Disney Shocker - Bog Iger In - Bob Chapek Out What happend?
Bob Iger is returning as Disney CEO in a shocking leadership change replacing CEO Bob Chapek.
Image Credit : Google
Mr. Iger previously served as Disney’s chief executive from 2005 to 2020, a run that was widely seen as one of the most successful in Hollywood history.
Image Credit : Google
Mr. Iger had delayed his retirement from Disney three times and, in some ways, seemed reluctant to leave the company when he did.
Image Credit : Google
Iger handpicked Chapek to follow him as CEO, but a clash in their styles quickly became clear.
Image Credit : Google
Mr. Iger, 71 has signed a two-year contract after the board determined that Mr. Chapek, 62, had done irreparable damage to Disney image.
Image Credit : Google
Under Chapek, Disney+ has grown to 235 million subscribers (including ESPN and Hulu), but the company lost $1.5 billion on streaming last quarter.
Image Credit : Google
Its market capitalization has also fallen from $257.6 billion in Iger's last full year to $163.5 billion.
Image Credit : Google
The move comes as a surprise considering that Disney had renewed Bob Chapek's contract for three years
Image Credit : Google
Disney recently announced plans to freeze hiring and said that layoffs are likely to come soon.