Bob Iger returns as Disney CEO after less than a year in retirement

Bob Iger has returned as chief executive of the Walt Disney Company after less than a year in retirement. Shares soared on the development.

The company's board announced Iger's stunning return Sunday night and said Bob Chapek, who succeeded Iger in 2020, had stepped down from the position.

"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," board Chair Susan Arnold said in a statement.