Walt Disney Co’s Robert Iger will step down as Chief Executive Officer (CEO), the company said on February 25. Bob Chapek, a 27-year veteran of Disney, has been appointed as the new chief executive of Disney.
“It was really that simple, with everything else falling in place, the time seemed right,” Iger said while explaining the decision to surrender the CEO chair to Chapek.
”The company has gotten larger and more complex just in the recent 12 months,” Iger said on a conference call on Tuesday, summoning its purchase of 21st Century Fox and launch of direct-to-consumer services such as Disney+ last year.
Michael Wolf, founder of Activate, a technology, and strategy consulting firm said that Chapek did a great job of growing the home entertainment business and built consumer products at Disney.
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