Disney’s board of directors played a very unexpected CEO change, which happened in early 2020 and then caught everyone by surprise as well – the famous Bob Iger immediately takes over the position of CEO, replacing his former successor Bob Chapek. Iger, who is also the largest shareholder of Disney and held the position of CEO from 2005 to 2020, under the new contract will “manage” the media giant for at least two more years, and one of his main tasks will be the selection and preparation of a successor for the long term.

Of course, Bob Chapek was also a protégé of Bob Iger, but apparently the board of directors was not very happy with his work. Capek was called a worthy replacement for Iger, as Tim Cook was for Steve Jobs. However, immediately after the transfer of management, several scandals erupted that significantly undermined Bob Chapek’s authority and reputation – such as the conflict with Scarlett Johansson over the simultaneous release of the comic book “Black Widow” in cinemas and on Disney+ and the lack of quick reaction and lack of support of the LGBTIQ community in response to the controversial bill “Don’t Say Gay” According to the provisions of the initiative, elementary school teachers are prohibited from even acknowledging the existence of homosexuals, and in case of violations, parents can condemn the educational institution. in Florida

Email from Bob Iger to Disney staff, 07:19 pic.twitter.com/IiTQvBYYZp

— The Ankler (@TheAnkler) November 21, 2022

After assuming the position of CEO, Bob Chapek faced a difficult task of taking the entire legacy of Disney and turning it into an asset for future generations. In practice, this meant going beyond the traditional media and entertainment company and bringing more technology companies into the classic business model. However, at the beginning of the year, many began to get the impression that Bob Chapek was not coping and was losing control of the kingdom, while Bob Iger was doing a great job of keeping everything under control. It was under his leadership that Disney bought Pixar, Marvel, Lucasfilm and 20th Century Fox, as well as launched the direction of online cinemas and successfully rebuilt the business after the COVID-19 pandemic.

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At the beginning of the month, Disney published a financial report for the quarter that disappointed investors – neither the theme parks nor the media units reached the revenue values ​​​​expected by analysts. The streaming business is showing positive momentum, with more subscribers opting for packages that combine Disney Plus, Hulu and ESPN Plus, but the cost of tariffs is also rising. The new ad-supported Disney Plus plan is set to launch on December 8. Interestingly, the board brought back Bob Iger a week after Bob Chapek announced massive layoffs amid slowing growth and a general recession. It will be interesting to see how Disney’s strategy will change after the return of Bob Iger, who once pushed Disney into the streaming wars.

In an official press release, Disney Chairman Susan Arnold thanked Bob Chapek, who dedicated 30 years of his life to the company and the last three as CEO. At the same time, Susan Arnold noted that Disney is facing a difficult stage in the transformation of the industry, and the board of directors considers Bob Iger the most suitable leader to overcome this stage. Interestingly, Bob Chapek was not quoted in the press release, and he has not yet commented on his resignation.

Disney+ already has more than 164 million subscribers, the service is preparing to launch a more affordable tariff with advertising