Disney names Bob Chapek as new CEO; Bob Iger to step down immediately

Feb. 25 (UPI) – The Walt Disney Company announced Tuesday that CEO Bob Iger will resign effective immediately and Bob Chapek will take on the role.

Iger will stay on with the company through the end of his contract on Dec. 31, 2021, taking on the role of executive chairman where he will lead the board of directors and remain involved in the creative aspects of the company, Disney said in a statement.

"With the successful launch of Disney's direct-to-consumer businesses and the integration with Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO," Iger said. "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 Disney's multifaceted global businesses and operations, while I continue to focus on the company's creative endeavors."

https://www.upi.com/Top_News/US/2020/02/25/Disney-names-Bob-Chapek-as-new-CEO-Bob-Iger-to-step-down-immediately/6271582667476/