After almost 15 years, Bob Iger will be retiring as the CEO of The Walt Disney Company. Officially, his contract did not end until 2021, but the executive has decided to move forward and leave the position in advance. To occupy this place, The Board of Directors appointed Bob Chapek as his successor.
The Board of Directors appointed Bob Chapek, a veteran executive with 27 years of experience at Disney, to assume the highest position in the group immediately.
Bob Iger, who was CEO for more than 15 years, will chair the Board and “will lead the company’s creative efforts,” according to a statement.
The change comes after Iger led the strategy for Disney to acquire most of the television and film assets of Rupert Murdoch’s 21st Century Fox, thus consolidating its dominance in the industry.
He also spearheaded efforts to launch the new online television service -‘streaming’- Disney + to face rivals such as Netflix and Amazon Prime.
Iger said that with the successful launch of Disney direct consumer business and the integration of 21st Century Fox already underway, he thought that was the optimal time for the transition to a new CEO.
Disney, which is a leader in Hollywood and also has amusement parks and television operations, has strongly opted for its passage to streaming.
The group intends to increase the volume of original content, taking advantage of its gigantic portfolio of titles. Which include franchises such as “Star Wars” and those related to Marvel superheroes.
Chapek assumes the highest position after leading the Disney Parks, Experiences, and Products division.
Chapek said that Bob Iger had turned Disney into the most admired and successful media and entertainment company. And he had been fortunate to see him from the front row as a member of his team. He shared his commitment to creative excellence, international expansion, and technological innovation. And he would continue to embrace those same strategic pillars in the future.
For its part, Iger said the new CEO “has proven to be exceptionally qualified” for the position.
In its latest quarterly report, Disney announced that Disney + had started on the track, adding more than 28 million users.
Also, he reported the good results of his latest “Star Wars” and “Frozen II” movies.
Its global box office in 2019 exceeded $11 billion. It also breaks a record of the film industry also set by Disney four years ago.