News

Economy & Business

Disney CEO Bob Iger Steps Down

Walt Disney CEO Bob Iger attends the European premiere of The Lion King in London, July 14, 2019. (Henry Nicholls/Reuters)

Bob Iger on Tuesday stepped down as CEO of the Walt Disney Company, effectively immediately.

“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 wrote in a statement.

Iger, who has served as CEO since 2005 and oversaw the company’s acquisitions of Star Wars, Marvel, and 21st Century Fox, as well as the launch of the Disney+ streaming service, said Tuesday that he wishes to spend more time on Disney’s “creative side.”

“I could not do that if I had to run the company on a day-to-day basis,” Iger said on a phone call with reporters. “It was not accelerated for any particular reason other than I felt the need was now to make this change.”

Bob Chapek, the former chairman of Disney Parks, Experiences and Products, will replace Iger as chief executive, the board of directors announced.

“I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world,” Chapek said in a statement. “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.”

Iger will now step into the role of executive chairman of the mammoth entertainment company through 2021, Disney said. The former CEO said that he has the “utmost confidence” in Chapek and will be “working closely with him over the next 22 months as he assumes this new role.”

Most Popular

The Trail Leading Back to the Wuhan Labs

It is understandable that many would be wary of the notion that the origin of the coronavirus could be discovered by some documentary filmmaker who used to live in China. Matthew Tye, who creates YouTube videos, contends he has identified the source of the coronavirus — and a great deal of the information that ... Read More

The Trail Leading Back to the Wuhan Labs

It is understandable that many would be wary of the notion that the origin of the coronavirus could be discovered by some documentary filmmaker who used to live in China. Matthew Tye, who creates YouTube videos, contends he has identified the source of the coronavirus — and a great deal of the information that ... Read More
World

All Signs Point to China

Just one big story today: collecting and sorting through what we know about the coronavirus's origins, and what makes sense and what doesn’t in the theory that it originated from someone eating bats or pangolins from the Huanan Seafood Market. What We Know and What We Don’t Know about the Source of ... Read More
World

All Signs Point to China

Just one big story today: collecting and sorting through what we know about the coronavirus's origins, and what makes sense and what doesn’t in the theory that it originated from someone eating bats or pangolins from the Huanan Seafood Market. What We Know and What We Don’t Know about the Source of ... Read More
Media

The Media Owe Senator Tom Cotton an Apology

One of the biggest issues people have with the mainstream press these days is that some of its members are so insulated that they end up buying into and promoting false narratives without actually checking these narratives' veracity. That seems to be exactly what happened in mid February, when major outlets ... Read More
Media

The Media Owe Senator Tom Cotton an Apology

One of the biggest issues people have with the mainstream press these days is that some of its members are so insulated that they end up buying into and promoting false narratives without actually checking these narratives' veracity. That seems to be exactly what happened in mid February, when major outlets ... Read More
Film & TV

America’s Favorite Movie

For more than a decade, readers volunteering their ratings on the movie site IMDb have declared The Shawshank Redemption (1994) their favorite film of all time. (Number two is The Godfather). Unlike the unholy tablets that are the box office charts, which are strongly linked to marketing budgets and show a ... Read More
Film & TV

America’s Favorite Movie

For more than a decade, readers volunteering their ratings on the movie site IMDb have declared The Shawshank Redemption (1994) their favorite film of all time. (Number two is The Godfather). Unlike the unholy tablets that are the box office charts, which are strongly linked to marketing budgets and show a ... Read More