Bob Iger is back as CEO of Disney. Bob Chapek, who had only became CEO in February of 2020 gets his golden parachute to the tune of at least $20 million dollars.
From Alex Weprin at the Hollywood Reporter:
In a stunning turn of events, The Walt Disney Co. says that Bob Chapek will step down as CEO, with Bob Iger returning to lead the company. Disney’s board of directors announced the decision Sunday night.
Surprising that they did this late on a Sunday night but also probably a good move. It’s been no secret on Disney forums that there have been major problems with Chapek running the show. Having said that, I always thought Iger got out at the right time. In the stormy weather of today’s economic and political climate, I’m surprised he’s back but it sounds like he is too:
Iger even acknowledged in an email to Disney employees Sunday that he is returning “with an incredible sense of gratitude and humility — and, I must admit, a bit of amazement.”