Disney had just renewed Bob Chapek's contract in June, and Bob Iger had said publicly he wouldn't return.
Further, the board will need to tell employees and investors what changed. Either Disney's board wasn't truthful in its confidence in June, or something so drastic has happened between now and then to change its mind. Disney's fiscal fourth-quarter results weren't good, but Chapek also told investors streaming losses hadIger-Chapek awkwardness
Iger also returns under less-than-ideal circumstances. He'll walk back into the job as a conquering hero to an employee base desperate for leadership and the prospects of better times ahead. But he has repeatedly said he wouldn't return as CEO, and he has now earned a reputation for undermining several hand-picked successors.
Iger's failure to walk away from Disney is a business school case study on how not to pass the baton. That's not to say he isn't the right man for the job, but coming back to replace Chapek
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