Disney Appoints New CEO as Bob Iger Steps DownDisney Appoints New CEO as Bob Iger Steps Down

Disney has named Bob Chapek as the chief executive officer who will succeed Bob Iger, effective immediately. In his new role, he will oversee all of Disney’s business segments and corporate functions. He will report to Iger, who continue on as executive chairman for the next 22 months, and the Board of Directors. Chapek will be appointed to the Board at a later date.

“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,” says Chapek. “I share his commitment to creative excellence, technological innovation and international expansion, and I will continue to embrace these same strategic pillars going forward. Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation and thoughtful risk-taking.”

Iger will continue on as executive chairman until his contracts end on Dec. 31, 2021. Disney’s creative endeavors will also still lead be led by him even after his contract ends.

“With the successful launch of Disney’s direct-to-consumer businesses and the integration of 21st Century Fox well underway, I believe this is the optimal time to transition to a new [chief operating officer],” says Iger. “I have the utmost confidence in [Chapek] 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.”