\nThe Walt Disney Company (NYSE: DIS) announced today that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney\u2019s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position.\n<\/p>\n
\n\u201cWe thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,\u201d said Susan Arnold, Chairman of the Board. \u201cThe 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.\u201d\n<\/p>\n
\n\u201cMr. Iger has the deep respect of Disney\u2019s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide\u2014all of which will allow for a seamless transition of leadership,\u201d she said.\n<\/p>\n
\nThe position of Chairman of the Board remains unchanged, with Ms. Arnold serving in that capacity.\n<\/p>\n
\n\u201cI am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO,\u201d Mr. Iger said. \u201cDisney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe\u2014most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling.\u201d\n<\/p>\n
\nDuring his 15 years as CEO, from 2005 to 2020, Mr. Iger helped build Disney into one of the world\u2019s most successful and admired media and entertainment companies with a strategic vision focused on creative excellence, technological innovation and international growth. He expanded on Disney\u2019s legacy of unparalleled storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and increased the Company\u2019s market capitalization fivefold during his time as CEO. Mr. Iger continued to direct Disney\u2019s creative endeavors until his departure as Executive Chairman last December, and the Company\u2019s robust pipeline of content is a testament to his leadership and vision.\n<\/p>\n
Robert A. Iger Biography<\/span><\/b><\/p>\n \nRobert A. Iger was Chief Executive Officer and Chairman of The Walt Disney Company from 2005 to 2020, then Executive Chairman and Chairman of the Board through 2021.\n<\/p>\n \nOver his 15 years leading Disney, Mr. Iger was the steward of one of the world\u2019s 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.\n<\/p>\n \nMr. Iger built on Disney\u2019s 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\u2019s first theme park and resort in mainland China, Shanghai Disney Resort; and the release of a number of record-setting films including Marvel\u2019s Avengers: Endgame<\/i>, Disney\u2019s Frozen<\/i> and Frozen 2<\/i>, and the groundbreaking movie Marvel\u2019s Black Panther<\/i>. 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.\n<\/p>\n \nDisney\u2019s exceptional entertainment experiences, widely diverse content, and unique skill in managing businesses in an integrated manner led to strong results. During Mr. Iger\u2019s tenure, The Walt Disney Company was recognized as one of the \u201cMost Reputable Companies\u201d in both America and the world by Forbes<\/i> magazine (2006\u20132019); one of the \u201cBest Employers\u201d in both America and the world by Forbes magazine (2019 and 2018, respectively); one of the \u201cWorld’s Most Admired Companies\u201d by Fortune<\/i> magazine (2009\u20132021); and one of the \u201cWorld’s Most Respected Companies\u201d by Barron\u2019s <\/i>(2009\u20132017).\n<\/p>\n \nMr. 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\u2019s 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\u2019s presence outside of the United States, establishing the blueprint for the company\u2019s 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\u2019s years with ABC, he obtained hands-on experience in every aspect of the television business\u2014including news, sports, and entertainment\u2014as well as in program acquisition, rights negotiations, and business affairs. He began his career at ABC in 1974.\n<\/p>\n \nMr. Iger has been named TIME<\/i>\u2019s Businessperson of the Year (2019); one of Forbes<\/i> magazine’s \u201cWorld\u2019s Most Powerful People\u201d (2018); one of the \u201cTop Gun CEOs\u201d by Forbes<\/i> magazine (2009); one of Fortune<\/i> magazine\u2019s \u201c25 Most Powerful People in Business\u201d (2006, 2007); one of the \u201cBest CEOs\u201d by Institutional Investor<\/i> magazine (2008, 2009, 2010, 2011); MarketWatch’s \u201cCEO of the Year\u201d (2006); and \u201cCEO of the Year\u201d by Chief Executive<\/i> magazine (2014).\n<\/p>\n \nMr. 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\u2019s most prestigious honorary societies, which recognizes some of the world\u2019s 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).\n<\/p>\n \nIn 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.\n<\/p>\n \nMr. Iger is the author of the New York Times<\/i> best-selling book \u201cThe Ride of a Lifetime: Lessons Learned from 15 Years as CEO of The Walt Disney Company,\u201d published in 2019. He is a graduate of Ithaca College.\n<\/p>\n Forward-Looking Statements<\/span><\/b><\/p>\n \nCertain statements in this press release may constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding mandates, the future, business plans and other statements that are not historical in nature. These statements are made on the basis of management\u2019s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements.\n<\/p>\n \nActual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives or other business decisions, as well as from developments beyond the Company\u2019s control, including: further deterioration in domestic and global economic conditions; deterioration in or pressures from competitive conditions; consumer preferences and acceptance of our content, offerings, pricing model and price increases and the market for advertising sales on our DTC services and linear networks; health concerns and their impact on our businesses; international, regulatory, political or military developments; technological developments; labor markets and activities; adverse weather conditions or natural disasters; legal or regulatory changes; each such risk includes the current and future impacts of, and is amplified by, COVID-19 and related mitigation efforts. Such developments may further affect entertainment, travel and leisure businesses generally and may, among other things, affect (or further affect, as applicable): our operations, business plans or profitability; and demand for our products and services.\n<\/p>\n \nAdditional factors are set forth in the Company\u2019s Annual Report on Form 10-K for the year ended October 2, 2021 under the captions \u201cRisk Factors,\u201d \u201cManagement\u2019s Discussion and Analysis,\u201d and \u201cBusiness,\u201d and subsequent filings with the Securities and Exchange Commission, including, among others, quarterly reports on Form 10-Q.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20221120005104\/en\/<\/a><\/span><\/p>\n Media Contacts:<\/p>\n
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Kristina Schake
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Kristina.Schake@disney.com<\/a><\/p>\n