Bob Iger to step down as Disney chief

Robert A Iger will step down as chief executive of The Walt Disney Co after 15 years at the helm of the company, Disney said on Tuesday.

He will be replaced by Bob Chapek, who has most recently served as chairman of Disney’s parks business.

Iger, 69, will take on the role of executive chairman — and direct Disney’s creative endeavours — to ensure a smooth transition through the end of his contract on Dec 31, 2021.

Bob Chapek, Disney's chairman of parks, during the opening ceremony for "Toy Story Land" at Disney's Hollywood Studios in Lake Buena Vista, Fla., June 30, 2018. Bob Iger will step down as chief executive of Walt Disney after 15 years at the helm of the company, the company said on Feb. 25. He will be replaced by Bob Chapek, who was most recently chairman of Disney’s parks business. (Scott McIntyre/The New York Times)

“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 CEO,” Iger said in a statement.

Disney shares dropped 3% in after-hours trading.

 

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