Disney鈥檚 CEO Iger resigns in surprise move
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Disney CEO Bob Iger, who steered the company鈥檚 absorption of Star Wars, Pixar, Marvel and Fox鈥檚 entertainment businesses and the launch of a Netflix challenger, is stepping down immediately, the company said in a surprise announcement Tuesday.
The Walt Disney Co named as his replacement Bob Chapek, most recently chairman of Disney鈥檚 parks, experiences and products business.
鈥淒id not see this coming 鈥 Wowza,鈥 tweeted LightShed media analyst Rich Greenfield.
Iger will remain executive chairman through the end of his contract on December 31, 2021. Iger said he will spend more time on Disney鈥檚 creative endeavors, including the ESPN sports network, the newly acquired Fox studios and the Hulu and Disney Plus streaming services. He said he could not do that while running Disney on a day-to-day basis.
鈥淚t was not accelerated for any particular reason other than I felt the need was now to make this change,鈥 Iger said.
Last year, the top five movies in US and Canada theaters were all Disney movies, including two from Marvel and one from Pixar. With the December 20 release of the latest 鈥淪tar Wars鈥 , Disney had seven movies that each sold at least US$1 billion in tickets worldwide last year.
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