The Walt Disney Company just announced that Bob Iger would return as CEO, succeeding Bob Chapek. Disney’s board of directors revealed the announcement on November 20, 2022, with the chairperson of the board, Susan Arnold, stating:
“We appreciate Bob Chapek for his many years of service to Disney, including guiding the business through the extraordinary difficulties of the epidemic.” The Board of Directors has determined that, as Disney embarks on an increasingly challenging phase of industry upheaval, Bob Iger is best positioned to lead the Company through this critical moment.”
Chapek had signed a new contract in June 2022 before leaving. Iger said in an email to staff that he would return with thanks and humility. The Board also announced that Iger’s new tenure would be temporary and that he has agreed to serve as CEO for two years with a mandate from the Board to define the strategic direction for renewed development and work with them to create a successor to lead the firm once he completes his term. In a statement, Iger also addressed his comeback, saying:
“I am highly excited about the future of this outstanding firm and delighted to have been invited to return as CEO by the Board.” Disney and its outstanding brands and franchises occupy a special place in the hearts of so many people all around the world, particularly in the hearts of our workers, whose devotion to this organization and its goal is an inspiration.”
The statement went on:
“I am incredibly delighted to be invited to head this extraordinary team once again, with a clear objective centered on creative brilliance to inspire generations via unparalleled, daring storytelling.”
In a message, Bob Iger said that he would address the business on Monday, November 21, 2022, and noted that, although the firm faced many issues, he learned while working at Disney that its workers and cast members accomplish the impossible even in the face of uncertainty.
Bob Iger’s Net Worth
Bob Iger rose to prominence as the CEO of The Walt Disney Company, but he was also the president of ABC Television from 1994 to 1995. In 2000, he was appointed President of Disney, and in 2005, he replaced Michael Eisner as CEO. In 1989, Iger was named President of ABC Entertainment, and in 1993, he was named President of ABC Network Television Group and Vice President of Capital Cities/ABC. In 1994, he was named COO of Capital Cities/ABC. Despite the fact that The Walt Disney Company purchased Capital Cities/ABC in 1996, Iger remained its COO and ultimately became president.
CelebrityNetWorth estimates the 71-year-net old’s worth to be about $350 million. While his tenure as CEO of The Walt Disney Firm resulted in significant revenues for the company, it also added to his total earnings. Bob Iger announced the purchase of Pixar in 2006, with the deal valued at around $7.4 billion. Bob then purchased Marvel Entertainment for $4 billion in 2009 and was appointed chairman of the board of directors of Apple, Inc. in 2011.
In 2012, Iger acquired LucasFilm for $4 billion, allowing The Walt Disney Company to acquire the rights to the Indiana Jones and Star Wars properties. The purchases were expensive, but the corporation saw a return on investment within a few years. Disney recouped $4 billion from Marvel’s purchase in 2014, and The Force Awakens grossed $2 billion in 2015.
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. Bob Iger’s $1.8 million in Disney shares had a market worth of $130 million, and his total remuneration ranged between $40 and $50 million until his departure.
Bob Iger’s yearly compensation was $44.9 million in 2015, and according to Forbes, he made $3 million in 2019 combined with a bonus of $21.8 million. He received $19.6 million in stock awards and options, bringing his total earnings to $47.5 million. In January 2021, Iger contributed $5 million to assist small companies struggling to survive in the aftermath of the Covid-19 outbreak.
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Source: HIS Education