• N. Bantu Key

Disney Ceo Bob Iger is stepping down

Disneys Ceo Bob Iger is stepping down from his role as CEO to another Bob and Disney employee: Bob Chapek. The transition is effective immediately while Iger remains as executive chairman until December 31, 2021.

Chapek is Disney's seventh CEO over its nearly 100-year history.

"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 in a press release. "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."

the acquisitions of Marvel, Pixar, Lucasfilm, and Fox. Disney+ were spearheaded by Iger. The streaming service was also a big success because of him, reaching up to 28.6 million subscribers as of early February 2020. The company also launched ESPN+, the streaming service dedicated to all things sports, as part of a bundle with Disney+ and Hulu.