Bob Iger returning as the Walt Disney Company Chief Executive Officer, replacing Bob Chapek

Bob Chapek, who has been CEO of the Walt Disney Company since 2020, is stepping down, and his predecessor Bob Iger is returning to the role effective immediately.

Iger has agreed to serve as Disney's CEO for two years, during which time he will work with the company's board to develop a successor.

In a statement, Disney said that Iger will "focus on the company's creative strategy, its streaming business, and its international operations."

Iger previously served as Disney's CEO from 2005 to 2020, during which time the company acquired Pixar, Marvel, Lucasfilm, and 21st Century Fox.

Under Iger's leadership, Disney also launched its streaming service, Disney+, which has grown to over 164 million subscribers worldwide.

Chapek's tenure as CEO was marked by a number of challenges, including the COVID-19 pandemic, the opening of the new Shanghai Disney Resort, and the launch of Disney+.

In recent months, Chapek has also faced criticism from some investors and employees over the company's handling of the COVID-19 pandemic and its streaming strategy.

Iger's return to Disney is seen as a positive move by many investors and employees, who believe that he will be able to help the company weather the current challenges and continue to grow its streaming business.