Bob Iger Steps Down as Disney CEO Effective Immediately

29 Février, 2020, 01:14 | Auteur: Christine Menetries
  • Bob Chapek Disney CEO Shocker – Bob Chapek Takes Over For Bob Iger

Iger abruptly stepped aside as Walt Disney's chief executive officer, handing the reins to theme parks head Bob Chapek after years of speculation over who would succeed the longtime CEO of the world's largest entertainment company.

Iger will remain a part of Disney, as executive chairman, through the end of 2021.

After years of wondering the succession plan for Iger, this is it.

Curiously, outgoing CEO Iger's now-amended contract retains him as a full-time employee of the company, reporting "directly and exclusively" to the board of directors, while Chapek will continue reporting to Iger.

Chapek plans to continue Iger's legacy of "creative excellence, technological innovation and worldwide expansion", he said. "Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation and thoughtful risk-taking", Chapek said.

Disney said he would be replaced by Bob Chapek, a 27-year veteran of the company who was most recently chairman of Disney's parks business. Under his leadership, he oversaw the Disney theme parks' largest expansion in its sixty-year history including the opening of Shanghai Disneyland and almost doubled the Disney Cruise Line fleet.

Why it matters: Iger is credited with having successfully led Disney through a series of risky but highly successful acquisitions that not only solidified the company's entertainment dominance, but also ultimately reshaped the entire media landscape.

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Disney acquired Pixar in 2006, Marvel in 2009, Lucasfilm and the Star Wars properties that go with it in 2012 - deals that have helped fuel the media giant's prolific output in recent years.

Chapek's list of accomplishments includes adding more ships to Disney Cruise Line and more to the company's travel and vacation offerings. As the company shapes its roadmap for the future, Chapek will have to make some tough decisions on whether to sell assets, including ABC and ESPN, according to Wells Fargo analyst Steven Cahall.

"I am enormously proud of all that we have accomplished creatively, financially and strategically", Iger said. "I felt that I should be spending as much time as possible on the creative side of the business. we identified Bob quite some time ago as a likely successor of mine".

He also came up with the scheme to raise park ticket prices during the busiest times of the year, which helped keep profits up even as attendance last year was flat.

In his new role, Chapek will be responsible for overseeing the company's "business segments and corporate functions".

Bob Chapek is the new CEO of Disney, effective immediately, the company announced Tuesday.


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