Disney names Bob Chapek as its new CEO

Disney has announced Bob Chapek as its new Chief Executive Officer (CEO). He will succeed Bob Iger effective immediately.

Chapek will be overseeing all of Disney’s business segments and corporate functions. He will be reporting to Iger, who continue on as Executive Chairman for the next 22 months, and the Board of Directors. He will be hired to the Board at a later date.

Chapek said, “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,” he added.

Iger stated, “With the successful launch of Disney’s direct-to-consumer businesses and the integration of 21st Century Fox well underway, I believe this is the optimal time to transition to a new chief operating officer.”

“I have the utmost confidence in Chapek 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,” he further said.