Economy

Bob Iger to return to position as Disney’s CEO on Monday

Pinterest LinkedIn Tumblr

(NewsNation) — Bog Iger’s return as the CEO of Disney will officially resume on Monday, Nov. 26, when he will address staff at a town hall meeting, a memo acquired by CNBC states.

Iger will reportedly be speaking from the Walt Disney Studios lot in Burbank, California, at 9 a.m. PT, when he will debrief employees on the future of the company as well as field questions on what to expect going forward.

While Iger’s reinstatement comes only a week after it was announced he was replacing his successor, Bob Chapek, he’s already making moves. According to CNBC, Iger reorganized the company’s media unit and fired the department’s head only a day after his announcement.

“On Monday, I will be returning to the Walt Disney Studios lot, a place I have always loved. I’m eager to be rejoining dear colleagues and meeting new team members who’ve become part of our company this past year,” Iger wrote in the message.

Iger’s return comes amid turbulent times in the company. According to The Wall Street Journal, tickets to Magic Kingdom have risen to $189 — a 12% hike. Ride stoppages rose 58% at Disneyland in California from 2018 to 2022 and were up 42% at Walt Disney World in Florida.

Chapek also posted lower-than-expected earnings in the last quarter and received pushback on his cost-cutting measures and sometimes blunt approach to actors, such as Scarlett Johansson.


Sheriff: Woman burned down boyfriend’s home after other woman answered phone

While Chapek was thanked by Disney’s board and was ensured the “deep respect of Disney’s senior leadership team,” new reports have surfaced. Those reports claim Iger never really left and that as soon as Chapek took the job in 2020, he was at odds with Iger, even “complaining to deputies he had been undermined from the start,” the WSJ reported.

Iger’s tasks ahead will include getting a handle on their streaming model. While Disney went all in on streaming in 2020, the market has since changed.

With more than $2.5 billion lost in streaming — including another $1 billion a year earlier — the model is clearly no longer one that is a surefire all-in on spending, as Netflix has shown. The price of Disney’s stock has since been cut in half.

“It’s a very different landscape than even 18 months ago,” an executive at one of Disney’s competitors told Vox. “Hopefully he can figure out the model. No one has yet.”

Monday Disney will see what solutions Iger may have up his sleeve.

© 1998 – 2022 Nexstar Media Inc. | All Rights Reserved.

Trending on NewsNation


Cybersleuths look for clues in Idaho victims’ Venmo accounts

Banfield Video Icon

Video


These restaurants are open on Thanksgiving

Holidays


Video evidence raises questions on Robinson’s death

Crime Video Icon

Video


Witness: Walmart shooter seemed to target certain people

Crime 58 mins ago


Idaho police: Surviving roommates called friends to residence before 911

Crime Video Icon

Video


Criminologist: Idaho killings ‘purposeful’

Rush Hour Video Icon

Video

Elections 2022


Murkowski, Peltola reelected to Congress from Alaska

Elections 2022


What are Republicans planning with their newly won control of the House?

Politics


Georgia runoff heats up ahead of early voting

Georgia 2022 midterm election

Video Icon

Video


Trump’s record in governor races: A near-even split

Elections 2022


GOP saw mixed results in attempts to attract Latino voters

Elections 2022

Gallery Icon

Gallery


Sununu: GOP must stop supporting ‘unelectable’ candidates’

Politics

Video Icon

Video


More Elections 2022

More Stories


Witness: Walmart shooter seemed to target certain people

The Walmart supervisor who shot and killed six co-workers in Virginia seemed to target people and fired at some victims after they were already hit and appeared to be dead, said a witness who was present when the shooting started.

Crime 58 mins ago


Long-lost sisters to spend Thanksgiving together after 45 years

A 45-year search for a long-lost sister has ended, and now, they are spending Thanksgiving together for the first time.

Holidays

Video Icon

Video


Colorado grand jury indicts deputies in shooting death of man, 22

A grand jury has indicted two Colorado sheriff’s deputies in the death of a 22-year-old man who was shot after calling 911 for roadside assistance while experiencing what his mother described as a mental health crisis, according to online court records.

Crime


Officials: Woman burns down BF’s house after phone call

She was allegedly angry because she had earlier FaceTimed her boyfriend and a woman answered the call — but the woman was said to be a relative of the boyfriend, according to the sheriff’s office.

Crime


Butterball hotline expert remembers caller’s silly question

Since 1981, countless confused cooks have called up the Butterball Turkey Talk-Line with concerns about thawing, basting or cooking their turkeys. So naturally, the experts at the hotline have fielded just about every question you could think of.

Holidays

Video Icon

Video


How many calories do you consume on Thanksgiving?

How many calories are you consuming on Thanksgiving?

Morning In America

Video Icon

Video


The Memo: Can any Republican defeat Trump and DeSantis?

Trump and DeSantis have raced out to an early lead over all other possible contenders. What will this mean in the 2024 races?

Politics


What makes a Black Friday deal worth it?

Here’s what to consider before you buy.

Your Money


Expert gives sports betting tips for Thanksgiving game day

Allan Bell stopped by “Morning In America” to give some responsible gambling tips and predictions.

Sports

Video Icon

Video

More Stories


Thanksgiving day travel off to a smooth start

Holidays

Video Icon

Video


Writer who accused Trump of 1990s rape files new lawsuit

U.S.


Biden considering presidential run over holidays

Politics

Video Icon

Video


Vigil held for Virginia Walmart shooting victims

Crime 17 mins ago

Video Icon

Video


These restaurants are open on Thanksgiving

Holidays


Tips for navigating 2022’s biggest shopping weekend

Your Money


Holiday shopping deals are here with these Thanksgiving 2022 bargains

Your Money


Holiday basics: How to have safe, sane Thanksgiving

Holidays


Vittert: Left jumps to conclusions on Colorado shooting

On Balance with Leland Vittert

Video Icon

Video


Video evidence raises questions on Robinson’s death

Crime

Video Icon

Video


Biden administration will pause student loan payments again

Politics

Video Icon

Video


Children’s bottles and cups recalled over lead hazard

Recalls and Consumer Alerts

Gallery Icon

Gallery