In a surprise announcement, Disney CEO Robert Iger has stepped down immediately as CEO of the Walt Disney Company and has named Bob Chapek as his replacement.
Bob Chapek, whom was the chairman of Disney parks, experiences and products, will assume the role of CEO, effective immediately, Disney announced.
Iger will continue as Disney chairman through the end of his contract on Dec. 31, 2021. Disney said Iger would continue to lead the company’s creative endeavors.
In Bob Chapek’s new role as CEO, he will directly oversee all of the Walt Disney Company’s business segments and corporate functions. Bob Chapek will report to the Executive Chairman, Bob Iger, and the Board of Directors.
A new head of Disney Parks, Experiences and Products will be named at a future time.
This story is developing. Check back for updates.