Effective Immediately, Bob Iger Steps Down As Disney CEO

Disney shocked everyone with their announcement Tuesday of their lovable Disney CEO Bob Iger stepping down from his role and becoming executive chairman through 2021, effective immediately. Bob Iger will step down as Disney CEO and assume the role of Bob Chapek, whom has served the role of executive chairman of Disney Parks, Experiences and Products.

Photo Courtesy of Disney

Bob Chapek, who most recently served as chairman of Disney parks, experiences and products, will assume the role of CEO, effective immediately, Disney announced. Chapek will continue to report to Iger and be appointed to the board of directors at a later date.

People took to twitter with some strong opinions. Many people were particularly shocked at the suddenness of the announcement, though others were quick to point out that Iger has been talking about his retirement for quite a few years now. Others were thrilled of his replacement with Bob Chapek.

Photo Courtesy of Disney

Shares of Disney fell about 2.5% after hours.

What do you think about Bob Iger’s sudden departure from the position of Chief Executive Officer? Will you miss him as the Disney CEO, or  do you think is it time for a change? Tell us in the comments.