The California-based entertainment conglomerate announced Sunday evening that the 71-year-old will replace Bob Chapek as CEO for the next two years. The surprise move sent Walt Disney shares up more than six per cent Monday. (The Logic)

Talking point: Iger previously left Disney in February 2020 after more than 14 years as CEO and remained chairman until December 2021. Under his leadership, the company became an intellectual property behemoth by acquiring animation studio Pixar, comic-book creator Marvel, and Star Wars production company Lucasfilm, helping to create a strong content library for streaming service Disney+. Iger joins the likes of Apple’s Steve Jobs, Starbucks’s Howard Schultz, Twitter’s Jack Dorsey and other so-called boomerang CEOs who have been called back to their former roles in times of crisis. Analysts say Iger will need to cut costs and turn around Disney+ at a time when streaming giants face an era of slowing subscriber growth.