Bob Iger steps down as Disney CEO, replaced by Bob Chapek

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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.

Chapek’s current role is described by the company as overseeing “the global hub where Disney’s 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 Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal…

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