Bob Iger will take over as CEO from Bob Chapek at The Walt Disney Company, according to a recent announcement. On November 20, 2022, the Disney board of directors made the announcement, with Susan Arnold, the board chair, making the following remarks:
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The Board of Directors has determined that Bob Iger is best positioned to lead the Company through this critical moment as Disney embarks on an increasingly challenging phase of industry upheaval. “We appreciate Bob Chapek for his many years of service to Disney, including guiding the business through the extraordinary difficulties of the epidemic.”
Before departing, Chapek had a new deal inked until June 2022. Iger promised that he would return with gratitude and humility in an email to the workforce.
Iger has agreed to serve as CEO for two years with a mandate from the Board to establish the strategic direction for renewed development and work with them to create a successor to lead the firm after he completes his term. The Board also indicated that Iger’s new tenure would be temporary. Iger also spoke about his comeback in a statement, saying:
Disney and its outstanding brands and franchises occupy a special place in the hearts of so many people all over the world, particularly in the hearts of our employees, whose dedication to this organization and its goal is an inspiration. “I am highly excited about the future of this outstanding firm and delighted to have been invited to return as CEO by the Board.”
“I am beyond honored to be asked to lead this exceptional team once more, with a clear purpose focused on creative brilliance to inspire generations via unmatched, bold storytelling,” the leader of the team said.
In a statement, Bob Iger said that he will address the company on Monday, November 21, 2022, and stated that despite the company’s many problems, he had learned from his time at Disney that its employees and cast members often manage to achieve the seemingly impossible despite uncertainties.
The wealth of Bob Iger
In addition to serving as the CEO of The Walt Disney Company from 1994 to 1995, Bob Iger also served as president of ABC Television. He was named Disney’s president in 2000, and Michael Eisner succeeded him as CEO in 2005.
Iger was named president of ABC Entertainment in 1989, president of ABC Network Television Group in 1993, and vice president of Capital Cities/ABC in 1994. Despite The Walt Disney Company’s 1996 acquisition of Capital Cities/ABC, Iger remained its COO and eventually rose to the position of president.
Iger, Bob
CelebrityNetWorth estimates the 71-year-net-old’s value to be about $350 million. While The Walt Disney Firm experienced considerable revenue growth during his time as CEO, it also increased his wealth.
In 2006, Bob Iger announced plans to buy Pixar for an estimated $7.4 billion. After buying Marvel Entertainment for $4 billion in 2009, Bob was named chairman of Apple, Inc.’s board of directors in 2011.
LucasFilm was purchased by Iger for $4 billion in 2012, enabling The Walt Disney Company to purchase the rights to the Star Wars and Indiana Jones franchises. The purchases were pricey, but the firm saw a return on investment within a few years. The Force Awakens brought in $2 billion in 2015, while Disney recovered $4 billion from its acquisition of Marvel in 2014.
In 2018, Disney finalized the purchase of 21st Century Fox with Iger’s support, and his time as CEO was extended. In 2017, Disney renewed the contract again, but Bob Iger stepped down in 2020.
The market value of Bob Iger’s $1.8 million worth of Disney stock was $130 million, and up until his departure, his total compensation was in the $40–$50 million range.
Bob Iger’s yearly income was $44.9 million in 2015, and according to Forbes, he got $3 million in 2019 paired with a bonus of $21.8 million. His overall compensation increased to $47.5 million as a result of stock awards and options worth $19.6 million. Iger gave $5 million in January 2021 to help small businesses that were struggling to survive after the Covid-19 outbreak.
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