The Walt Disney Company has tapped its former CEO Bob Iger to return to head the company for two years, firing his successor Bob Chapek. The move stunned the entertainment industry and saw Disney’s shares rally after the move which analysts said brought in a familiar and stabilizing hand following a rocky stretch.

Chapek is leaving after the company posted lower than expected earnings in the last quarter. The board determined that he had badly damaged his ability to lead, losing the confidence of Wall Street and most senior Disney executives, as well as many rank-and-file employees. He also angered Hollywood’s creative community with cost-cutting measures and his sometimes blunt approach to talent, while theme park regulars had been unhappy with price hikes.

Iger had previously served as Disney’s chief executive from 2005 to 2020, a run that was widely seen as one of the most successful in Hollywood history. He left Disney entirely at the end of 2021, having served as executive chairman for two years to help Chapek settle into the position. Now, Iger has been given two years by the board to get the company back in shape and groom another successor.

Before he stepped down in February 2020, shifting his role to executive chairman, Iger’s 15-year tenure marked record profitability for the company. According to the Wall Street Journal, “Disney’s share price rose more than fivefold and its annual net income more than quadrupled during that time.”

Disney’s shares have faced challenges since Chapek took over as chief executive. They fell sharply when the Covid-19 pandemic hit, but recovered somewhat through early 2021, only to incur a string of declines since. Even with Monday’s early gains, the company’s shares are down 37% this year.

So, it’s back to Iger.

Susan Arnold, Disney’s chairman, briefly thanked Chapek “for his service” saying in a statement that, “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period.”