The board of directors of Walt Disney Co. broke the news Tuesday that it has named Bob Chapek as the new Chief Executive Officer, effective immediately.
Chapek, who moves into the post after serving as chairman of Disney Parks, Experiences and Products. Tales over from longtime chairman and CEO Bob Iger, who will continue to direct the company’s creative endeavors and lead the Board as Executive Chairman through the end of his contract on December 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,” Iger said. “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.”