One of his first moves has resulted in the exit of the head of company's Media and Entertainment Distribution division, Kareem Daniel.
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 effective immediately, Disney said in a statement late on Sunday.
Mr Daniel was a close ally of the media giant's former boss Bob Chapek.
On Sunday, Disney announced Mr Iger's return as chief executive less than a year after he retired from the firm.During his first year as chief executive Mr Chapek formed Disney's Media and Entertainment Distribution division.
It brought together the company's film and television sales and distribution operations, with Mr Daniel in charge of it.
Mr Iger, who headed Disney for 15 years, was brought back by the company's board to steer it through turbulent times as its share price has plummeted and Disney+ continues to run at a loss. LOS ANGELES, Nov 21 (Reuters) - Bob Iger is returning to Walt Disney Co (DIS.N) 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.
Disney, in a shocking late Sunday announcement, said it had reappointed Iger as chief executive, effective immediately, after Iger's hand-picked successor as CEO, Bob Chapek, came under fire for his management of the entertainment giant.
Iger's return also comes as legacy media companies contend with a rapidly shifting landscape, as ad dollars dry up and consumers increasingly cut off their cable subscriptions in favor of streaming.
The company said Chapek stepped down. Soon after Chapek took over in 2020, Covid-19 became a pandemic and forced the shutdown of Disney's theme parks and prevented it, for a time, from releasing movies in theaters. Nevertheless, the company's stock soared in 2021, before crashing down to earth in recent months.
Shares of Disney have fallen about 37% so far this year. The stock hit a 52-week low Nov. 9.
