Disney recovers its historic director Bob Iger to take the reins of the company. CEO for fifteen years, he will replace Bob Chapek, who has resigned as reported by the company. Eleven months after leaving, Iger will return to the role for two years to redirect the company and search for a successor.
Chapek was at the head of the group during the pandemic, when the parks that it has spread across the planet lowered the blind and made the model tremble. A stage of "unprecedented challenges", according to the company. "I am very optimistic about the future of this great company," Iger said in a press release.
As Disney embarks on an increasingly complex period of industry transformation, Iger is uniquely positioned to lead the company through this crucial period," said Susan Arnold, Chairman of the Board. The challenges have not disappeared, in the midst of growing competition in the digital entertainment market, where today a large part of its efforts is devoted.
The latest results, which include fiscal year 2022, showed a net profit of 3,145 million dollars -3,033 million euros-, 58% more than the previous year, but showing a slowdown in the business in the last quarter, when it only earned 2% more, 162 million. The latter was a worse figure than expected by the markets.
During his 15 years as CEO, from 2005 to 2020, Bob Iger helped build Disney into one of the world's leading media and entertainment companies, with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox, which allowed for a quintupling of the market capitalization during his tenure.
Last June, the board had decided to extend the mandate as CEO of Chapek for three years, who assumed the reins of the company in February 2020.
Chapek leaves the company with a total compensation of $22.2 million between the exit and accrued benefits, including pension funds, according to Bloomberg calculations. Under his contract, he will collect his salary until the end of the agreement even though he leaves the company early. Currently his contract extended until mid-2025.
The sum would rise even more if the company improves its listing, since it has stock options today valued at 3.5 million.
