The sudden departure of Bob Iger is a huge surprise. FMTNews
LOS ANGELES: Bob Iger abruptly stepped aside as Walt Disney Co’s chief executive officer, handing the reins to theme-parks head Bob Chapek after years of speculation over who would succeed the longtime CEO of the world’s largest entertainment company.
In that role, he reorganised the business to cut costs and focus on franchises, including the “Frozen” toy craze.“The suddenness of it – the fact that it’s as of today and they don’t have a new parks head yet – makes it feel like it’s all very sudden.”The stock had fallen 11% this year through Tuesday’s close.
The timing of the announcement, just weeks after an upbeat earnings report, created an air of mystery around a transition that has been frequent parlour talk in Hollywood. In that post, Chapek supervised the launch of the new Avatar-themed land in Orlando, Florida and the US$5.5 billion Disney Shanghai resort, as well as two Star Wars-themed lands that opened last year in California and Florida.
Along those lines, he acquired Pixar, Marvel and Lucasfilm, building the most successful movie studio in Hollywood history.Iger postponed his retirement multiple times as he pondered life after Disney and stuck around, most recently, to supervise the Fox deal.
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