The entertainment industry was met with shocking news today when word came out that Bob Iger has decided to step down from his place as the CEO of the Walt Disney Company. Resigning so that he can assume the role of executive chairman over at Disney, Iger has decided to pass on his post as the Mickey Mouse House's CEO to Bob Chapek, the current chairman of Disney parks, experiences, and products.
The news came as quite a surprise. No one really expected Iger to resign from his post so soon. Speaking in an interview with CNBC correspondent Julia Boorstin after Disney made the announcement, Iger decided to explain the reason behind his resignation.
Apparently, Iger wanted to ensure a smooth transition for Walt Disney. The former Disney CEO has been planning his success for a time now – last year Iger told shareholders that "2021 will be the time for me to finally step down" during Disney's investor day.
Sure, Iger might have made the announcement 22 months before he was expected to retire, but the CEO wanted to step down now because he wanted to focus on the creative side of the company.
"With everything else falling into place, the time seemed right," Iger told the publication.
While he's resigning from his role as the CEO of the House of Mouse, Iger is to remain as Disney's executive chairman through the end of 2021. Meanwhile, Iger promises that he's going to help Chapek transition into the role of Disney CEO while he serves as the company's executive chairman.
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