After only two and a half years letting of stepping down as CEO of Disney, Bob Iger returns to replace his successor Bob Chapek.
👉 Background: Bob Iger took the CEO reigns at Disney back in 2005. He’s kinda like the spiritual leader of Disney… he even wrote a best-selling book about his time there.
👉 What happened: During Iger's time as CEO, Disney made a series of big acquisitions. We’re talking the acquisition of the Marvel film franchise, the Pixar animation studio and the Star Wars film franchise.
👉 What else: When he stepped down in February 2020, the heir apparent had BIG shoes to fill. But after only two and a half years later, the replacement CEO Bob Chapek has been replaced by his predecessor. And bringing back an old favourite has proven to be very successful for a number of other companies.
💡There are a number examples of boomerang CEOs (ie those CEOs returning to their old jobs and delivering with great success).
💡Investors and board members love bringing back an old favourite because the former leader doesn’t need to spend their first 12 months learning the business from scratch.
💡They also don’t need to spend a long time understanding the culture and earning the respect of his peers, partners and the board. So it means Bob Iger can wipe the slate clean from the excessive spending of the past 2 years immediately and start afresh.
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