Following the stepping down of Disney's Chief Executive Officer (CEO) Bob Iger, the entertainment giant on Tuesday named veteran Bob Chapek to take over the position.
According to a report by Variety, Chapek has taken over the position of Disney's CEO from Tuesday itself, while Iger will continue as the chairman of the company till the end of his contract - Dember 31, 2021.
Disney also said that Iger will continue leading the creative endeavours of the company.
"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," Variety magazine quoted Iger as saying.
"I have the utmost confidence in Bob and look forward to working closely with him over the next 22 months as he assumes this new role and delves deeper into Disney's multifaceted global businesses and operations, while I continue to focus on the Company's creative endeavours," Iger further said.
Chapek will be the seventh CEO of the entertainment company ever since its inception in 1923.
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