The Walt Disney Company has officially announced that Bob Iger would succeed Bob Chapek as CEO. The announcement was made by Disney’s board of directors on November 20, 2022, with board chair Susan Arnold stating:
“We appreciate Bob Chapek’s many years of service to Disney, which included steering the company through the exceptional challenges posed by the epidemic.”
The Board of Directors has determined that Bob Iger is best suited to lead the Company through this important time as Disney enters a more difficult phase of industry disruption.
Chapek signed a new deal in June 2022 prior to his departure. Iger informed colleagues through email that he will return with gratitude and humility.
The Board also announced that Iger’s new tenure would be temporary and that he has agreed to serve as CEO for two years, with a mandate from the Board to define the strategic direction for renewed development and collaborate with them to create a successor to lead the company after he completes his term.
Iger also addressed his reappearance in a statement, stating:
“I am really enthusiastic about the future of this exceptional company and thrilled to have been asked to return as CEO by the Board.” Disney and its exceptional brands and franchises hold a special place in the hearts of so many people throughout the world, especially in the hearts of our employees, whose commitment to our organization and its mission is an inspiration.”
The statement continued,
“I am ecstatic to be asked to lead this wonderful team once more, with the goal of inspiring generations via exceptional, audacious narrative based on creative brilliance.”
Bob Iger stated in a statement that he will address the company on November 21, 2022, and underlined that despite the company’s many challenges, he learned from his time at Disney that its employees and cast members do the impossible even in the face of uncertainty.
What is Bob Iger’s Net Worth?
Bob Iger rose to popularity as the CEO of The Walt Disney Company, but from 1994 to 1995 he also served as the president of ABC Television.
In 2000, he was named president of Disney, and in 2005, he succeeded Michael Eisner as chief executive officer. In 1993, Iger was designated President of ABC Network Television Group and Vice President of Capital Cities/ABC.
Also, In 1989, he was elected President of ABC Entertainment. He was chosen COO of Capital Cities/ABC in 1994. Despite The Walt Disney Company’s 1996 acquisition of Capital Cities/ABC, Iger remained its COO and later became its president.
The net worth of the 71-year-old is approximately $350 million. While his term as CEO of The Walt Disney Company generated enormous revenues for the corporation, it also contributed to his overall income.
In 2006, Bob Iger announced the acquisition of Pixar for around $7.4 billion. In 2009, Bob acquired Marvel Entertainment for $4 billion, and in 2011, he was appointed chairman of the board of Apple, Inc.
Also, In 2012, Iger paid $4 billion for LucasFilm, enabling The Walt Disney Company to obtain the rights to the Indiana Jones and Star Wars properties.
The expenditures were costly, but the return on investment was realized within a few years. Disney earned $4 billion in 2014 on the acquisition of Marvel, and The Force Awakens grossed $2 billion in 2015.
In 2018, with Iger’s assistance, Disney completed the acquisition of 21st Century Fox, and his tenure as CEO was extended. Disney renewed the deal in 2017, but Bob Iger resigned in 2020.
Bob Iger’s $1.8 million in Disney shares had a market value of $130 million, and his total compensation until his departure ranged between $40 and $50 million.
2015 Bob Iger’s annual income was $44.9 million, and in 2019 he made $3 million plus $21.8 million in bonuses, according to Forbes.
His overall earnings reached $47.5 million after receiving $19.6 million in stock awards and options. Iger committed $5 million in January 2021 to support small businesses battling for survival in the wake of the Covid-19 outbreak.
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