| Advertisement |
Nov. 23 (UPI) -- Returning Disney chief Bob Iger plans to hold an employee town hall Monday morning to discuss plans for the company. He was rehired as CEO last weekend. According to CNBC, Iger said in a memo to employees he will discuss the future of Disney and answer questions about what's ahead. He'll speak from the Walt Disney Studio Lot in Burbank, Calif.
Advertisement
"On Monday, I will be returning to the Walt Disney Studio Lot, a place I have always loved. I'm eager to be rejoining dear colleagues and meeting new team members who've become part of our company this past year," Iger wrote in the message.
Iger returned as CEO on Monday, after he stepped down in February 2020 to become Disney's executive chairman.
The 71-year-old is returning to lead the company following a mixed fourth quarter that saw its Disney+ subscription service grow by 12.1 million users but at a cost of $1.5 billion. On the year, net income for the company was $162 million, representing an only 1% increase from 2021.
The surprise move means Bob Chapek -- who was appointed chief executive after Iger and had previously served as chairman of Disney Parks, Experiences and Products -- will be stepping down.
Iger was Disney's chief executive from 2005 to 2020 and is credited with acquiring some of its biggest brands, including Pixar, Marvel, Lucasfilm and 21st Century Fox.
