Bob Iger, CEO of Disney

Bob Iger’s return isn’t unusual. Several other CEOs have been asked to resume their previous roles.
This is his second time serving as the company’s CEO, after stepping down in 2020.
Here are four other boomerang CEOs who’ve returned to the companies they once ran.

Robert Iger, 71, will retake his role as CEO of Walt Disney Co. after the board of directors ousted its most recent leader, Bob Chapek. 

Iger acted as Disney’s CEO from 2015 to 2020. He initially left due to his wavering leadership, including “listening less and maybe with a little less tolerance of other people’s opinions,” according to an exclusive interview with CNBC. 

Despite stating publicly that he didn’t have plans to return to Disney, and focusing instead on investing and advising startups, he was brought back to lead the company through an adjustment period, according to a statement from chairman of the Disney board Susan Arnold. 

“The board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period,” Arnold told the Wall Street Journal in a statement.

Iger takes the helm after a successful year for Disney’s theme-park business: Parks revenue increased to $7.4 billion in the fourth quarter from $5.5 billion in the same quarter last year. However, he’s tasked with improving Disney’s streaming service content and strategy, according to the Wall Street Journal. In the most recent quarter, the streaming service lost $1.47 billion, which is more than double the loss from 2021.

Iger is one of a handful of boomerang CEOs who’ve returned to the companies they once ran. Here are four other CEOs who came back for a second act, listed in chronological order of their return. 

  Pentagon debuts its new stealth bomber, the B-21 Raider

Robert Iger, Walt Disney Co.Robert Iger, Walt Disney CEO

Name: Robert Iger

Company: Walt Disney Co. 

When he originally started: 2015

When he originally left: 2020. However, he remained a chairman until 2021, when he left the company entirely. 

When he returned: 2022. Iger returned to focus on improving the streaming service, according to The Wall Street Journal.

 

Howard Schultz, StarbucksHoward Schultz, CEO of Starbucks

Name: Howard Schulz

Company: Starbucks

When he originally started: Became CEO in 1987. 

When he originally left: 2000. Schultz departed his role and became global chief strategist and chairman to focus on international expansion, according to Starbucks.

When he returned: 2008 and 2022. In 2008, he replaced Jim Donald as CEO after the company stock dropped 50% in one year. He was tasked with bringing the company to sustainable, profitable growth, according to Starbucks.

However, Schultz stepped down for the second time in 2017. Then, he retired from the company and his chairman position in 2018. 

In April 2022, he was reinstated as interim CEO until the next CEO Laxman Narasimhan takes over in 2023. 

 

Jack Dorsey, TwitterJack Dorsey, founder of Twitter

Name: Jack Dorsey

Company: Twitter

When he originally started: Cofounded the company in 2006.

When he left: 2008. Dorsey was fired when the board of directors …read more

Source:: Business Insider

      

(Visited 2 times, 1 visits today)
News

Leave a Reply

Your email address will not be published. Required fields are marked *