Big news from the House of Mouse overnight as Disney CEO Bob Iger has stepped down with immediate effect. In announcing his resignation Iger confirmed that he is to be immediately replaced by Bob Chapek.
Iger took up the post of CEO at Disney back in 2005, and during his tenure has presided over what has arguably been a new golden age for the company. He oversaw the acquisitions of a number of high profile companies including Pixar, Marvel, Lucasfilm and most recently Fox.
In a statement Iger said “With the successful launch of Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO. I have the utmost confidence in Bob and look forward to working closely with him over the next 22 months as he assumes this new role and delves deeper into Disney’s multifaceted global businesses and operations, while I continue to focus on the Company’s creative endeavors.”
His successor, Bob Chapek, has been with the company since 1993, most notably as chairman of Disney Parks, Experiences and Products since 2018. During a conference call with investors today, Iger noted that Disney executives identified Chapek has his replacement some time ago.
“I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees,” Chapek said. “Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team.”
We wish Chapek all the best for his new role.
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