Disney’s Bob Iger To Step Down As CEO


Disney has had the most prolific years in recent times. They literally and figuratively overturned everything in the business in the last decade. Not only did they build, create and bank on two of the highest grossing franchises ever. They quadrupled their earnings by making several live action adaptation of tales as old as time. Now after successfully launching a streaming service they are more than ready to take over the world. They have sort of panned out how their future will go about by planning the most tiniest of details. But the fact that they have so much to work with is only because of the tireless work put in by each and everyone who works there. Right from the top to bottom.

One of those employees has been Disney’s Bob Iger, who has been for the longest time serving devotedly in the position of CEO. It would not be wrong to say it was a lot of his efforts that were reflected in all these years. But now he is going to leave this position something that he has been hinting at for a long time. He was giving interviews saying that he would step down immediately after his contract ends. But seems like it has happened before that. Iger will continue working with the company as the Executive Chairman and will direct the Company’s creative endeavors until the end of his contract on December 31, 2021. Iger said,

“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 said in a statement. “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.”

He would be replaced by none other than Bob Chapek, former chairman of Disney parks, experiences and products who will take on the role of CEO effective immediately. Though it is quite sudden and a little bit unexpected there is no doubt that he will do an amazing work.

Bob Chapek is also a treasure member of the Disney community as he previously worked as the  President of Walt Disney Studios Home Entertainment, where he launched the “vault strategy” which proved to be immensely profitable for the company.


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