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   From: invalid@dont-email.me   
      
   After less than a year in retirement, Bob Iger has returned as the CEO of   
   the Walt Disney Company.   
      
   The board just sent out a notice that Bob I. is back and recently re-upped   
   Bob Chapek is out. Having handed over the baton as CEO in February 2020 to   
   Chapek — a stunning move unto itself at the time — and then serving as   
   executive chairman until the end of 2021, Iger will be CEO for a second   
   time for the next two years, the company says. Iger had previously been   
   top dog at the House of Mouse from 2005 for 15 years, the final stage of   
   what would be a 47-year run at Disney.   
      
   “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,” said board chair Susan Arnold in   
   the official announcement (read it below), just a couple of weeks after a   
   rougher-than-expected quarterly earnings report by the company. Once a   
   overachiever buoyed by success in streaming, Disney’s stock has recently   
   sunk to a multi-year low as executives have warned of weak revenue and   
   profit gains in the year to come.   
      
   Given the considerable turbulence experienced by Disney since Iger left   
   the corner office, and also given his well-earned reputation for being as   
   smooth and diplomatic a leader as Chapek could be an awkward and untested   
   one, Iger was repeatedly asked if he would consider an encore. He always   
   steadfastly refused, recently citing his new phase as an investor and   
   industry observer with a lot more time on his hands. At 71 years old,   
   though, he is certainly not at what is considered automatic retirement age   
   in a business sector where many CEOs are active into their 80s and beyond.   
   Rupert Murdoch, coincidentally Disney’s largest shareholder, is 91 and   
   still chair of Fox Corp. and executive chair of News Corp.   
      
   ““I don’t miss my job,” Iger declared during a September sit-down at the   
   Code conference. “Retirement is great, I have a vastly different life than   
   before. Much more air in my day.”   
      
   Chapek joined Disney in 1993, leading the company’s home entertainment and   
   parks divisions before surprising most in the entire media and   
   entertainment industry by getting the nod. Kevin Mayer, who had steered   
   strategic planning and then overseen the company’s streaming efforts and   
   the launch of Disney+, was seen as a more likely successor than Chapek.   
      
   While Chapek managed to keep Disney from disaster during the onset of   
   Covid in 2020, gradually winning the confidence of investors, he had   
   rougher sledding in 2022. The company was facing an increasingly expensive   
   and difficult slog in streaming, though Disney+ continued to be a growth   
   engine. Apart from the financials, Chapek presided over the messy   
   situation in Florida involving the company’s efforts to head off the   
   state’s “Don’t Say Gay” legislation. Gov. Ron DeSantis mocked the company   
   as “woke Disney,” prompting waves of negative attention from conservative   
   media, while internally many employees were stung. Workers held walkouts   
   in many locations to express their feelings about how Disney had handled   
   the whole affair.   
      
   “We were reminded, through the passion of our cast’s reaction, how   
   important their sentiments are on these issues,” Chapek recalled last   
   month at a Wall Street Journal conference. The lesson he learned about   
   navigating thorny political matters? “Stick to your values, to your north   
   star. Simplify the cacophony of voices out there and do what you think is   
   right.”   
      
   Another misstep, which many in the industry believed would never have   
   happened on his predecessor’s watch, was publicly clashing with Scarlett   
   Johansson over the release of Black Widow. The Marvel movie had gone out   
   through the Premier Access window (a Chapek innovation during the pandemic   
   that hasn’t been used in more than a year), meaning it was available for a   
   premium on Disney+ at the same time it hit theaters. The actress sued over   
   breach of contract, saying the method of release had cost her tens of   
   millions in back-end payments. Disney hit back hard, calling Johansson’s   
   suit “especially sad and distressing in its callous disregard for the   
   horrific and prolonged global effects of the Covid-19 pandemic.”   
      
   While the suit was settled a few weeks later, the dustup — and   
   particularly the sharp-elbowed statement aimed at an A-list star — became   
   a talking point in the company’s overall dealings with talent.   
      
   Read the shocking official announcement here:   
      
   The Walt Disney Company (NYSE: DIS) announced today that Robert A. Iger is   
   returning to lead Disney as Chief Executive Officer, effective   
   immediately. Mr. Iger, who spent more than four decades at the Company,   
   including 15 years as its CEO, has agreed to serve as Disney’s CEO for two   
   years, with a mandate from the Board to set the strategic direction for   
   renewed growth and to work closely with the Board in developing a   
   successor to lead the Company at the completion of his term. Mr. Iger   
   succeeds Bob Chapek, who has stepped down from his position.   
      
   “We thank Bob Chapek for his service to Disney over his long career,   
   including navigating the company through the unprecedented challenges of   
   the pandemic,” said Susan Arnold, Chairman of the Board. “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.”   
      
   “Mr. Iger has the deep respect of Disney’s senior leadership team, most of   
   whom he worked closely with until his departure as executive chairman 11   
   months ago, and he is greatly admired by Disney employees worldwide–all of   
   which will allow for a seamless transition of leadership,” she said.   
      
   The position of Chairman of the Board remains unchanged, with Ms. Arnold   
   serving in that capacity.   
      
   “I am extremely optimistic for the future of this great company and   
   thrilled to be asked by the Board to return as its CEO,” Mr. Iger said.   
   “Disney and its incomparable brands and franchises hold a special place in   
   the hearts of so many people around the globe—most especially in the   
   hearts of our employees, whose dedication to this company and its mission   
   is an inspiration. I am deeply honored to be asked to again lead this   
   remarkable team, with a clear mission focused on creative excellence to   
   inspire generations through unrivaled, bold storytelling.”   
      
   During his 15 years as CEO, from 2005 to 2020, Mr. 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   
   on Disney’s legacy of unparalleled storytelling with the acquisitions of   
      
   [continued in next message]   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)