Robert Iger returns to Disney's CEO position

CTOnews.com, Nov. 21 (Reuters)-the Walt Disney Company's board of directors issued a statement on Sunday local time, saying that former CEO Robert Iger will return to the company as CEO.

Iger, who retired from Disney at the end of last year, agreed to serve as chief executive for another two years after serving as chief executive for 15 years (2005-2020), the statement said. He will succeed Bob Bob Chapek, who took over as Disney's chief executive in February 2020.

Although Chapek led Disney through the impact of COVID-19 's epidemic, Disney's results this month showed continued losses in its streaming division, disappointing investors, Reuters said.

CTOnews.com learned that Susan Arnold, Disney's chairman, said in a statement that the board had concluded that Robert Iger was in a unique position to lead the company through a critical period as Disney entered an increasingly complex industry transition.