Shocking news this evening; Bob Iger, the longtime CEO of the Walt Disney Company officially announced his resignation today, well ahead of schedule. Iger originally announced his intention to retire when his contract with the company ran out on December 31, 2021, so him leaving early came as quite a surprise to Disney fans around the globe. Iger is set to stay onboard as Executive Chairman to oversee upcoming creative projects until his contract expires.
Iger's statement:
"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 to transition to a new CEO. 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 business and operations, while I continue to focus on the Company’s creative endeavors."
"Bob will be the seventh CEO in Disney’s nearly 100-year history, and he has proven himself exceptionally qualified to lead the Company into its next century. Throughout his career, Bob has led with integrity and conviction, always respecting Disney’s rich legacy while at the same time taking smart, innovative risks for the future. His success over the past 27 years reflects his visionary leadership and the strong business growth and stellar results he has consistently achieved in his roles at Parks, Consumer Products and the Studio. Under Bob’s leadership as CEO, our portfolio of great businesses and our amazing and talented people will continue to serve the Company and its shareholders well for years to come."
Chapek's statement:
"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."
"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."
Disney shares dropped by 5% today, and some Disney fans are concerned with the decision, as Chapek proved to be a controversial figure as head of the Parks and Resorts division of the company.
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