the responsibility extraordinarily well over his time.
Although the man was happy to uplift the Company’s status, he attempted to retire four times earlier for his reasons.
Whatever the reason, Iger finally retired in 2020, ceding the role to Chapek. However, he effectively stayed as Disney’s Executive chairman until December of the same year, even after taking the exit from the CEO post.
This shows the man’s dedication toward his work and love for Disney.
The love is from both sides as fans and staffs were more than happy to welcome Iger for his two-year added deal as their new CEO. Iger will be the Company’s CEO for the next two years until 2024.
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Why Was Bob Iger Replaced? Came Back Again As Disney’s CEO
Earlier, Iger resigned from his CEO post at Disney on good terms in 2020. Iger planned for his retirement and maybe wanted to explore his personal life more at this point.
Moreover, Iger attempted to retire four times before his official goodbye in 2020.
As mentioned earlier, Iger was replaced with Bob Chapek, who handled Disney during the pandemic. However, Disney fans and other vital members were not happy with Chapek’s tenure.
Seeing Disney’s growth during Iger’s tenure and the success of Marvel Entertainment, mainly MCU, they brought back and appointed Iger as their new CEO in 2022. He will continue to work as the Company’s head up to 2024 until he finds his new successor.
Bob Iger Return To Disney
As Disney fought the struggle against Netflix in the streaming wars, Iger left the company on a high note.
Disney grew as a Company and made much progress during his tenure. Disney acquired Marvel Entertainment, Pixar Animation Studios, and 21st Century Fox.
Iger’s tenure boosted the Company’s market capitalization five-fold.
During Iger’s first reign, Disney’s yearly shareholder returns exceeded 14%. The Company beat its rival Comcast and the broader stock market at the time.
During his second tenure, Iger worked with the board and set Disney on a path to new growth by identifying a successor.
The Company sources were proud to say that Iger’s leadership was the reason for Disney’s growth. His speeding growth caught the employees by surprise.
After Bob’s return, Netflix co-founder Reed Hastings took on Twitter and wrote that Iger was amazing and he would hope Iger to run for president.
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