Iger retires as chief executive of Disney - and this time it's final
Bob Iger is to step down as chief executive of Walt Disney, the US movie and media giant that owns ESPN, the international sports broadcaster, to take on the role of executive chairman, the company has announced.
Bob Chapek, who most recently served as chairman of Disney parks, experiences and products, will assume the role of chief executive, effective immediately.
Chapek will continue to report to Iger, and be appointed to the board of directors at a later date.
Iger will be executive chairman until at least 2021, when his chief executive contract was due to end.
He had been Disney chief executive since 2005 and has delayed his retirement on numerous occasions.
In recent years he has overseen the launch of ESPN+, the sports streaming service, and the $71-billion deal to take over the film and television assets of 21st Century Fox.
Iger said in a statement: “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. 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.”
Chapek will be the seventh chief executive in the company's history. Iger had replaced Michael Eisner.