The Walt Disney Company announced on February 25th that Bob Iger, CEO of the company for the past 15 years, will leave his position when his contract ends on December 31st, 2021. The position will be held by Bob Chapek, current Chairman of Disney Parks, Experiences and Products. Recently, the group announced its new structure in Brazil and the rest of Latin America after the merger with 21st Century Fox.
‘With the successful launch of Disney’s direct-to-consumer businesses –which is already available in Puerto Rico and soon to be launched in the rest of Latin American countries- and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO’, said Iger. ‘I have the utmost confidence in Bob (Chapek) 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’, he added.
In Chapek’s new role as CEO, he will directly oversee all of the Company’s business segments and corporate functions. Chapek will report to the Executive Chairman, Iger, and the Board of Directors. He will be appointed to the Board at a later date. A new head of Disney Parks, Experiences and Products will be named at a future time.
Chapek has also expressed himself on his new role at The Walt Disney Company: ‘I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees. Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team. I share his commitment to creative excellence, technological innovation and international expansion, and I will continue to embrace these same strategic pillars going forward. Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation and thoughtful risk-taking’, he said.
Iger replaced Michael Eisner at Disney in 2005. Over the past 15 years, he oversaw the acquisition of Marvel Studios, Pixar and Lucasfilm, in addition to the recent merger with 21st Century Fox. He has also led the launch of Disney+ in 2019. By assuming his new position, Chapek will be the seventh CEO in Disney’s nearly 100-year history.