Bob Iger Resigns As Disney CEO

Bob Iger has resigned as the Chief Executive Officer (CEO) of Walt Disney company.

Bob Chapek was announced as the new CEO by the Board of Directors with immediate effect.

However, Mr Iger, whose contract expires on December 31, 2021, is now the executive chairman and will run the administrative function of the company till the end of his contract.

In a statement, 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.”

Disney Company’s new CEO Bob Chapek most recently served as chairman of Disney Parks, Experiences and Products.

Iger said he has the “utmost confidence” in Chapek and looks forward to “working closely with him over the next 22 months as he assumes this new role.”

Reacting to the news of his appointment, Chapek said in a statement: “I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world. Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team.”