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Robert Iger Returns as Disney CEO as Bob Chapek Is Ousted

Iger will run the entertainment company he left only late last year; company’s stock price shot up in premarket trading
In an email to employees Sunday night, Robert Iger said he was returning to the company. PHOTO: JORDAN STRAUSS/ASSOCIATED PRESS

In an email to employees Sunday night, Robert Iger said he was returning to the company. PHOTO: JORDAN STRAUSS/ASSOCIATED PRESS

Walt Disney Co.’s DIS 6.98%increase; green up pointing triangle board of directors on Sunday night replaced Chief Executive Bob Chapek with Robert Iger, the company’s former chairman and CEO who left the company at the end of last year, according to a company announcement.

“The board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period,” said Susan Arnold, chairman of Disney’s board, in a statement.

“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” she added.

The surprise change comes at a tumultuous time for Disney.

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Author: Editors Desk

Source: WSJ:

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