Bob Iger, the enterprising entertainment executive who brought Star Wars, Pixar and Marvel under the Disney marquee and challenged the streaming dominance of Netflix, will replace his handpicked successor, CEO Bob Chapek, whose two-year tenure has been marked by clashes, missteps and a weakening financial performance
fell well short of Wall Street expectations on both profit and revenue, a rarity, sending shares tumbling 12%. Shares of The Walt Disney Co. are down 40% this year.
The tumult atop Disney came quickly with reports that Iger was first approached by board members about a possible return Friday. Iger was Disney's public face for 15 years as chief executive before handing the job off to Chapek in 2020, a stretch in which he compiled a string of victories lauded in the entertainment industry and by Disney fans.
The company became embroiled in a public fight with Gov. Ron DeSantis, after Disney's home state of Floridathat forbids instruction on sexual orientation and gender identity in elementary schools up to third grade, a rule critics dubbed the"don't say gay" law. It was highly unusual for conflicts at Disney to spill into the public sphere but rightly or wrongly, it seemed to be a trait under Chapek.after Scarlett Johansson sued Disney over her pay for"Black Widow." Johansson's potential earnings were tied to the box office performance of the 2021 Marvel film, which the company released simultaneously in theaters and on its streaming service Disney+ for a $30 rental.
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