Robert A Iger returns to guide The Walt Disney Company DIS how Managing Directoreffective immediately, the company said in a statement.

Iger, who has been with the company for more than four decades, including 15 years as CEO, has agreed to serve as Disney’s CEO for two years. He reaches Bob Chapekwho has resigned from his post.

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The position of chief executive officer remains unchanged, with Susan Arnold serving in that role, the company said.

In the first week of November, Disney reported fourth-quarter revenue growth of 9% to $20.15 billion, which was close to a brick wall Street estimate of $21.25 billion.

Walt Disney stock is down more than 41% year-to-date.

posts: Iger officially joined Disney’s senior management team in 1996 as President of Disney Corporation ABC group, and received the additional responsibilities of President of Walt Disney International in 1999. In this role, he expanded and coordinated Disney’s presence outside of the United States and laid the foundation for the company’s international growth.

Iger and Chapek’s relationship is reported be leavened for some time, especially in the Aftermath of a story in the New York Times that was published in April 2020.

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