Disney: Bob Iger in shock return to media giant - BBC

Mr Iger, who was chairman until 2021, has agreed to stay in the job for two years, during which time he aims to find a successor to lead the company.

"I am extremely optimistic for the future of this great company and thrilled to be asked by the Board to return as its CEO," Mr Iger said.

As well as overseeing the launch of Disney's streaming service, Disney+, Mr Iger drove major acquisitions involving the likes of animation studio Pixar, comic book company Marvel, Rupert Murdoch's 21st Century Fox, and Lucasfilm, the home of Star Wars.

Susan Arnold, who heads the company's board, said in a statement that Mr Iger was "uniquely situated" to take Disney through "an increasingly complex period of industry transformation".

But Disney shares have fallen by more than 40% this year and the company has poured billions of dollars into Disney+.

Mr Chapek's tenure as the boss of Disney included the shutdown of its theme parks due to Covid restrictions.

"We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic," Ms Arnold said in a statement.

It came just a couple of weeks after the company said Disney+ had lost nearly $1.5bn (£1.3bn) in the three months to the end of September.

Mr Todd said that Mr Iger's track record at Disney was why he had such respect in the industry, but he added, "That will only get you so far, so I'll be very interested to hear what his vision is for the company going forward.".

Bob Iger says he's proud of his achievements at Disney

Why Bob Iger's Disney departure is a big deal