Robert Iger has replaced Bob Chabeck as Disney’s CEO

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Disney appointed Robert Iger as CEO for the next two years, ousting Bob Chabeck, who faced controversy following his two-year tenure. including feuding with Florida Gov. Ron DeSantis (R) over LGBTQ discussions in Florida’s schools.

Iger was the chief executive of the Walt Disney Company for 15 years. In 2020, he assumed the leadership of Sapek. He left the company last December after serving as executive chairman. Iger will work with the board to select a successor, the company said in a news release.

“We thank Bob Chabeck for his long service to Disney, including guiding the company through the unprecedented challenges of the pandemic,” said Susan Arnold, chairman of the Disney board. “As Disney embarks on an increasingly complex industry transformation, the Board has decided that Bob Iger is uniquely positioned to lead the company during this important period.”

The decision to reinstate Iger comes days after Chapek outlined the plans In internal reference Disappointing quarterly results followed a hiring freeze, layoffs and cost cuts, according to Reuters.

Disney missed Wall Street expectations as its push in streaming video posted losses. It also produces series such as Star Wars spinoffs “The Mandalorian,” “Andor” and “Obi-Wan Kenobi.”

Still, Sunday night’s announcement came as a surprise: Disney’s board voted in June to extend his contract by three years.

During Chapek’s short tenure, Disney was embroiled in an internal culture war after mishandling of LGBTQ discussions in Florida’s schools sparked anger from Disney’s LGBTQ employees.

DeSantis, meanwhile, used the turmoil as a springboard for his bold confrontation with corporate America, leading a successful push to remove Disney from the decades-old tax district and criticizing the company on Fox. Conflict reporting and fundraising, The Washington Post previously reported.

Disney said on Sunday that during his previous tenure, he oversaw the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox, increasing the company’s market capitalization fivefold.

He left Disney at a high point in the streaming wars against Disney’s leading rivals Netflix and Warner Bros. Previous subscriber growth Amid economic recession.

Iger said in the news release that he is “extremely optimistic for the future of this great company and is delighted to have been asked by the board to return as its CEO.”

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