NEWS

By Geoff Borgonia November 21, 2022

Bob Iger is back as Disney CEO, replacing Bob Chapek

The Board of Directors of the Walt Disney Company have made a shocking decision to replace Bob Chapek with his predecessor Bob Iger as CEO.

Bob Iger had been the chief executive of the Walt Disney Company for 15 years until 2020. His successor, Bob Chapek, took over since then.

Bob Iger was the CEO when the Walt Disney Company acquired Pixar in 2006, the Marvel Comics properties in 2009, and Lucasfilm in 2012.

While this collectively cost $15 billion, the profits from these acquisitions over the past several years have more than made up for it.

Disney reported $1.5 billion in losses from the Disney+ streaming service. A significant factor came from costs of original programming.

Within the day of Bob Iger’s return as CEO, The Walt Disney Company’s shares have rallied up to over 8% pre-market trading this Monday.

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