Get All Access for $5/mo

Bob Iger Returns as Disney CEO and Bob Chapek Steps Down, Effective Immediately The Disney veteran is returning to the company less than a year after his retirement.

By Madeline Garfinkle Edited by Jessica Thomas

Opinions expressed by Entrepreneur contributors are their own.

Jerod Harris | Getty Images
Bob Iger in 2022

From one Bob to the next — Disney has announced that former leader Bob Iger will replace CEO Bob Chapek, who is stepping down from his position. The transition is effective immediately, the company announced on Sunday.

"I am extremely optimistic for the future of this great company and thrilled to be asked by the board to return as its CEO," Iger said in a statement.

Iger spent more than 40 years at the Walt Disney Company — 15 of which he served as CEO — before Chapek replaced him in that role. Although Chapek's reign was short-lived at just under three years, his time as CEO was marked by both controversy and obstacles, from the pandemic to a political scuffle over Florida's "don't say gay" bill and a lawsuit with Scarlett Johansson.

Related: 'I Am Fully Aware This Will Be A Difficult Process': Disney to Freeze Hiring, Possibly Conduct Layoffs, Per Internal Memo

Still, the company's board of directors voted unanimously to extend Chapek's contract by three years in June. Disney's stock fell earlier this month upon the release of disappointing Q4 earnings, but it rebounded Monday when it announced Iger's return.

"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," Susan Arnold, chairman of the Disney board, said in a statement.

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business Process

How CEOs Can Take Control of Their Emails and Achieve Inbox Zero

Although there are many methodologies that leaders can use to manage their emails effectively, a consistent and thought-through process is the most effective way to systemize and respond to emails and is a step of stewardship for the effective leader.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Science & Technology

5 Automation Strategies Every Small Business Should Follow

It's time we make IT automation work for us: streamline processes, boost efficiency and drive growth with the right tools and strategy.