Bob Iger returns as Disney CEO as Bob Chapek is unceremoniously ousted

In a move that shocked Hollywood, Bob Iger, friend of Steve Job, former Apple Board of Directors member, and one of the most notable CEOs in the history of The Walt Disney Company, is returning to once again run the media empire. Bob Chapek, who replaced Iger in 2020 as CEO, has been dispatched immediately.
Bob Iger (left) and Steve Jobs
Chris Bryant for Bloomberg:

Bob Chapek was ousted on Sunday as chief executive officer after barely two years. The storied media and entertainment giant has bounced back from the pandemic but “Bob C” failed to soothe the concerns of investors, restless studio bosses, and politicians who accused the company of becoming “too woke.”
Chapek had the misfortune to take charge of Disney in February 2020, just as the pandemic forced the closure of its parks and cinemas shut down… Management infighting and series of political gaffes spanning the “Don’t Say Gay” row and Scarlett Johansson’s pay have added to the sense of drift.
But Iger can’t wave a magic wand. Facing a cost of living crisis, customers may eventually recoil at the price hikes Disney is implementing at Disney+ and its theme parks. Movie theatre audiences are also unlikely to rebound to pre-pandemic levels. Metrics such as box office receipts no longer matter as much, upending how “talent” is compensated. Though Disney has an excellent stable of stories and characters, it spent about $30 billion on content last year to feed the streaming beast, amid competition from deep-pocketed rivals such as Apple Inc., Netflix Inc. and Amazon.com Inc. Not everybody has warmed to its experiments with the Star Wars and Marvel franchises… I’d add to his list the difficulty of satisfying diverse international audiences in an era of political polarization and culture wars.

MacDailyNews Take: Shades of Steve returning to fix the absolute messes made by predecessors.
This development isn’t shocking; it had to happen. The sooner, the better in order to mitigate the damage being done to the brand.
As always: The wrong guy for the job is the wrong guy for the job.
See also:
• Bob Iger: Apple and Disney would have merged if Steve Jobs lived longer – December 21, 2021
• Disney CEO Bob Iger remembers Steve Jobs: ‘We felt we could say anything to each other’ – September 18, 2019
• Disney CEO Bob Iger kept Steve Jobs’s cancer a secret for three years – March 20, 2015
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