Bob Chapek has been named CEO of the Walt Disney Company effectively immediately, the company’s board of directors announced Tuesday .
Former CEO Bob Iger will assume the role of executive chairman and direct the company’s creative endeavors through the end of his contract at the end of 2021.
“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,” Iger said in a news release. “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 CEO in Disney’s nearly 100-year history, "and “has proven himself exceptionally qualified to lead the Company into its next century,” Iger said in the news release.
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