After a tumultuous two and a half years, Bob Chapek, the embattled CEO of the Walt Disney Co., has stepped down from the role, the company announced.
BURBANK, Calif. — After a tumultuous two and a half years, Bob Chapek, the embattled CEO of the Walt Disney Co., has stepped down from the role, the company announced late Sunday.Bob Iger, who had hand-picked Chapek to take over for him after serving 15 years as Disney's CEO, returns to Disney for the next two years
"We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic," said Susan Arnold, chairman of the board, in a statement.
But after becoming CEO, Chapek had to navigate the company through the pandemic, one of the most turbulent and unprecedented times in recent history. Chapek was often the target of ire among Disney fans who complained about soaring theme park prices and for not doing enough during Florida's "Don't Say Gay bill" and other studio andDespite the criticism, the Disney board extended his contract in June for an additional three years. Arnold, at that time, said Chapek was able to weather the pandemic's storm and "emerged in a position of strength.
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