Disney New CEO: Bob Iger returns to the post of Disney’s CEO, the company needs new confidence in the new environment.
Disney, one of the biggest world-class companies in the world of cinema, has shown the way out to its current CEO, Bob Chepauk. Disney’s offices around the world have been in turmoil since the recent quarterly results came out. Bob Iger, who has worked in the company for the first 15 years, is returning as the CEO of Disney. Disney rose to fame and business heights during Iger’s tenure, and it was during his tenure that Disney absorbed the entertainment businesses of Pixar, Lucasfilm, Marvel, and Fox.
The Walt Disney Company has entrusted the responsibility of making Bob Iger the head of the company for two years. He will replace Bob Chepak, the company’s CEO till now. The stir of this big decision of the company is being felt in the entertainment world around the world. Chepauk has been led by the company at a time when its earnings have been much lower than expected and creative groups have been criticized for their efforts to cut costs. People also did not like his decision to increase the prices of tickets for Disney’s theme parks.
A statement issued by Disney Chairman Susan Arnold said, “The company’s board recognizes that Disney’s journey forward is about to begin during a difficult period of change in the entertainment world.” Bob Iger is best suited to lead the company at this critical time. Arnold also praised Bob Chepauk for his leadership during the Corona epidemic, although his emphasis was more on restoring his reputation within the company.
Iger is deeply respected by Disney’s senior leadership team, and there has been an uncanny sense of respect among Disney employees around the world. The company’s strong line-up of entertainment content is a solid testament to his leadership and vision.” In a statement, Iger said he was thrilled about this new responsibility and was completely optimistic about Disney’s future.
Bob Iger, 71, first took over as Disney’s CEO in 2005. Then he replaced Michael Eisner. Iger had won the trust of both the stock exchange and Hollywood because of his efficient leadership. His respect for creators has been discussed all over the world and through the acquisition of other companies, he created a domineering image of Walt Disney in the entertainment world. It was during Iger’s tenure that Disney rose to fame and business heights, and it was during his tenure that Disney absorbed the entertainment businesses of Pixar, Lucasfilm, Marvel, and Fox.
In the OTT world, Disney Plus has the largest number of subscribers in the world these days. During the results of the last quarter, the company had revealed that the number of its customers has reached 23.50 crore. The interesting fact is that the price of Disney’s shares in the stock market has fallen almost as much as it was when Iger left the company’s last CEO post. Disney’s shares touched a little above $200 in March last year, but after a continuous decline, it fell to $91.80 last week.
