The Walt Disney Company, the world’s largest media company, known for its content from cinema to television, from amusement parks to games, hosted a shocking decision in 2020. Robert “Bob” Iger, who has been the company’s CEO since 2005 and has been running from success to success, resigned from his position.
Disney CEO did not share the reason for this decision when he left, he explained it months later. On the other hand, another surprise came from Iger today.
Bob Iger becomes CEO of Disney again:
According to the statement made by the Disney Board of Directors, Bob Iger has taken over the CEO position he left. Thus, the current CEO of Disney, Bob Chapek, said goodbye to his seat.
So why did Iger leave the company, why is he back now?
Bob Iger shared the rationale for his decision in a statement made months after he left the company. Iger’s explanation was as follows:
“Over time I started to listen to other people less, perhaps being a little less tolerant of other people’s opinions, perhaps because I was a little more confident, which is what happens when I get stronger.”
The reason for Iger’s return was also included in the company’s statement shared today. Susan Arnold, President of The Walt Disney Company, shared the reason for Iger’s return:
“The board concluded that as Disney enters an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company during this crucial period.”
Of course, the company’s performance in recent months may be playing a big role behind this decision. Disney has lost nearly 40% of its value since the beginning of this year alone. We’ll have to wait and see if company veteran Iger can pick up the situation.
What has Bob Iger accomplished with Disney?
Bob Iger achieved many successes during his tenure as CEO of Disney. During his tenure, Iger increased the value of the company from $48 billion to $257 billion. However, all of the following acquisitions took place while under Iger’s management:
- Pixar (2006) – $7.4 billion
- Marvel Entertainment (2009) – $4 billion
- Lucasfilm (2012) – $4.06 billion
- 21st Century Fox (2019) – $71.3 billion
Marvel Entertainment, which has come to the fore in the above acquisitions, has reached a value of $ 51 billion according to Forbes’ 2021 estimates.
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