Bob Iger is returning to Disney (NYSE:DIS) once more to take the reigns of the media company as its next CEO.
Iger is coming back to Disney after setting up Bob Chapek as his replacement in 2020. This eventually saw him leave Disney altogether at the end of 2021 when he gave up the executive chairman position.
Let’s go over why Bob Iger is returning to Disney, and what else investors need to know about him.
- First up, Iger is coming back to Disney as it comes off of a poor earnings report and ongoing pressure from the pandemic and inflation.
- Disney expects Iger to turn the company’s business around and prepare it for the future.
- That includes a two-year term as CEO with the goal of identifying and training the next CEO of Disney.
- He’ll also work to set the company’s strategic goals to set his successor on the right path.
- Investors in DIS stock are no strangers to Iger, as he served as the CEO of the company for 15 years.
- During his tenure, Iger handled the acquisitions of Pixar, Marvel, Lucasfilm and 20th Century Fox.
- He was also behind the launch of Disney Plus, which brought the brand into the streaming market.
- He’s also part of the Board of Directors at digital avatar platform Genies.
- During his time away from Disney, Bob Iger focused on crypto endeavors.
- That includes the development of metaverse, non-fungible token (NFT), and blockchain projects.
DIS stock is up 6.7% Monday morning on news of Iger’s return.
Investors looking for more recent stock market news will want to keep reading!
We’ve got all of that news ready to go in one place on Monday! That includes what’s happening with shares of General Motors (NYSE:GM), Mobileye Global (NASDAQ:MBLY) and Meta Materials (NASDAQ:MMAT) stock. You can catch up on all of that news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
