Disney names Bob Chapek new CEO replacing Bob Iger

[Phillip]

Breaking news...

Walt Disney Co. names Bob Chapek new CEO. Bob Iger to stay on as company chairman

The Walt Disney Company has named a new CEO.

Bob Chapek is replacing Bob Iger, effective immediately, the company announced Tuesday.

Chapek was most recently chairman of Disney Parks, Experiences and Products.

Iger will stay on as chairman through Dec. 31, 2021.

"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," said Iger in a statement.

Last year, Iger said he planned to step down in 2021. He had previously set a target departure date of 2018, but in March 2017, his contract was extended to July 2, 2019. That December it was extended again through the end of 2021.

Iger oversaw the expansion of the Mouse House, which added 21st Century Fox's movie and TV studios and other assets including Fox's 30% stake in Hulu. The $71.3-billion transaction closed in March 2019.

Chapek is the seventh CEO in company's nearly 100-year history, Iger said, saying that Chapek "has proven himself exceptionally qualified to lead the Company into its next century."

https://www.usatoday.com/story/money/2020/02/25/disney-ceo-bob-iger-replaced-bob-chapek/4871705002/

 

[MikaelaMuppet]

I didn't even know that he would step down right away and would actually wait until 2021.

 

[datman24]

Given this guy's track record working for Disney, I have a bad feeling we may get even LESS new Muppet content than we already do now.

 

[MikaelaMuppet]

Given this guy's track record working for Disney, I have a bad feeling we may get even LESS new Muppet content than we already do now.

I hope this won't be the case.

 

[Buff Beaker]

Wow this is crazy. His contract ends next year so I wonder why Iger is stepping down so quickly. I hope Chapek does well but his track record of being very cheap and lots of budget cuts does not bode well.

 

[D'Snowth]

I'm surprised Duke hasn't weighed in on this yet.