Bob Iger “Never Second-Guessed” Returning to Disney

Back in November 2022, Disney’s Board of Directors decided that they had had enough of CEO Bob Chapek and fired him. Chapek had become Chief Executive Officer in 2020, and had been struggling since the beginning. While he had to deal with something unprecedented — the COVID-19 pandemic — that was not the main problem he had. Chapek was constantly making gaffes and fans, as well as Disney cast members, turned against him.

Related: Bob Chapek Called Being Disney CEO “Three Years of Hell”

At the same time Chapek’s firing was announced, Susan Arnold — the chairwoman of the Board of Directors — shared that former CEO Bob Iger would be returning as CEO. Iger had stepped down in February 2020, but did not fully leave the company. Instead, he took on the position of Executive Chairman.

Unfortunately, Iger’s return has been anything but easy. Disney’s stock is still struggling to get back to where it was just a few years ago. Disney is also continuously releasing movies that are not successful at the box office. Then, you have Disney theme parks, which are more expensive than ever, and Disney vacations are becoming more and more complicated to plan. Add onto the pile, Disney+, which is still not profitable and has lost Disney more than $11 billion.

If all of that isn’t enough, Disney is currently locked in a heated battle with Florida Governor Ron DeSantis. DeSantis has been going after the Mouse House since Chapek spoke out against a bill that DeSantis championed. DeSantis has stripped Disney of its right to self-govern and has dismantled the board that ran Walt Disney World’s special district.

In spite of all that, Iger said that he has never doubted his return to the company that he previously ran for fifteen years.

On November 28, Iger hosted a Town Hall meeting for Disney employees on the studio lot in Burbank, CA. During the Town Hall, he admitted that he knew there would be a lot of problems that he needed to fix upon his return. But that doesn’t mean that he isn’t happy to be back in charge.

“I knew that there were myriad challenges that I would face coming back. I won’t say that it was easy, but I’ve never second-guessed the decision to come back, and being back still feels great.”

“We have real reason at Disney to be optimists, and it starts with the fact that we’re Disney. And Disney, as you know, is a brand unto itself, but it’s also an umbrella company that houses many assets and many great brands. So, reason to be optimistic number one is that.”

Related: Even Some Within Disney Have Lost Faith in Bob Iger

Iger also addressed the trouble that Disney is having with its linear programming — which is declining due to the rapid rise in the popularity of streaming services. Rumors have been swirling that Iger is looking to sell ABC, which Disney has owned since 1996. Disney is also reportedly looking for a company to come in and become a partner in the running of ESPN.

Iger has not confirmed who Disney has been speaking to about the potential sale of ABC. Media mogul Byron Allen said that he offered Iger $10 billion for ABC, but the offer was not accepted. Iger did not comment on Allen’s offer. While Iger may see the sale of ABC as a positive for Disney, ABC employees are reportedly “freaking out” about the possibility.

Are you glad to see Iger back as CEO? Do you think he is doing a good job? Let us know in the comments!