Disney’s Bob Iger out as CEO
Walt Disney CEO Bob Iger is reportedly stepping down from his role immediately and has named Bob Chapek as the new CEO.
Disney CEO Bob Iger began his ride into the sunset Tuesday after nearly 15 years at the helm of the entertainment giant, but he's leaving investors with magical memories, from the acquisition of the lucrative "Star Wars" franchise to a four-fold gain in the company's market value.
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Iger, who was succeeded by parks, experiences and products chief Bob Chapek effective immediately, will hold the title of executive chairman through 2021.
DISNEY NAMES BOB CHAPEK CEO; IGER TO CHAIR BOARD THROUGH 2021
The 69-year-old's legacy includes major purchases from Pixar to Marvel, Lucasfilm, Fox's entertainment properties and Hulu. The transactions, which cost over $114 billion, transformed Disney into a media juggernaut:
- Pixar: $7.4 billion in January 2006
- Marvel: $4.24 billion in August 2009
- Lucasfilm: $4 billion in October 2012
- Fox entertainment assets: $71.3 billion in March 2019
- Hulu: $27.5 billion in May 2019
During Iger's tenure as CEO, which started in March 2005, Disney shares surged by 371 percent, more than double the S&P 500’s 161 percent gain in the same period. Over that time, Disney’s market capitalization climbed by $174.95 billion to $231.44 billion.