New York CNN Business —
Bob Iger is returning to the Disney kingdom he reigned over for 15 years.
Iger — who said last week he would once again become Disney CEO — is holding a town hall with employees at the company’s Burbank, California headquarters on Monday, Iger’s first day back on the Walt Disney Studio lot.
The return of Iger — one of the most successful CEOs in the history of the company — was a stunning development at Hollywood’s biggest studio.
Iger replaced Bob Chapek, who had a short but tumultuous time as the head of Disney. Chapek took over for Iger in early 2020 just before the onset of the Covid-19 pandemic.
The announcement comes at a time of great difficulty and scrutiny for Disney, which faces challenges across its media empire. Its share price has been sluggish and although its streaming business is growing, it is losing billions of dollars.
Iger didn’t waste any time putting his mark on the company.
Soon after he was announced as CEO, Iger reorganized Disney’s content distribution structure and said that Kareem Daniel, the chairman of Disney’s Media and Entertainment Distribution unit, would leave the company.
