Bob Iger steps down as CEO of Disney.
The acquisition strategy allowed Disney to dominate the box office, generating a record $13 billion in revenue in 2019. It also allowed Disney to take on Netflix with its own streaming service, Disney+, which already has more than 30 million subscribers.
Iger said two factors led to Tuesday's decision: how best to manage the company in its current form and how best to manage the succession and transition. Iger said making the change now provided the best outcome.
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