Is Bob Iger Back in Charge at Disney?
By Allyson Vannatta, Senior Writer
Former CEO of the Walt Disney Company Bob Iger is back at the helm after stepping down two months ago.
Iger explained the decision in an email to New York Times reporter Ben Smith.
“A crisis of this magnitude, and its impact on Disney, would necessarily result in my actively helping Bob (Chapek) and the company contend with it, particularly since I ran the company for 15 years!” said Iger.
Chapek earned his promotion to CEO on February 25 after Iger stepped down. However, in the following weeks, a global pandemic called COVID 19 hit the United States and wreaked havoc on Disney and the entertainment business as a whole.
Disney has closed theme parks and cruise lines along with halting production on television shows.
The entertainment giant has also pushed back its entire theatrical release schedule because of theater closures.
Disney’s new streaming service, Disney+, has helped keep the company afloat, garnering over 50 million subscribers, as recent titles like ONWARD hit the service early.
Movieguide® previously reported that Iger hinted at more titles, including ARTEMIS FOWL, going straight to Disney+ after being pulled from their release dates. This comment by Iger was the first hint that he was playing a bigger role after stepping down.
The Wrap also reports how the former CEO plans to end “expensive old-school television practices” like advertising upfronts and producing pilots that may not air.
Like others, the company continues to navigate the murky waters that lie ahead to make it through this crisis.Do you enjoy articles like this? Click here to become a monthly partner and receive 15 movies for free!