In 2005, Iger took over as CEO after Michael Eisner stepped down. He remained in that position until 2020. The Walt Disney Company made significant acquisitions during Iger’s first term. This includes those of Pixar, Marvel Entertainment, Lucasfilm, and the entertainment assets of 20th Century Fox. The company also expanded its ventures into theme parks and changed its business models.
Last week, Bog Iger took over as CEO of The Walt Disney Company on a two-year contract with the intention of guiding the media and entertainment behemoth back to growth. Following Disney’s recent disappointing quarterly earnings report, former CEO Bob Chapek implemented a hiring freeze, which the CEO addressed during his first company-wide meeting with employees.
Iger’s Disney return came as a surprise to many. However, it cannot be denied that the business advanced significantly under his direction through the opening of theme parks both domestically and abroad, the acquisition of different businesses, and the realignment of the animation studio’s priorities. As a result, it makes sense why executives at the business might think he would make a great replacement for Chapek after the latter left. After all, the business experienced growth and extremely lucrative endeavors at both the box office and their parks.
According to THR, Iger has addressed recent speculations about his aspirations for the company’s future at a town hall gathering. Insiders had previously claimed that the CEO was seeking a merger with Apple, where he had previously served on the board of directors, to make up for mistakes made during Chapek’s leadership and to establish his legacy. Iger, however, dismissed the claims as “pure speculation.” He also reaffirmed his commitment to acting in the company’s best interests before making any further significant choices.
Many were taken aback by news of Iger’s rumored intention to sell the company to Apple, given The Walt Disney Company’s extensive dominance over the market and pop culture through its numerous properties and business endeavors. Higher-ups may view Iger’s return as an effort to revitalize the company, as he did after the turbulent final years of Michael Eisner’s rule, rather than having to result in an immediate merger.
Whereas Chapek’s tenure saw the company subject to numerous controversies and failures. It’s possible that the returning CEO already has long-term plans to assist Disney in achieving its prior triumphs, given that Iger reportedly came to regret Chapek’s hiring and instantly ruled out the notion of a sale to Apple.
Based on a true story.
Is it worth the price?
Class will be in session on February 3.