Bob Iger strikes quick to dismantle Chapek’s reorganization of Disney

New York
CNN Business
 — 

One day after the shock announcement of Bob Iger’s return to Disney, and the resulting ouster of his successor-turned-predecessor Bob Chapek, an astonished Hollywood is grappling with what exactly the move will mean for the entertainment behemoth’s short-term and long-term future.

But while there is no shortage of questions that are being asked, two things are certain. First, investors are thrilled to have him once again reigning over the Magic Kingdom. Disney’s shares ended Monday up more than 6% on a day that the Dow Jones was slightly down. Second, Iger is moving fast — not even waiting a full 24 hours to announce sweeping changes — to dismantle Chapek’s reorganization of the company.

The speed at which Iger is hurtling is especially remarkable given that Disney’s board only made its overture for Iger to return to the embattled company on Friday….

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