Less than a month after announcing he was going away as CEO to focus on a more creative role for the Walt Disney Company, chairman Bob Iger quietly received his CEO responsibilities amidst the coronavirus epidemic which had a huge financial impact on the company.
In the New York Times, it’s reported that Iger has done the transfer from CEO to creative chairman in the position to retake control as CEO and steer the work at Disney in a dark time that it never has seen before.
Bob has taken over the reins
“And now, Mr. Iger has effectively returned to running the company. After a few weeks of letting Mr. Chapek take charge, Mr. Iger smoothly reasserted control, BlueJeans video call by BlueJeans video call.
The new, nominal chief executive is mentioned, almost kindergarten style, as “Bob C,” while Mr. Iger remains just “Bob.” And his title is “executive chairman” — emphasis on the primary word. He is now intensely focused on remaking a corporation which will emerge deeply changed by the crisis.
COVID-19 Has taken us back!
Disney Parks around the world remain “closed until further notice” and furloughs of cast members and film studio employees have begun. Iger recently stated in an interview that the parks will take on new health and safety measures to make sure they are taking care of staff and guests, as well as prepare for future epidemics moving forward. The New York Times continues, sharing in a little more detail what Iger plans to do “Mr. Iger, meanwhile, is trying to work out what the corporate will appear as if after the crisis. One central challenge is to determine best practices for the corporate and therefore the industry on the way to bring people back to the parks and rides while avoiding the virus’s spread.
The Challenge Ahead For Disney?
Mr. Iger also sees this as a period, he has told associates, to scan across the business and permanently change how it operates. Disney is most likely to reopen with less office space and pay cuts due to the coronavirus epidemic has forced Iger to help steer these rocky waters. It is unknown for how long Iger will be taking on these responsibilities.
As previously stated parks remain closed worldwide. Disney’s film production slate is on hold, with pre-production being done remotely, the company reshuffled its theatrical release calendar, Disney+ series in various stages of production is also expected to get shuffled.