Capek returns as Disney CEO Bob Iger

Thomas C. Arnold

November 20, 2022

In a stunning twist, Bob Chapek is stepping down as CEO of The Walt Disney Co., and Robert Iger, the man he replaced nearly three years ago, is back.

Capek, who oversaw home entertainment at Disney during the heyday of DVD and later became a vocal champion of Blu-ray Disc, was named CEO in February 2020, ahead of the COVID-19 pandemic, and has led the company through uncertain times. Disney+ was only three months old when Capek became CEO, and he directed the company’s resources toward success.

Chapek was given a three-year contract extension earlier this year, and board chairwoman Susan Arnold said in a press release: “The board is committed to continuing Disney on the successful path it has been on today, and Bob’s leadership is key to achieving that. purpose. Bob is the right leader at the right time for Walt Disney Co., and the board has the utmost confidence in him and his leadership team.”

But now, according to an announcement released Sunday night, “Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who has spent more than four decades at the company, including 15 years as CEO, has agreed to serve as Disney’s CEO for two years with a mandate from the board of directors to set strategic direction for renewed growth and work closely with the board directors in developing a successor to lead the company after his term ends.”

Čapek, according to the message of the board of directors, “resigned from his position.”

In a Nov. 20 statement, Arnold said, “We thank Bob Chapek for his service to Disney throughout his long career, including guiding the company through the unprecedented challenges of the pandemic.”