Business & Finance / 23 November 2022
Disney replaces one Bob with another
It’s a case of in with the old Bob and out with the new Bob at entertainment giant Disney… The company’s board has announced a shock move to replace CEO Bob Chapek with former long-time boss Bob Iger, who officially retired last year. During his 15 years at the helm, Iger was a popular figure, overseeing major money-making moves to align Disney with the likes of the Marvel and Star Wars film franchises and the Pixar animation studio. Iger’s been tasked with getting the company back on track after a rocky post-COVID period and significant losses by its streaming service… Disney+ lost nearly US$1.5bn in the 3 months to the end of September… News of Iger’s return saw the company’s share price rise by more than 8% – and one expert reckons his return is “probably the most significant piece of corporate upheaval since [Steve] Jobs went back to Apple”.
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