NEWS

Bob Iger to step down from Disney

Published on: 26th February 2020

The chief executive is stepping down immediately, to be replaced by Bob Chapek.

The news was revealed in a surprise announcement on Tuesday. The Walt Disney Company named Bob Chapek as his successor. Most recently chairman of Disney Parks, Experiences and Products, Bob Chapek will be the seventh CEO in Disney history. He was previously president of Disney Consumer Products between 2011 and 2015.

The company said it was an “optimal time” for Bob Iger to step down, following Disney’s acquisition of Fox’s entertainment assets and the launch of Disney Plus streaming service in November.

Bob Iger became chief executive in 2005, and has steered the company through the purchases of Star Wars, Marvel and Fox’s entertainment businesses, as well as the  successful acquisitions of Lucasfilms, Pixar and other brands that have proved lucrative moves for Disney. Although he is stepping down immediately,  he will remain executive chairman until the end of his contract, which is 31st December 2021.

Susan Arnold, independent lead director of the Disney board, said succession planning had been ongoing for several years.

RECENT ARTICLES

WWE collectibles

WWE collectibles range proves a sell-out success for PMI

KAP Toys

Exclusive: To KAP it all – KAP Toys MD Nat Southworth talks to Toy World

first half toy sales

NPD Group reveals global first half toy sales

Exclusive: Studio Retail – a value proposition

Trade Credit Reinsurance scheme backed by the government

Obituary: Bryan Stockton

Universal and AMC announce theatrical window agreement

something to look forward to

Something to look forward to…it’s the Friday Blog!

L.O.L. Surprise! comes to the Nintendo Switch

shoppers masks

More retailers to benefit from government-backed Covid-19 loans