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The Walt Disney Company Board of Directors unexpectedly decided to replace Bob Chapek as CEO with Bob Iger, his predecessor.
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From 1995 to 2020, Bob Iger was the chief executive officer of the Walt Disney Company. Bob Chapek was his successor.
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Bob Iger was the Walt Disney Company's CEO when Pixar was acquired in 2006.
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Marvel Comics properties were acquired in 2009, and Lucasfilm in 2012.
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These acquisitions collectively cost $ 15 billion, but their profit margins over the years more than compensated.
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Disney lost $1.5 billion on its Disney+ streaming service. Costs of original programming were a significant factor.
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The Walt Disney Company shares rose to more than 8% in pre-market trading Monday, the day after Bob Iger was reinstated as CEO.
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