Bob Iger Steps Down as Disney CEO Effective Immediately

Bob Iger, who served as CEO of The Walt Disney Company since 2005 and oversaw some of the company’s biggest acquisitions like Marvel and Lucasfilm, has stepped down from the role effective immediately. Replacing Iger is Bob Chapek, the former Chairman of Disney Parks, Experiences, and Products. In a press release sent out today the Walt Disney Company Board of Directors announced that Chapek will step up into the CEO role starting today. Iger will remain with the company as Executive Chairman until December 31, 2021. “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,” Iger said in a statement. “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 business and operations, while I continue to focus on the Company’s creative endeavors.” Chapek has been with the Disney company for nearly three decades serving as the head of its Parks, Experiences, and Products since 2018 and as Chairman of Walt Disney Parks and Resorts since 2015. Chapek oversaw the opening of Shanghai Disney Resort, doubling the Disney Cruise Line fleet, and overseeing Star Wars: Galaxy’s Edge. Iger, who served as CEO of Disney since 2005 has defined his tenure with expansive growth for Disney. Iger oversaw the 2006 acquisition of Pixar for $7.4 billion, the 2009 acquisition of Marvel for $4 billion, the 2012 acquisition of Lucasfilm for $4.06 billion, and the $71.3 billion acquisition of 21st Century Fox in 2019. Developing...  

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