Disney, in a shocking late Sunday announcement, said it had re-appointed Iger as chief executive, effective immediately, after Iger’s handpicked successor as CEO, Bob Chapek, came under fire for his management of the entertainment giant.
Iger will help the company’s board develop a new successor, Disney said in a release.
Chapek was named chief executive in February 2020, succeeding Iger, who had previously said he wouldn’t return to the role.
Iger, who held the CEO role for 15 years at Disney, had favored Chapek as his successor.
Chapek distanced himself from Iger with a series of decisions, including his new approach to streaming prices for Disney+, Hulu and ESPN+.