Disney announced Tuesday that Bob Iger ceases to be its CEO with immediate effect and will be replaced in office by Bob Chapek, a house executive.
Iger will assume the position of executive president, directing Disney’s creative projects and leading its board until the end of his contract, in December 2021, in order to ensure an adequate transition, the company said in a statement.
“I think this is the optimal time for a transition to a new CEO,” said Iger himself in the note, which highlighted the recent success of the launch of the company’s streaming service and the progress in the integration of Twenty -First Century Fox in the group.
Iger is one of the most important business figures in Disney’s history and, under his mandate, the Mickey Mouse company has become a giant of unrivaled entertainment in today’s Hollywood.
For example, Iger approved Disney’s purchases at Pixar, which dominates animated films; Marvel, the kings of the very successful subgenre of superheroes; Lucasfilm, the “Star Wars” factory, and Fox, a historical Hollywood studio.
Among the achievements of his curriculum, in addition to the modernization and recovery of “Star Wars” and the impetus to the world of superheroes with Marvel, the launching last year of Disney +, the “streaming” platform of Disney, stands out.
To get an idea of the company’s dominance in the current scene, just look at the ten highest grossing films of 2019 worldwide: seven of them belong to Disney and the number one corresponds to “Avengers: Endgame”, the jewel that crowned the empire of Marvel and that is the highest grossing tape in history (regardless of inflation).
Chapek, who entered Disney in 1993 and now led the Parks, Experiences and Products division, will become the seventh CEO in the nearly 100 years of Disney history.
The executive declared himself “incredibly honored” to assume the leadership of “the best company in the world” and promised to continue the path of innovation and expansion opened by Iger.
Disney’s announcement came at the close of Wall Street and, after meeting, its titles lost approximately 2.5% in electronic operations after the session.
During the day, the company’s shares had fallen by 3.62%, on a day of widespread falls on the New York Stock Exchange.