Robert Iger to step down as Walt Disney chief executive officer today

Walt Disney Co on Tuesday said Robert Iger will step down as chief executive officer, to be replaced by Bob Chapek, effective immediately.

Chapek, who will be the seventh CEO in the company's nearly 100-year history, has most recently served as the chairman of Disney Parks, Experiences and Products.
 

Iger will continue in the role of chairman through the end of his contract on Dec. 31, 2021, Disney said.
 

Iger, who has been CEO since 2005, has led the company through the development and launch of its Disney+ streaming service, which launched in November to demand that exceeded company expectations.