It seems like the Disney authorities have undertaken a major decision. Disney CEO Bob Iger is stepping down. While the chairman of Disney Parks, Experiences and Products Bob Chapek, is replacing him, and it will be effective immediately.
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Bob Chapek has been associated with Disney for a long time of about twenty-seven years. Recently, he was also appointed as the chairman of Disney Parks, Experiences, and Products. It was a rather new position created in 2018.
From now on, Bob Chapek will be taking over and will also be in charge of all day to day operations, as stated by the company. This will also allow Bob Iger to look over the company’s overall creative vision and strategy over his remaining two years with the company.
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It is reported that it was more or less the right time for Iger to step down as CEO. Now that Disney has established its own streaming service Disney + and also not to forget that Disney has also consolidated into the fold the Fox movie and television studios. This led them to acquire a whopping $71.3 billion transaction that closed in back in March 2019. With Bob Chapek’s experience of so many years, he is surely the right person as the new CEO.
A company spokesperson has addressed the issue, stating that this change will allow managing the company much more effectively. It just made sense and was quite a clear cut decision that the company made only for its betterment. Bob Iger has also issued an official statement saying the new CEO is someone who knows the company for so many years, and they all are happy to have him on board.