- On Tuesday Disney announced that it’s current CEO Bob Iger will be stepping down from its current position and will be serving as executive chairman on an immediate basis
- Bob Chapek is said to be the CEO of Disney who also served as chairman of Disney Parks.
Disney is not just an entertainment park or a cartoon company, it’s an emotion that is deeply imprinted in toddlers. Which is why Disney keeps on restructuring its leadership positions from time to time.
Current CEO of Disney Bob Iger to step down immediately while Bob Chapek will be CEO of Disney at the earliest. Chapek will continue to report Iger and be appointed to the board of directors at a larger date.
Bob Iger after stepping down from his current position will be focusing on Disney’s creative strategy through his remaining tenure. After this news, shares of Disney fell about 2.5% soon after hours.
“We’re not concerned at all about creating any confusion.” – commented by Bob Iger on this sudden change in leadership roles.
Iger will remain executive chairman of Disney through the end of 2021 according to the company. Bob Iger has been the CEO of Disney since 2005. He has pushed back his retirement several times, but this Tuesday he surprised everyone with his sudden decision.
Stepping down from Disney’s CEO happened 22 months before then what was expected. Iger wanted to step down because he wanted to focus on the creative side like the Fox merger and launch of Disney+.
Let’s throw some light on Bob Iger who has given his all to Disney to make it as big as one can imagine being.
Bob Iger – A Short Brief:
Bob was named president and COO of Disney in 2000 and later succeeded the then CEO of Disney Michael Eisner in 2005. Iger is said to earn around $44.9 million in 205.
During his tenure, Disney broadened its intellectual properties and its presence in the international market. He oversaw the acquisition of Pixar in 2006 for a mind whopping deal of $7.4 billion. Then Marvel Entertainment in 2009 for $4 billion, Lucasfilm in 2012 for $4.06 billion. 21st Century Fox in 2019 for $71.3 billion.
“With the successful launch of Disney’s direct-to-consumer business and integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO” – Bob Iger said in a statement alongside the announcement.
Bob Chapek – Disney’s CEO:
Bob Chapek’s nearly 3 decades at Disney have been marked by growth and transformation. A visionary leader, he has been focusing on creativity and cutting-edge technology to drive expansion and improve the guest and consumer experience.
Becoming the 7th CEO in Disney’s 100-year history, Chapek served as Chairman of Disney Parks. During his tenure, Disney Parks saw the largest investment and expansion in its sixty-year history including successful opening of Shanghai Disney Resort, nearly doubling the Disney Cruise Line fleet, introducing the most technologically advanced and immersive lands in the parks’ history, tar Wars: Galaxy’s Edge at Disneyland Resort and Walk Disney World Resort.
Prior to joining Disney, Bob Chapek worked as a brand manager at H. J Heinz Company and in advertising at J.Walter Thompson. He has a degree in microbiology from Indiana University Bloomington and received his MBA from Michigan State University.
Summing Up:
After this announcement, Disney’s stocks did fell, but the fall happens only to rise up with an unbeatable growth.
The company is a conglomerate, Disney’s CEOs will keep coming and going (depending on the dedication and creativity towards the idea), but the company will go on forever and it will keep wooing kids and adults from all around the world.
On behalf of Next Big brand, we wish all the best to Disney and Bob Chapek to move ahead in upwards direction only.
