The Walt Disney Company (NYSE: DIS) announced today that Robert
A. Iger is returning to lead Disney as Chief Executive Officer,
effective immediately. Mr. Iger, who spent more than four decades
at the Company, including 15 years as its CEO, has agreed to serve
as Disney’s CEO for two years, with a mandate from the Board to set
the strategic direction for renewed growth and to work closely with
the Board in developing a successor to lead the Company at the
completion of his term. Mr. Iger succeeds Bob Chapek, who has
stepped down from his position.
“We thank Bob Chapek for his service to Disney over his long
career, including navigating the company through the unprecedented
challenges of the pandemic,” said Susan Arnold, Chairman of the
Board. “The Board has concluded that as Disney embarks on an
increasingly complex period of industry transformation, Bob Iger is
uniquely situated to lead the Company through this pivotal
period.”
“Mr. Iger has the deep respect of Disney’s senior leadership
team, most of whom he worked closely with until his departure as
executive chairman 11 months ago, and he is greatly admired by
Disney employees worldwide—all of which will allow for a seamless
transition of leadership,” she said.
The position of Chairman of the Board remains unchanged, with
Ms. Arnold serving in that capacity.
“I am extremely optimistic for the future of this great company
and thrilled to be asked by the Board to return as its CEO,” Mr.
Iger said. “Disney and its incomparable brands and franchises hold
a special place in the hearts of so many people around the
globe—most especially in the hearts of our employees, whose
dedication to this company and its mission is an inspiration. I am
deeply honored to be asked to again lead this remarkable team, with
a clear mission focused on creative excellence to inspire
generations through unrivaled, bold storytelling.”
During his 15 years as CEO, from 2005 to 2020, Mr. Iger helped
build Disney into one of the world’s most successful and admired
media and entertainment companies with a strategic vision focused
on creative excellence, technological innovation and international
growth. He expanded on Disney’s legacy of unparalleled storytelling
with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century
Fox and increased the Company’s market capitalization fivefold
during his time as CEO. Mr. Iger continued to direct Disney’s
creative endeavors until his departure as Executive Chairman last
December, and the Company’s robust pipeline of content is a
testament to his leadership and vision.
Robert A. Iger Biography
Robert A. Iger was Chief Executive Officer and Chairman of The
Walt Disney Company from 2005 to 2020, then Executive Chairman and
Chairman of the Board through 2021.
Over his 15 years leading Disney, Mr. Iger was the steward of
one of the world’s largest media companies and some of the most
respected and beloved brands around the globe. His strategic vision
focused on three fundamental pillars: generating the best creative
content possible; fostering innovation and utilizing the latest
technology; and expanding into new markets around the world.
Mr. Iger built on Disney’s rich history of unforgettable
storytelling with the acquisitions of Pixar (2006), Marvel (2009),
Lucasfilm (2012), and 21st Century Fox (2019), and the landmark
opening of Disney’s first theme park and resort in mainland China,
Shanghai Disney Resort; and the release of a number of
record-setting films including Marvel’s Avengers: Endgame, Disney’s
Frozen and Frozen 2, and the groundbreaking movie Marvel’s Black
Panther. Always one to embrace new technology, Mr. Iger made Disney
an industry leader through its creative content offerings across
new and multiple platforms, including the highly successful launch
of the Disney+ streaming service in November 2019 and ESPN+ in
2018.
Disney’s exceptional entertainment experiences, widely diverse
content, and unique skill in managing businesses in an integrated
manner led to strong results. During Mr. Iger’s tenure, The Walt
Disney Company was recognized as one of the “Most Reputable
Companies” in both America and the world by Forbes magazine
(2006–2019); one of the “Best Employers” in both America and the
world by Forbes magazine (2019 and 2018, respectively); one of the
“World's Most Admired Companies” by Fortune magazine (2009–2021);
and one of the “World's Most Respected Companies” by Barron’s
(2009–2017).
