Iger, 72, will remain chief executive for two years beyond his previously announced re-retirement date. Mr. Iger reluctantly ended his first run at Disney in 2021, handing the company's top job to Bob Chapek, a former theme park executive. Mr.
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The board had fired Chapek. Within days, Iger fired Chapek's closest advisors, including his former chief of staff, Arthur Bochner; his assistant, Jackie Hart; and his de facto second-in-command, Kareem Daniel. In July, Iger extended his contract through 2026, the fifth time he has pushed back his departure as CEO.
Disney Completes 7,000 Job CutsDisney reached its 7,000 layoffs goal, handing out notices to the remaining employees impacted in its third round of job cuts last Friday ahead of the Memorial Day holiday weekend, Variety has confirmed.
Disney reappoints former CEO Bob Iger in major leadership shakeup. In a twist worthy of a Hollywood screenplay, the board of the Walt Disney Company ousted CEO Bob Chapek on Sunday and replaced him with a familiar face: Bob Iger, who ran the entertainment giant for 15 years and stepped aside two years ago.
Disney+ lost roughly 11.7 million subscribers worldwide in the three months that ended July 1, for a new total of 146.1 million. All the decline came from a low-priced version of Disney+ in India. Last year, Disney lost a bid to renew the expensive rights to Indian Premier League cricket matches.
These include a declining linear-TV business, a complicated shift toward streaming, an underperforming studios unit and a comedown for the parks business as the initial period of postpandemic exuberance wanes. Disney's troubles in linear television and streaming go hand in hand.