Walt Disney Company Names Bob Chapek To Succeed Bob Iger As CEO

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The Walt Disney Company has named Bob Chapek as the successor to CEO Bob Iger.

Today, the Walt Disney Company announced that Bob Bob Chapek will immediately succeed Bob Iger as its new CEO, becoming the seventh person to hold the position in the companies history. Now, Bob Iger will lead the Disney board as executive chairman until December 31, 2021, when his contract expires.

Bob Iger made the following statement on his decision to step down as Disney’s CEO and expressed his confidence in Bob Chapek:

“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.”

Bob Chapek has been with Disney since 1993 and has served as the chairman of Disney Parks, Experiences and Products since 2018. With his new contract, which began on February 24 and expires on February 28, 2023, Bob Chapek’s annual base salary has increased to $2,500,000.

Now, Bob Chapek will report to Bob Iger and the board of directors. In the following statement, Bob Chapek noted that he is honored to assume the role of Disney’s CEO and commended Bob Iger for his years of work with the company:

“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. Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team.”

During his tenure as Disney’s CEO, a position he assumed in 2005, Bob Iger has led the company’s acquisitions of Pixar, Marvel, and Lucasfilm. Projects from the aforementioned production studios contributed to Disney having a record seven films reach the $1 billion mark at the global box office in 2019 alone. Bob Iger also presided over Disney’s acquisition of streaming tech provider BAMTech and the launch of the Disney+ platform in November 2019.

Stay tuned to Heroic Hollywood for the latest news on Disney’s future with Bog Iger and Bob Chapek in their new roles!

Source: The Hollywood Reporter

Sebastian Peris

Sebastian Peris

Canadian film buff, political junkie, comic book geek, and board game enthusiast.