Bob Iger

Former Walt Disney Co Chief Executive Bob Iger is returning to the media company as CEO less than a year after he retired

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A surprise appointment that comes as the entertainment company struggles into a profitable business

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Disney said in a statement late on Sunday. He will replace Bob Chapek, who took over as Disney CEO in February 2020

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While Chapek steered Disney through the COVID-19 pandemic

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Disney disappointed investors this month with an earnings report that showed continued losses

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Susan Arnold, chair of Disney's board, said in the statement

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Bob Iger is uniquely situated to lead the Company through this pivotal period

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Iger exited Disney on a high note as the company led the entertainment industry's battle against Netflix in the streaming wars

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Iger said in a memo to employees seen by Reuters

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