Categories: Economy

Veteran Disney boss Bob Iger in surprising return

Veteran Disney boss Bob Iger shocks Hollywood by announcing return less than a year after retiring

Bob Iger has stunned Hollywood by returning as CEO of Disney, less than a year after his retirement.

Disney shares soared nearly 7 percent in early trading on hopes Iger can guide the media giant through turbulent times.

It comes a couple of weeks after the company’s streaming service Disney+ posted a £1.3bn loss in its most recent quarter.

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Mickey’s take: Disney shares soared nearly 7% on news that Bob Iger (pictured) will return as Disney CEO, less than a year after his retirement.

He replaces 62-year-old Bob Chapek, who was handpicked by Iger to take over in February 2020, but the relationship between the two men quickly soured. Iger, 71, agreed to serve another two years on the job.

In his previous role he oversaw a series of large acquisitions, buying the animation studio Pixar, the Marvel comics company, 21st Century Fox and Lucasfilm, the home of Star Wars. He also launched Disney+.

“I’m delighted that the board is asking me to come back,” Iger said. But in an interview he gave to the New York Times in January, he said it was “ludicrous” to suggest that he could return. You can’t go home. I’m gone,’ he told the newspaper.

Jacky

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