Former Disney CEO Iger comes back from retirement

Former Disney CEO Bob Iger is coming out of retirement.

Bob Iger is returning to Walt Disney as chief executive less than a year after he retired, a surprise comeback that coincides with the entertainment company's attempt to boost investor confidence and profits at its streaming media unit.

Mr Iger, 71, who was chief executive for 15 years and retired as chairman last year, has agreed to serve as CEO for two more years. He will replace Bob Chapek, who took over as Disney CEO in February 2020 just as the Covid-19 pandemic hit, leading to its park closures and restrictions on visitors globally.