The Walt Disney Corporation made a major announcement late Sunday night when executives confirmed CEO Bob Chapek will be replaced by former boss Bob Iger “starting immediately.”

 

From Fox News:

Bob Iger has returned as chief executive of the Walt Disney Company after less than a year in retirement.

The company’s board announced Iger’s stunning return Sunday night and said Bob Chapek, who succeeded Iger in 2020, had stepped down from the position.

“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,” board Chair Susan Arnold said in a statement.

Iger was Disney’s CEO from 2005 to 2020, then served as the company’s executive chairman through 2021 before retiring. Iger will now return as CEO for two years.