Bob Iger, who served as Disney chief executive for 15 years, has replaced successor Bob Chapek, whose rocky tenure lasted just 33 months.
Disney said Iger will serve for two years with “a mandate from the Board to set the strategic direction for renewed growth”.
Chapek, who took the reins weeks before the onset of the Covid-19 pandemic in February 2020, stepped down from the position, the company said.
“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,” said Susan Arnold, the chair of the board, in a statement. The board renewed Chapek’s contract this summer.
Disney shares are down 41 per cent this year.