admin On Sunday, Walt Disney the world’s largest entertainment company announced that Bob Chapek was stepping down from the CEO post and Bob Iger rejoining the Disney. Iger ran the company for 15 years before retirement in December 2021. Walt Disney Co. decided to pay $27 million yearly for returning back as CEO under a new 2years contract. Bob Iger will also receive the bonus as equal to the base salary. He will also be honored with the stock awards with the targeted value of $25 million every year.
Bob Iger always remain progressive to the company. He flourished the company’s theme park services like opening of Avatar world, TOY Story Land, Star War’s Galaxy’s Edge, and Shanghai Disneyland and also kept services comparatively low-cost. As Iger retired from Disney on a high note that company is battling against Netflix in the streaming war. The high interest rate and economic slowdown led company to deep loss.
Disney’s earning reports disappointed the investors that showed continuous losses at its streaming media unit that includes Disney+ and all this happens under the influence of Bob Chapek during Pandemic. “Board has decided to overcome this cost cuts and complex tenure of industry, Bob Iger lead the Company through this pivotal period,” mentioned Susan Arnold, Chairperson of Disney’s Board.
Iger has agreed to rejoin the post for 2 years and also aimed to find a leader to lead the company. He said “I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its Chief Executive Officer. He is one of the last honorary knights to be approved by the late Queen Elizabeth II in September for his contribution to UK-US relation.
The internet is happy about the news Bob Iger rejoining Disney so soon by replacing Chapek. Disney gained the profit of 6% amid Iger returns as CEO was declared.
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