If you are familiar with the Walt Disney company in any way, chances are you have heard of its CEO Bob Iger. Iger has been a juggernaut for the billion dollar entertainment company since he took the role in 2005. From the Disney Parks, products and experiences he looked after, he slowly started to become a household name around 2009, after he helped acquire Marvel Entertainment, the first of the studio’s many franchises.
There’s no denying that Iger was an important person in industry, so it is shocking to hear that he will be stepping down, effectively immediately, according to a new report by CNBC. He will remain executive chairman of the company until the end of 2021. Disney shares fell 2.5% after the news broke.
When asked about the news, Iger stated:
“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.”
And who could that CEO be? Bob Chapek, who has been head of Disney Parks since 2015, and one of the top contenders for Iger’s job. When Iger announced that he was retiring, it was expected that after 27 years at Disney, Chapek would step up to the position.
Are you shocked to hear the news about Iger’s leave? Do you think it will be good for Disney overall and is Bob Chapek the right man to take over as CEO? Let us know on Twitter or Instagram and stay tuned to the Kernel blog for all the latest updates on this breaking story.