Disney’s CEO succession plan has been the subject of speculation for years as Bob Iger delayed plans to leave the company Other execs who were rumored as potential successors included Fox TV exec Peter Rice & Disney direct-to-consumer chairman Kevin Mayer
In a stunning move that marks the end of an era for one of the entertainment industry’s great corporate success stories, Bob Iger on Tuesday stepped down as chief executive of Walt Disney Co. after 15 years in the job.
He also wanted to free himself up to focus on creative aspects of the business, he said. “I could not do that if I were running the company on a day-to-day business,” Iger said.By naming Chapek to the CEO role immediately, Disney’s board avoids a repeat of what happened four years ago when Iger’s apparent successor, TBut some company insiders and industry analysts were taken aback by the news.
“With the successful launch of Disney’s direct-to-consumer businesses and the integration of 21st Century Fox well underway, I believe this is the optimal time to transition to a new CEO,” Iger said in a statement. “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.
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