Robert Iger out as CEO of Disney, *effective immediately* - Bob Chapek replaces him

[Dennis Donovan]

https://www.cnn.com/2020/02/25/media/bob-iger-bob-chapek-disney-ceo/index.html

Bob Iger steps down as Disney CEO. Bob Chapek replaces him

By Frank Pallotta, CNN Business

New York (CNN Business) Bob Iger has stepped down as CEO of the Walt Disney Company (DIS), effective immediately.

Bob Chapek is the new CEO, the board of directors announced on Tuesday. He most recently served as chairman of Disney Parks, Experiences and Products.

Iger has assumed the role of executive chairman and will direct the company's creative endeavors, the company said.

This is a developing story. It will be updated

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Link to tweet

[Apollo Zeus]

1. Other sources say nothing about "immediately"

Iger steps to Executive Chairman and Bob Chapek moves up as expected. Chapek was one of three contenders and ran the biggest divisions so a logical choice.

[Dennis Donovan]

8. CNBC also reporting effective immediately:

Link to tweet

[marble falls]

2. Office politics in Mouse Town.

[magicarpet]

6. Did he dis Mickey ?

[marble falls]

11. He had the fabeled topless Minnie Mouse pictures ...

from when Mickey was all coked up in the 80's and he sold them to Esquire. Somehow Iver got them and used them to leverage all the way up from intern production assistant to CEO.

[Mike 03]

3. Could it possibly have anything to do with this lawsuit from August?

Link to tweet

Link to tweet

[C_U_L8R]

4. Seems sudden. Disney never does sudden.

And bound to be some pissed off digital execs who thought they'd get the gig instead of the parks guy. Curious what the scoop is.

[Mike 03]

5. Iger resigned from Apple's board back in September

shortly after an actress added his name to a lawsuit against Harvey Weinstein. (Not saying the two are related, but some others have suggested they are.)

Link to tweet

[exboyfil]

9. He had to resign because of conflict of interest

Apple was becoming an entertainment content provider and adding their own streaming service. They were also looking to acquire a studio. It is amazing that he was on the board as long as he was.

[exboyfil]

7. The 20th Century Fox movie slate

that came over in the acquisition has been a blood bath. I wonder if that had anything to do with it?

Also Star Wars Lucasfilm has been under performing. The SW brand seems adrift.

[Apollo Zeus]

12. Ford v Ferrari did okay

Terminator was a big loser but the others are even or just under profitable and could break even soon -- Racing in the Rain, Ad Astra

Don't think Iger gets pushed aside for the Fox movies. The timing agree more with the Weinstein trial fallout.

[MFGsunny]

10. Interesting timing, and for sure unexpected ....

.... other than Iger WAS expected to step down at the end of his contract in 2021.

Iger has an excellent reputation on many leadership and management levels, including his time at Disney. He was TIME's 2019 Businessperson of the Year. His 2019 book "The Ride of a Lifetime" is a very good read, imho.

Here's hoping nothing sad or weird is going on.

For some more background info on Iger

https://www.cnbc.com/2019/10/23/disney-ceo-bob-igers-principles-for-great-leadership.html