It was revealed yesterday that Bob Iger has stepped down as Disney’s CEO and he has been replaced by another Bob, Bob Chapek.
It was revealed that Bob Iger will stay on as the executive chairman and he revealed that he wants to focus on Disney’s creative strategy through the remainder of his tenure.
As for his successor, Chapek, he was most recently the chairman of Disney parks, experiences and products and he will assume the role of CEO effective immediately.
This news wasn’t very well met by the marker as shares of Disney fell around 2.5% after the announcement was made.
After the announcement, Iger and Chapek were interviewed by CNBC’s Julia Boorstin and Iger said the CEO reporting structure is a way to ensure a smooth transition.
“We’re not concerned at all about creating any confusion,” Iger said during the interview.
Bob Iger has stepped down as Disney’s CEO
Iger has been serving as Disney’s CEO since 2005.
He’s been there for a long, long time, and people have been discussing his retirement for quite some time now.
However, he’s pushed back his retirement several times over the years.
This is why this sudden announcement has come as a surprise.
Iger oversaw major projects like the Fox merger and the launch of Disney+.
He was also at the helm when Disney purchased Pixar and Lucasfilm.
This shows that he’s been a pretty successful CEO for Disney.
What do you make of this news? Are you sad to hear that Bob Iger will no longer be Disney’s CEO?
Let us know in the comments below.
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