Kimberly White | Getty Images Entertainment | Getty Imageseffective immediately, a move that surprised Wall Street after the bell Wednesday.The long-tenured chief cited 20 years and 81 earnings calls and said he wants to concentrate on the creative pipeline of the company.
Iger tells me his desire to step down coalesced around Thanksgiving when he raised it with the board, which had already been targeting candidates. Bob Chapek, who most recently was chairman of Disney parks, will become the CEO. Iger will remain as executive chairman through 2021, focusing on the creative strategy of the company.
When it comes to the long transition, Iger tells me there is "no rule book on this stuff" and this is what works for the company.for exclusive insights and analysis, and live business day programming from around the world.