The Walt Disney Company has just announced that Bob Iger is stepping down as CEO of Disney and will assume the role of Executive Chairman.
On this post
Bob Chapek, who was president of Disney Parks, Experiences & Products so far, he has been named the new CEO of the TWDC Board of Directors.
According to Disney, Bob Iger will lead the "Board of Directors", and will provide all the benefits of his experience and work to ensure a smooth and successful transition for the next two years - until the end of his contract on December 31, 2021 .
This is nothing short of impressive news.
In this post, we will share the Walt Disney Company press release about new CEO Bob Chapek and the transition between current CEO Bob Iger and Chapek.
Finally, we will offer commentary on this “bombshell”, including how it might affect the Walt Disney World and the Disneyland ?
In Chapek's new role as CEO, he will directly oversee all of the Company's business segments and corporate functions.
Bob Chapek will report to Executive Chairman Bob Iger and the Board of Directors. He will be named to the Walt Disney Company Board of Directors at a later date.
A new director of Disney Parks, Experiences and Products will also be named in the future.
Chapek has served as President of Disney Parks, Experiences and Products since the segment's inception.
Who is Bob Chapek?
Before that, the Mr. Chapek was President of Walt Disney Parks and Resorts.
In offering statements about the change, Bob Iger said: ?With the successful launch of Disney's direct-to-consumer business and the integration of Twenty-First Century Fox underway, I believe this is an ideal time to transition to a new CEO.
I have complete confidence in Bob and look forward to working closely with him over the next 22 months as he takes on this new role and delve deeper into Disney's multifaceted global business and operations, while remaining focused on the company's creative efforts. ?
Iger added: ?Bob will be the seventh CEO in Disney's nearly 100-year history and has proven to be uniquely qualified to lead the Company into the next century.
Throughout his career, Bob has led with integrity and conviction, always respecting Disney's rich legacy while taking smart, innovative risks for the future.
His success over the last 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 Studio.
Under Bob's leadership as CEO, our portfolio of great companies and our incredible and talented people will continue to serve the Company and its shareholders for years to come.?
“I am incredibly honored 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 staff and employees”, said Chapek.
?Bob Iger has built Disney into the most admired and successful media and entertainment company, and I was lucky to have a front row seat as a member of his leadership team.
I share your commitment to creative excellence, technological innovation and international expansion, and will continue to embrace these same strategic pillars going forward.
Everything we've achieved so far serves as a solid foundation for more creative stories, bold innovation and thoughtful risk-taking. ?
Susan Arnold, lead independent director of the Disney Board, said: ?The board has been actively involved in succession planning over the past few years, and after consideration of internal and external candidates, we have unanimously elected Bob Chapek as Walt's next CEO. Disney Company.
Mr. Chapek has demonstrated exceptional leadership and a proven ability to deliver results across a wide range of businesses, and his tremendous understanding of the breadth and depth of the company and appreciation for the special connection between Disney and its consumers make him the perfect choice as the next CEO.”
"Sir. Chapek will also benefit from the guidance of one of the world's most esteemed and successful business leaders, Bob Iger ?continued Arnold.
?In the last more than 15 years as CEO, Mr. Iger transformed the Walt Disney Company, building on the company's history of great stories with the acquisitions of Pixar, Marvel, Lucasfilm and Twenty-First Century Fox and increasing the company's market capitalization fivefold.
Disney has achieved unparalleled financial and creative heights thanks to Iger's strong leadership and clear strategic vision. We believe that Mr. Chapek with this strategy will ensure that the Company continues to create significant value for our shareholders in the coming years. ?
As president of Disney Parks, Experiences and Products, Chapek oversaw the Company's largest business segment, with operations worldwide and more than 170,000 employees worldwide.
The segment includes Disney's iconic travel and leisure business spanning six resort destinations across the United States, Europe and Asia, a top-rated cruise line, a popular vacation ownership program and an award-winning family adventure business. .
Disney's global consumer products operations include the world's leading licensing businesses in toys, apparel, home goods, games and digital applications, the world's largest children's print publisher, Disney stores worldwide and Disney's e-commerce platform.
During his tenure in the Parks business, Chapek oversaw the opening of mainland China's first Disney theme park and resort, Shanghai Disney Resort.
The addition of numerous guest offerings across Disney's six resort destinations in the US, Europe and Asia, including the creation of the new Start Wars: Galaxy's Edge at Disneyland and Walt Disney World.
Added Marvel-inspired attractions around the world.
In addition to the expansion of Disney Cruise Line with the announced construction of three new ships.
From 2011 to 2015, Chapek was President of Disney's former Consumer Products segment, where he led the technology-led transformation of the company's Consumer Products, Retail and Publishing operations.
Prior to that, he served as President of Distribution for Walt Disney Studios and was responsible for overseeing the studios' overall content distribution strategy across multiple platforms, including theatrical release, home entertainment, pay TV, digital entertainment and new media.
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