On Tuesday, Disney announced that Bob Iger would be stepping down as CEO and handing over the reins to the chairman of Disney Parks, Bob Chapek. Bob Iger has a contract as CEO into 2021 but states that this was the best time to begin the transition after the acquisition of Fox and a controlling interest of Hulu. Iger will stick around as Executive Chairman till the end of his contract to assist in the transition. There will be a conference call on Wednesday that will delve deeper into the reasons for Iger’s stepping down and we will share those details as soon as they are released.
Bob Iger has been CEO of Disney since 2005 and has been the most impactful person at Disney since Walt himself. In Bob Iger’s tenure he as acquired Pixar, Lucasfilm, Marvel, and Fox, all of which bolstered Disney’s library for the emerging direct-to-consumer market. Iger saw the launch of Hulu, ESPN+ and most recently Disney+. Bob Iger shaped Disney for the next century and will be seen as one of the most influential people in Disney’s history.
The new CEO, Bob Chapek, has been in the Disney family for 27 years, leading divisions including Home Distribution, Consumer Products and most recently as Chairman of Parks and Resorts. Under his leadership, Disney has doubled it’s Disney Cruise Line fleet and opened Shanghai Disneyland. He also opened Galaxy’s Edge and set forth future projects like the Star Wars: Galactic Starcruiser , a Star Wars themed hotel, and Avengers Campus coming to California Adventures.
Iger will be missed as a charismatic leader that grew Disney into a massive powerhouse but Bob Chapek has the experience and temperament to be a suitable successor.
Sources: CNBS Businesswire
