Disney made the announcement today that Bob Chapek has been named Chief Executive Officer effective immediately. Now former CEO Bob Iger will stay on through his contract as Executive Chairman. His contract ends on December 31, 2021.
Iger commented about the announcement saying, "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. 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."
Chapek's former position was chairman of Disney Parks, Experiences and Products.
