Bob Chapek named New Walt Disney CEO

The Walt Disney Company has named Bob Chapek its seventh chief executive officer, effective immediately, Wdwnt.com reports.

Current chief, Bob Iger will assume the role of Executive Chairman and direct the company’s creative endeavors, while leading the Board and providing the full benefit of his experience, leadership, and guidance to ensure a smooth and successful transition through the end of his contract on December 31, 2021.

Chapek has been chairman of the Parks, Experience and Products unit up until this point. A new head of Disney Parks, Experiences and Products will be named at a future time.

“With the successful launch of Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO,” Iger said.

The Walt Disney Company (NYSE: DIS) Board of Directors announced today that Bob Chapek has been named Chief Executive Officer, The Walt Disney Company, effective immediately. Mr. Chapek most recently served as Chairman of Disney Parks, Experiences and Products.