Bob Iger Steps Down from Disney, Appoints New CEO

Disney CEO Bog Iger is looking to retire. Disney is a multi-billion dollar company with many subsidiaries. They’ve also recently released a streaming platform known as Disney+. And have recently acquired Twentieth Century Fox for around $52.4 billion. Iger’s contract as CEO was to end in 2021. But it looks like their current CEO is looking to step down a little earlier than expected.

Bob Iger had shared his sentiments about the decision in the following statement:

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 an optimal time to transition to a new CEO.

This isn’t a massive change for Bob Iger, either. He had been CEO since 2005, and with Disney+ being such a success, Iger probably wants a little break from the spotlight. The man has seen the acquisition of many properties, including the entirety of Marvel and LucasArts. Thanks to his direction, Star Wars, and Indiana Jones are now under the Disney banner. In his place, the former CEO will be appointing Bob Chapek, former CEO of the Disney Parks branch.

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.

While he is stepping away from his position as CEO, he is not stepping away from the company. With Chapek taking the place of CEO, Bob Iger will be taking on the role of Chairman. He will maintain his duties until his contract officially ends in 2021. Despite how it sounds, Iger will still be the boss.

Who knows what new things will come. We will all have to wait.