Iger will remain as chairman through 2021
Photo by Jeff Kravitz/FilmMagic
Disney CEO Bob Iger will be replaced by Disney Parks, Experiences and Products chairman Bob Chapek as CEO effective immediately. Iger will stay on as executive chairman through the end of 2021.
Chapeks current role is described by the company as overseeing the global hub where Disneys stories, characters and franchises come to life. Chapek assumed leadership of the new job in March 2018. Chapek was one of the leading candidates to replace Iger, who announced his retirement in 2018. Chapek beat out other top candidates, like direct-to-consumer head Kevin Mayer for the role.
With the successful launch of Disneys 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 said in a press release. I have the utmost confidence in Bob and look forward to working closely with him over the next 22 months as he assumes this new role and delves deeper into Disneys multifaceted global businesses and operations, while I continue to focus on the Companys creative endeavors.