Mr. Iger was appointed Chief Executive Officer of Disney in
October 2005 and was elected Chairman in 2012. In February 2020, he
assumed the role of Executive Chairman and directed the company’s
creative endeavors until his retirement in December 2021. From
2000-2005, Mr. Iger served as President and Chief Operating
Officer. He officially joined the Disney senior management team in
1996 as Chairman of the Disney-owned ABC Group, and in 1999, was
given the additional responsibility of President, Walt Disney
International. In that role, Mr. Iger expanded and coordinated
Disney’s presence outside of the United States, establishing the
blueprint for the company’s international growth today. As Chairman
of the ABC Group, Mr. Iger oversaw the broadcast television network
and station group, cable television properties, and radio and
publishing businesses, and also guided the complex merger between
Capital Cities/ABC, Inc. and the Walt Disney Company. During Mr.
Iger’s years with ABC, he obtained hands-on experience in every
aspect of the television business—including news, sports, and
entertainment—as well as in program acquisition, rights
negotiations, and business affairs. He began his career at ABC in
1974.
Mr. Iger has been named TIME’s Businessperson of the Year
(2019); one of Forbes magazine's “World’s Most Powerful People”
(2018); one of the “Top Gun CEOs” by Forbes magazine (2009); one of
Fortune magazine’s “25 Most Powerful People in Business” (2006,
2007); one of the “Best CEOs” by Institutional Investor magazine
(2008, 2009, 2010, 2011); MarketWatch's “CEO of the Year” (2006);
and “CEO of the Year” by Chief Executive magazine (2014).
Mr. Iger was inducted into the Television Academy Hall of Fame
in January 2020, and the Broadcasting and Cable Hall of Fame in
2015. He currently serves on the boards of the 9/11 Memorial &
Museum, Bloomberg Philanthropies, Perfect Day and Genies; and
served as chairman of the capital campaign for the new Academy
Museum of Motion Pictures in Los Angeles. In 2012, Mr. Iger became
a member of the Academy of Motion Picture Arts and Sciences, one of
the nation’s most prestigious honorary societies, which recognizes
some of the world’s most accomplished scholars, scientists,
writers, artists and civic, corporate, and philanthropic leaders.
He was previously a member of the Apple board of directors
(2011-2019).
In September 2022, Mr. Iger was recognized as an Honorary Knight
Commander of the Most Excellent Order of the British Empire by Her
Late Majesty Queen Elizabeth II for his services to the UK / US
relations.
Mr. Iger is the author of the New York Times best-selling book
“The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of
The Walt Disney Company,” published in 2019. He is a graduate of
Ithaca College.
Forward-Looking
Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding mandates, the future, business plans and other statements
that are not historical in nature. These statements are made on the
basis of management’s views and assumptions regarding future events
and business performance as of the time the statements are made.
Management does not undertake any obligation to update these
statements.
Actual results may differ materially from those expressed or
implied. Such differences may result from actions taken by the
Company, including restructuring or strategic initiatives or other
business decisions, as well as from developments beyond the
Company’s control, including: further deterioration in domestic and
global economic conditions; deterioration in or pressures from
competitive conditions; consumer preferences and acceptance of our
content, offerings, pricing model and price increases and the
market for advertising sales on our DTC services and linear
networks; health concerns and their impact on our businesses;
international, regulatory, political or military developments;
technological developments; labor markets and activities; adverse
weather conditions or natural disasters; legal or regulatory
changes; each such risk includes the current and future impacts of,
and is amplified by, COVID-19 and related mitigation efforts. Such
developments may further affect entertainment, travel and leisure
businesses generally and may, among other things, affect (or
further affect, as applicable): our operations, business plans or
profitability; and demand for our products and services.
Additional factors are set forth in the Company’s Annual Report
on Form 10-K for the year ended October 2, 2021 under the captions
“Risk Factors,” “Management’s Discussion and Analysis,” and
“Business,” and subsequent filings with the Securities and Exchange
Commission, including, among others, quarterly reports on Form
10-Q.
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Media Contacts: Kristina Schake
Kristina.Schake@disney.com
David Jefferson David.J.Jefferson@disney.com
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