World Is SHOCKED As Bob Iger Announces His Return As Disney CEO

Last night, The Walt Disney Company announced that current Chief Executive Officer of Disney, Bob Chapek, 62, would be stepping down from his position, and Robert A. Iger, 71, would return to run the company. The move would be effective immediately.

The news broke shortly after Bob Iger sent out an email to Disney employees, saying “It is with an incredible sense of gratitude and humility -and, I must admit, a bit of amazement -that I write to you this evening with the news that I am returning to The Walt Disney Company as Chief Executive Officer.”

Iger continued to explain that more details will be released in the day to come but, in the meantime, expressed his "deep gratitude for all that [Disney Cast Members] do."

He wrote, "Disney holds a special place in the hearts of people around the globe thanks to you, and your dedication to this company and its mission to bring joy to people through great storytelling is an inspiration to me every single day."

According to reports, Bob Iger has signed a two-year contract “with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term.”

The news of Bob Iger returning and Bob Chapek stepping down comes just days after Chapek said he planned to cut costs at the company and after the company’s earnings underperformed Wall Street’s expectations.

Bob Chapek took over the role of CEO in 2020 after Bob Iger stepped down from the position. He has run the company during the COVID-19 pandemic as well as had to make some difficult decisions throughout these last two years.

However, the Disney community has not been silent regarding their feelings of Chapek, saying he is not taking the company in the appropriate direction and they want Iger back a CEO.

Fans got their wish and have taken to social media to express their emotions.

Former Disney Imagineer, Jim Shull, Tweeted "Congratulations to Bob Iger as he assumes his role as CEO of The Walt Disney Company. And congratulations to Susan Arnold and TWDC board for their courageous decision. #Disney #TWDC."

While a Disney fan expressed, "ⓘ This user is excited about Bob Iger coming back as CEO of Disney."

One Disney employee wrote "There’s something oddly comforting about seeing “A Message from Bob Iger” in my inbox again."

"This Thanksgiving I am thankful for the return of Bob Iger as CEO," another Disney fan Tweeted.

While another hilariously wrote, "HELLO?! Bob Iger resuming as the CEO at Disney the Sunday night before thanksgiving at 9:45pm was not on my BINGO card for 2022."

It is clear that the Disney community is welcoming Bob Iger back with open arms.

Bob Chapek has received backlash from the Disney community regarding some of his decisions, which included budget cuts and layoffs of thousands of Cast Members after the Parks shut down due to the ongoing pandemic as well as price increases in the theme parks. He also was part of the launch of Disney Genie, including the new paid FastPass system, Lightning Lane, which had fans up in arms.

The news of Bob Iger returning to the company comes as a shock to many as Bob Chapek's contract as CEO was extended earlier this year. The 62-year-old planned a hiring freeze, to cut costs, and layoffs across the Walt Disney Company, according to a memo CNBC obtained.

The memo came just three days after the company’s earnings underperformed Wall Street’s expectations.