by Effective immediately, Bob Iger is stepping down as CEO of the Walt Disney Company. Bob Chapek takes his place as Chief Executive Officer.
Suprising news today as Disney announces the promotion of Bob Chapek to CEO. Bob Iger, one of Disney’s most beloved Presidents, continues on the Board of Directors until the end of 2021.
The news comes as a shock after Iger pushed back his retirement until the end of next year. Since taking the wheel of the company, Mr. Iger has brought major franchises like Marvel and Star Wars. Additionally, Iger is the one responsible for the massively popular streaming service, Disney+.
Before today, Chepak was President of Disney’s Parks, Consumer Products and Studio Businesses. His major focus was bringing more intellectual property to the resorts, thus increasing merchandise sales. In other words, expansions like Toy Story Land, Star Wars: Galaxy’s Edge, and changes like Pixar Pier are all linked to Chepak. Since his arrive in 2015, Chepak has been widely considered as Iger’s replacement.
For Disney Parks fans like us, this means some big changes are likely to come. Now that Chepak isn’t as focused on theme park merchandise, it could open the door for original attractions. Merchandise may end up favoring films and Disney+ series over the theme parks.
Personally, we’re sad to see Bob Iger go. He’s been the face and voice of the Walt Disney Company for some time now. We’re happy that he’ll remain on the Board of Directors for a while. The boom in Disney’s value since his arrival will last for decades. And we’re extremely grateful for his contributions.
