Former Walt Disney Co Chief Executive Bob Iger is returning to the media company as CEO less than a year after he retired, a surprise appointment that comes as the entertainment company struggles to turn its streaming TV services into a profitable business.

Iger, who retired last year after 15 years as chief executive, has agreed to serve as CEO for two more years, Disney said in a statement late on Sunday. He will replace Bob Chapek, who took over as Disney CEO in February 2020.

While Chapek steered Disney through the COVID-19 pandemic, Disney disappointed investors this month with an earnings details ⇒

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