Bob Iger will return as Disney CEO, Bob Chapek is leaving

In the company Walt Disney Co. again personnel changes - Bob Chapek leaves the post of CEO, and his predecessor Bob Iger comes to replace him.

This was announced by the company's board of directors on Sunday. The change is effective immediately, as Iger returns to the position he vacated only in 2020. Under the new contract, Iger will serve as CEO for the next two years.

"We thank Bob Chapek for his contributions to Disney over his long career, including leading the company through the unprecedented challenges of the pandemic," said Chairman Susan Arnold. "The Board concluded that as Disney embarks on an increasingly challenging period of industry transformation, Bob Iger is the right person to lead the company through this pivotal period."

Interestingly, this comes just days after Chapek informed the company's management of a new series of cost-cutting measures, where he specifically proposed a targeted hiring freeze and travel restrictions.

Source: IGN