Bob Iger has returned as the CEO of the Walt Disney Company

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Unexpected change at the : after less than a year in retirement, Robert (Bob) Iger has returned as the CEO for a second time for the next two years and Bob Chapek who just renewed his contract set to run until 2025 is out. “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,” said board chair Susan Arnold in the official announcement on Sunday night. “We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” she added. Iger spent 15 years as CEO and was instrumental in acquiring major brands like Marvel and Lucasfilm, the home to Star Wars.

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As the change was made, Bob Iger said himself: “Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe – most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration (…) I am extremely optimistic for the future of this great company.”