Connect with us
Bob Chapek will take over as Disney CEO after Bob Iger steps down.

APolitical

Disney CEO Bob Iger steps down, Bob Chapek named new head

Chapek is only the seventh CEO in Disney history.

Disney CEO Bob Iger, who steered the company through successful purchases of Star Wars, Marvel and Fox’s entertainment businesses, is stepping down immediately, the company said in a surprise announcement Tuesday.

The Walt Disney Co. named as his replacement Bob Chapek, most recently chairman of Disney’s parks, experiences and products business.

Iger will remain executive chairman through the end of his contract Dec. 31, 2021.

“I will continue to conduct the company’s creative endeavors while also leading the board,” Iger said on a conference call.

In a statement, Iger said it was an “optimal time” for him to step down following Disney’s acquisition of Fox’s entertainment assets and the launch of Disney Plus streaming service in November.

“Did not see this coming — Wowza,” tweeted LightShed media analyst Rich Greenfield.

Iger became chief executive of the home of Mickey Mouse in 2005 after a shareholder revolt by Roy E. Disney led to the ouster of longtime chief Michael Eisner. Iger steered Disney through successful acquisitions of Lucasfilms, Marvel, Pixar and other brands that became big moneymakers for Disney.

He was the No. 2 highest paid CEO in 2018, as calculated by The Associated Press and Equilar, an executive data firm. He earned $65.6 million. The top earner was Discovery’s David Zaslav who earned $129.5 million.

Susan Arnold, the independent lead director of the Disney board said succession planning had been ongoing for several years.

Written By

Sign up for Sunburn

Receive our team's agenda-setting morning read of what's hot in Florida politics. Delivered straight to your inbox Monday through Friday.

Florida Politics is a statewide, new media platform covering campaigns, elections, government, policy, and lobbying in Florida. This platform and all of its content are owned by Extensive Enterprises Media.

Publisher: Peter Schorsch

Contributors & reporters: Phil Ammann, Renzo Downey, Rick Flagg, A.G. Gancarski, Joe Henderson, Janelle Irwin, Jacob Ogles, Scott Powers, Bob Sparks, Andrew Wilson.
Email: Peter@FloridaPolitics.com
Phone: (727) 642-3162
Address: 204 37th Avenue North #182
St. Petersburg, Florida 33704

Connect
Sign up for Sunburn

Receive our team's agenda-setting morning read of what's hot in Florida politics. Delivered straight to your inbox Monday through Friday.