Disney: Bob Iger returns to Disney and begins restructuring

Disney: Bob Iger returns to Disney and begins restructuring
Disney: Bob Iger returns to Disney and begins restructuring

Disney: Bob Iger returns to Disney and begins restructuring

  • Peter Hoskins
  • Financial and economic correspondent

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Bob Iger previously ruled out returning to Disney

Bob Iger, less than 24 hours after returning to the Disney chairman position, said he plans to restructure.

One of his first moves was to fire Karim Daniel, director of the media and entertainment sales division.

Daniel was close to the former director of media giant Bob Chapek.

On Sunday, Disney announced Iger’s return as general manager, less than a year after he left the company.

“My intention is to restructure the company to respect the creativity that is at the heart and soul of our identity,” Iger said in an email to employees, seen by the BBC. “I fundamentally believe that storytelling and storytelling is the power of our company and that will be the basis of our restructuring approach.”

He added that he had hired a number of managers to design a new structure that would return decision-making power to creative groups while streamlining costs.

These moves represent a quick cancellation of a major initiative initiated by former director Bob Chapek.

During his first year, Chapek was general manager of the company, Disney’s media and entertainment distribution arm.

This led to the merger of film and television distribution with the entertainment division.

Igor, who served as the company’s CEO for 15 years, has been reinstated to lead the company through turbulent times as the stock price has plummeted and Daisy+ continues to suffer losses.

Igor told The New York Times in January it was ridiculous to think he could one day return to the company.

“I was general manager for a long time and now I’m gone,” he added.

Igor has agreed to hold the position for a further two years, during which time he will be looking for a successor.

“I’m very optimistic about the future of this great company and I was over the moon when I was asked to return as general manager,” he said.

Igor had founded the Disney+ division during the decade and a half that he had chaired the board, and the company also acquired Pixar Animation Studios, Marvel comics company and Murdoch’s 21st Century Fox, as well as Lucasfilm, a Star Wars film producer.

Disney in New York shares rose 6 percent after the announcement of Igor’s return as general manager.

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