On November 20, 2022, Disney made an announcement that shocked both shareholders and Disney fans alike – former CEO Bob Iger has returned and replaced Bob Chapek as CEO of the Walt Disney Company.
In February of 2020, Bob Iger stepped down as CEO as the threat of COVID-19 loomed, handing the position over to Bob Chapek. Because of this unfortunate timing, Chapek was never truly able to use his power and position properly with quarantines and restrictions affecting the company severely. As a result, he was forced to lay off thousands of Disney employees, a decision that would also damage his reputation. However, these weren’t the only reasons Chapek was disliked as he made numerous other decisions that hurt the company. Other than leaving many workers without a job, it’s also said that he focused more on Disney’s streaming service Disney+ while neglecting movies and theme parks, raising the prices of the parks to extremely high amounts, and causing stock prices to plummet. Iger, on the other hand, was universally liked and is regarded as one of the best and most successful executives in the entertainment industry. The two men have had numerous disagreements over the future of the company, but Iger always came out on top when it came to popularity with employees and fans.
Because of his many years spent at Disney, Iger never truly left when he retired. He still helped with many things, but Chapek was the one in charge. Perhaps now with Iger back in control, Disney will once again see a resurgence, delighting many more fans to come.
By Kiera Stevenson’24 Staff Writer