Bob Iger steps down as Disney CEO

Bob Iger stepped down as CEO of Walt Disney Company. He will remain chairman through to the end of 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 wrote in a statement.

Bob Chapek and Bob Iger

Iger has served as CEO since 2005 and oversaw Disney’s aquisitions of Star Wars, Marvel, and 21st Century Fox, as well as the launch of the Disney+ streaming service.

Disney parks, experiences and products chairman Bob Chapek is taking over, effective immediately. “I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world,” Chapek said in a statement. “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.”

The former CEO said that he has the utmost confidence in Chapek and will be working closely with him over the next 22 months as he assumes this new role. Iger definitely has left his mark over the years and left Disney better than it was before him. Looks like, it’s the end of an era at Disney.