After leaving the company in 2020, Bob is taking over for Bob Chapek for the next few years.
Disney sure does love its Bobs. The massive entertainment company was run by Bob Iger for 15 years, between 2005 and 2020, but Iger stepped away from the role, and soon after Disney decided that similarly to the Flying Dutchman always needing a captain, there must always be a Bob heading up the company, and soon after Bob Chapek was hired as chief executive.
Well, it's been two years with Chapek at the helm and Disney has decided that he hasn't been performing as expected, meaning Chapek is out, and in a rather surprising development, Disney has decided to continue on the trend of the eternal Bobs, by bringing back Iger as chief executive for the next two years.
This has caused Disney stock to make a surprising jump, with share prices rising by 8% as of Monday morning.