Disney CEO Bob Iger Steps Down Effective Immediately

Disney’s longstanding CEO Bob Iger is stepping down immediately.

Bob Iger is the Disney CEO that drove the company’s performance higher than ever, ushering in the company’s biggest and best franchises, steering the firm into successful and highly lucrative M&A deals, and pushing its platform profits higher each year.

Exiting CEO Bob Iger is stepping down immediately, and Disney’s new CEO is Bob Chapek, an executive that has been with the company for almost three decades, and more recently held the position of chairman of Disney Parks, Experiences and Products. Moving forward, Iger will take up the mantle of executive chairman until 2021.

Before becoming Disney’s 7th ever CEO in its over 100-year history, Chapek has also been Chairman of Walt Disney Parks and Resorts. As Chapek has now been seated as CEO, Disney Twitter has quickly caught on that there may be some cutbacks or rough times ahead for the Parks’ budgets, as this has been his main scope over the past decade.

Some of Iger’s biggest achievements have been the acquisition of Marvel Entertainment and the subsequent blockbuster movies that came of it. He also helped Disney partner with Apple, and eventually purchase Pixar animation studios, which Apple Founder Steve Jobs founded in 1986. Disney’s, and Iger’s, latest achievements include the launch of Disney+, a streaming service that has already gained over 30 million subscribers thanks to popular tiles such as ‘The Mandalorian’, which was very successful.

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