(Reuters) - Bob Iger is returning as Walt Disney (NYSE:DIS) Co's chief executive officer in a bid to restore confidence in the entertainment giant and chart a faster path to profitability for its streaming business.
He replaces Bob Chapek, who took charge in February 2020 just before the COVID-19 crisis hit and under whose reign the company's stock has lost about a third of its value.
Chapek was this year embroiled in a dispute with staff over his silence on Florida legislation that would limit classroom discussion of sexual orientation and gender identity.
In 2021, he was involved in a tussle with Scarlett Johansson, star of Marvel's "Black Widow" film, over Disney's move to simultaneously release the movie in theaters and online.
Disney said on Monday that Iger is "uniquely situated to lead the company through this pivotal period." Here is a timeline on his career at the company:
Event
Year
1996 Iger joined the Disney senior management team
in 1996 as chairman of ABC Group.
1999 Iger took on additional role of president of
Walt Disney International.
2000 - 2005 Iger served as chief operating officer and
president of Disney.
2005 Iger becomes CEO of the company after the
"Save Disney" campaign, which intended to
oust Michael Eisner.
2006 Disney acquires animation studio Pixar,
making Apple Inc (NASDAQ:AAPL) founder Steve Jobs its
largest shareholder and a member of the
board.
2009 Company acquires Marvel Entertainment, best
known for superhero characters such as Iron
Man and Captain America, for about $4
billion.
2011 Apple names Iger as a member of the board of
directors.
2012 Disney acquired rights to the Star Wars
franchise and Indiana Jones through its $4.05
billion acquisition of Lucasfilm.
2012 Iger is elected chairman of the board.
2017 Disney's board extends Iger's contract by one
year.
2017 Disney's board extends Iger's contract
through December 2021.
2018 Disney launches ESPN+, its sports streaming
service.
2018 Disney buys Fox's film, television, and
international businesses for about $71
billion.
2019 Disney announces streaming service Disney+.
2019 Iger resigns from Apple's board.
2020 Iger steps down as CEO of Disney, continues
as chairman, as Bob Chapek takes over.
2021 Iger resigns as chairman, leaving Disney.
2022 Iger returns as CEO of the company, replacing
Chapek.