Bob Iger, who led Disney through its most prosperous era, has stepped down as CEO
Bob Iger, who led Disney through its most prosperous era, stepped down suddenly from his post as CEO, the company announced after the market closed Tuesday; he will be replaced by Bob Chapek, chairman of parks, experiences and products, starting immediately.
Iger, who has served as Disney’s CEO since 2005, oversaw the company’s acquisition of rivals like Pixar , Lucasfilm and 21st Century Fox . The announcement comes a year ahead of schedule, as Iger had previously said he would step down in 2021.Big Number: When Iger took over as CEO in 2005, Disney had a market cap of less than $49 billion. The company, which has successfully launched streaming services like Hulu and Disney+, is now worth nearly five times that. “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.
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