The Walt Disney Company has named Bob Chapek its new CEO
Effective immediately, Chapek (pictured right) moves from chairman of Disney Parks, Experiences and Products to the role of chief executive officer for The Walt Disney Co.
The outgoing CEO of Disney, Bob Iger (left), assumes the role of executive chairman. In his 15 years with the company, he oversaw the acquisition of Pixar, Marvel, Lucasfilm and Twenty-First Century Fox, as well as the launch of Disney+. He will direct the company’s creative endeavors and assist the Disney board in a successful transition until his contract ends on Dec. 31, 2021.
The Disney board independent lead director, Susan Arnold, said in a statement that the planning for Iger’s successor has been in the works for several years.
As CEO, Chapek will directly oversee all of Disney’s business segments and corporate functions and will report to Iger and the board of directors. He will be appointed to the board at a later date, while an appointment for the head of Disney Parks, Experiences and Products will be named at a future time.
Chapek served as chairman of Disney Parks, Experiences and Products since 2018, and prior to that was chairman of Walt Disney Parks and Resorts since 2015.
“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,” 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.”