Bob Iger Stepping Down as Disney CEO Effective Immediately, Replaced by Bob Chapek

Just a few minutes ago, the Walt Disney Company dropped a surprising announcement that changes the structure of the Company at its highest level. Bob Iger is stepping down as Disney’s CEO effective immediately, with Bob Chapek serving as his replacement and the seventh CEO in the Company’s long history.

Bob Iger at Mickey’s 90th Spectacular

Iger has held his role as CEO for over 15 years and is stepping down following the “successful launch of Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox.”

Bob Iger ©Disney

He will now take on the role of Executive Chairman where he will oversee Disney’s creative endeavors as well as help to smooth the CEO transition through the end of his contract on December 31, 2021.

©Disney

Bob Chapek, with many commendations from Iger, will be assuming the CEO position effective immediately. He has been working for the company for twenty-seven years, most recently as the Chairman of Disney Parks, Experiences, and Products.

Bob Chapek at the dedication of Star Wars: Galaxy’s Edge 

Of the shift Chapek said, “I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees.”

Disney Parks, Experiences and Consumer Products Chairman Bob Chapek revealed exciting details of new experiences coming to Disney Parks during D23’s Destination D: Celebrating Mickey Mouse fan celebration in Lake Buena Vista, Florida. (Ty Popko)

Iger will be on CNBC at 5:30PM EST to discuss his succession. We’ll be keeping an eye on the developments of this story and will sure to report with any changes.

What do you think of the sudden switch in Disney’s CEO? Tell us in the comments. 

Join the AllEars.net Newsletter to stay on top of ALL the breaking Disney News! You'll also get access to AllEars tips, reviews, trivia, and MORE! Click here to Subscribe!

Click below to subscribe

Leave a Reply

Your email address will not be published. Required fields are marked *

6 Replies to “Bob Iger Stepping Down as Disney CEO Effective Immediately, Replaced by Bob Chapek”

  1. It makes sense for Iger to step down and stay on board until his contract is up but the word immediately gets me….did something happen personally or professionally? I just hope this change keeps Disney magical!

  2. Bye-Bye. Good Ridance I hope his replacement gets Disney back on track, less political, and back to traditional family values. Too bad someone that actually has Disney in their name was mot the named successor, oh well.