Iger, who has led Disney for 15 years and is considered the architect of today’s company, will take over for a further two years and is tasked with maneuvering Disney through difficult times of reduced willingness to spend and falling cable television revenues. In addition, the streaming business continues to write deep red numbers despite rapid growth. In the past quarter alone, the division posted an operating loss of $1.47 billion.
Iger’s appointment comes as a surprise. Disney only extended the contract with the previous managing director and Iger’s direct successor Bob Chapek in the summer. Iger has repeatedly stated that he is no longer interested in a job at Disney. According to media reports, talks about his return only began a few days ago.
Source: Nachrichten
