Disney It has replaced It CEO Bob Chapek with His predecessor was Bob IgerEffective immediately the company announced Sunday night

Iger Was CEO As part of a career at, I served for 15 years. Disney This span four decades. He served as the executive chairman from 11 months ago.

Chapek has resigned his position. Disney said. 

Disney Susan Arnold, chairman, said: “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.” Arnold will be the chairman Disney’s board.

“I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,” Iger said.

During Iger’s tenure as CEO, Disney Pixar, Marvel Lucasfilm, Lucasfilm, and 21st Century Fox were acquired and their market capitalization increased by fivefold. Disney’s stock is down more than 40% year to date and it slid to a multiyear low when it reported earnings weeks ago when it missed on Wall Street expectations for both revenue and earnings per share.

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