Leadership Changes - Disney's recent CEO change marks a significant moment in the industry, being the second leadership transition in six years [1] - Bob Iger, who led Disney for decades, had a notable legacy shaped by major acquisitions during his first tenure, including Pixar, Marvel, Lucasfilm, and 20th Century Fox [2] Succession Issues - Iger's choice of Bob Chapek as his successor in 2019 was controversial, as Chapek's tenure was marred by challenges, including the pandemic and internal tensions with Iger [3][4] - Chapek's leadership faced scrutiny due to a lack of decisive action on social issues and a high-profile dispute with actress Scarlett Johansson, leading to his dismissal [7][8] Return of Bob Iger - Upon returning as CEO in 2022, Iger confronted a company in turmoil and aimed to rectify the succession process while addressing operational challenges [9] - Iger successfully resisted activist investor Nelson Peltz's attempts to gain a board seat, which would influence the next CEO selection [10] Strategic Focus - Iger implemented significant cost-cutting measures, including laying off 7,000 employees, and shifted focus back to quality content for Disney+ and theatrical releases [10][11] - The company announced major investment plans for its theme parks and cruise ships, recognizing that the experiences segment is a key profit driver despite Wall Street's focus on streaming [12]