Walt Disney Co. names Bob Chapek new CEO. Bob Iger to stay on as company chairman

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Disney CEO Bob Iger to step down immediately, saying it's 'optimal time to transition'

Iger oversaw the expansion of the Mouse House, which added 21st Century Fox's movie and TV studios and other assets including Fox's 30% stake in Hulu. The $71.3-billion transaction closed in March 2019.

Chapek is the seventh CEO in company's nearly 100-year history, Iger said, saying that Chapek"has proven himself exceptionally qualified to lead the Company into its next century."Follow USA TODAY reporter Kelly Tyko on Twitter:

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If he is leaving then it is time to sell your stock. Marvel and Star Wars burnout it happening.

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