Disney CEO Bob Iger Steps Down Effective Immediately

The Board of Directors of The Walt Disney Company announced that effective immediately that Bob Iger has stepped down as Chief Executive Officer. Taking the helm directly will Bob Chapek, who most recently led the theme parks division, will be the new CEO of the Walt Disney Company.

Disney CEO Bob Iger Steps Down Effective ImmediatelyDisney CEO Bob Iger Steps Down Effective Immediately

During his 15 years as Disney's Chief, Iger has been responsible for acquisitions such as Pixar, Marvel, LucasFilms, and 20th Century Fox, as well as overseeing the opening of Disney's first theme park in mainland China and spearheading the launch of the Disney+ streaming service. Bob Iger will stay on for a time as the Executive Chairman of the Walt Disney Company Board of Directors until 2021 and is looking to spend more time working in Walt Disney Company creative endeavors.

While discussions of Iger's departure have been a long time coming, succession plans over the years have been fraught with turmoil. The immediacy of this announcement has left some fans scratching their heads since Iger has close to two years remaining on his contract. Stepping up to fill the big yellow shoes is Bob Chapek who has been serving the company as Chairman of Disney Parks, Experiences and Products since 2018. Chapek said of the switch that he is "honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world."


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