Disney announced today that Bob Chapek will assume the role of CEO of The Walt Disney Company, effective immediately.
The former CEO, Bob Iger, will step down and take the role of executive chairman and continue to direct the company’s creative endeavors. Iger will stay in this role through the end of his contract on Dec. 31, 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,” said Iger in a statement. “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 multifaceted global businesses and operations, while I continue to focus on the company’s creative endeavors.”
Chapek was unanimously elected as the next CEO by the Disney Board of Directors. In his new role, he will directly oversee all of Disney’s business segments and corporate functions, and will report to Iger as Executive Chairman and the Board of Directors. Chapek will be appointed to the Board at a later date, and a new head of Disney Parks, Experiences and Products will be named at a future time.
“I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees,” said Chapek. “Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team. I share his commitment to creative excellence, technological innovation, and international expansion, and I will continue to embrace these same strategic pillars going forward. Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation, and thoughtful risk-taking.”
Before this, Chapek served as Chairman of Disney Parks, Experiences and Products since the segment of the company was created in 2018. Prior to that, he served as Chairman of Walt Disney Parks and Resorts since 2015.
Check out our interview with Chapek below inside Star Wars: Galaxy’s Edge at Walt Disney World: