(Boursier.com) — waltz disney rose 7% to $98.2 on Wall Street. The Californian group from Burbank has indeed announced the return of Robert A. Iger at its head, as general manager, with immediate effect. Mr. Iger, who has spent more than four decades with the company, including 15 years as CEO, has agreed to return to this position for two years, with the mandate of the board of directors to define the strategic direction for renewed growth and to work closely with the Board of Directors to find a successor to lead the company at the end of his term. Mr. Iger succeeds Bob Chapek, who has resigned. Disney’s recent results, in particular its massive losses on the Disney+ streaming service, may have prompted this change, as the stock price has meanwhile returned to its eight-year lows on Wall Street.
“We thank Bob Chapek for his service to Disney over his long career, including guiding the company through the unprecedented challenges of the pandemic,” said Susan Arnold, Chairman of the Board of Directors. . “The Board of Directors has concluded that as Disney enters an increasingly complex period of industry transformation, Bob Iger is uniquely positioned to lead the company through this pivotal time.” “Mr. Iger has the deep respect of Disney’s leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and is greatly admired by the Disney employees around the world, which will allow for a seamless transition of leadership,” she said. The position of Chairman of the Board remains unchanged, with Ms. Arnold occupying this position.
“I am extremely optimistic about the future of this great company and delighted that the board has asked me to return,” said Iger. “Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the world, and especially in the hearts of our employees, whose dedication to this company and its mission is inspiring. I am deeply honored to be asked to once again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unparalleled and bold storytelling.”
During his 15 years as CEO, from 2005 to 2020, Iger helped build Disney into one of the world’s most successful and admired media and entertainment companies with a strategic vision focused on creative excellence, technological innovation and international growth. He expanded Disney’s legacy of unprecedented storytelling with acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and quintupled the company’s market capitalization during his tenure as CEO. Iger continued to lead Disney’s creative efforts until his departure as executive chairman last December, and the company’s strong content pipeline is a testament to his leadership and vision, Disney adds.
Iger served as Chief Executive Officer and Chairman of The Walt Disney Company from 2005 to 2020, then as Executive Chairman and Chairman of the Board of Directors until 2021.