Bob Iger steps down as Disney CEO, replaced by Disney Parks boss Bob Chapek

The Verge

Disney announced that Chapek, chairman of Disney Parks, Experiences and Products, will replace Iger, effective immediately. Iger, who was elevated to CEO in 2005, will stay on as executive chairman through the end of 2021. “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 press release. “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.” ALSO: Bob Iger says he'll continue to oversee Disney's creative endeavors as executive chairman.