Walt Disney Stock Jumps 7% so far this morning as Bob Iger resumes Control as Walt Disney CEO. Last night news broke when The Walt Disney Company announced that Bob Iger would assume immediate control as CEO. Ending the tenure of Bob Chapek.
When the Dow Jones opened this morning Disney Stock jumped back up by 7%, staying over $100 per share as of this writing. The news of Bob Iger coming back as CEO apparently buoyed the falling Disney stock that closed last Friday under $100, coming off the highs of over $200 per share at the stock’s highest.
Walt Disney Stock had fallen over 40% and the fourth quarter report put light on some of Disney’s failings. Bob Chapek took the fall and last night he was replaced by Bob Iger who was previously the Walt Disney Company CEO for 15 years.
Walt Disney Stock Jumps
Robert A. Iger returned to The Walt Disney Company as Chief Executive Officer on November 20, 2022. Mr. Iger previously served as CEO 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.
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