In 2005, Bob Iger succeeded Michael Eiser as the sixth CEO of The Walt Disney Company — yes, before today there had only been six CEOs in the history of this 100-year-old organization. Since then, we’ve seen Disney explode in influence and revenue, and they already had a lot of that already. Under Iger’s guidance, Disney bought Pixar for over $7 billion, making sure the company was still at the forefront of animated movies. They bought Lucasfilm for $4 billion in 2012, ushering in another wave of Star Wars content. In perhaps their smartest move, Disney bought Marvel Entertainment in 2009, also for $4 billion — the result was the mind-bogglingly successful Marvel Cinematic Universe.
And then, late last year, the company launched Disney+, a successful streaming service that’s already amassed nearly 30 million subscribers. This is a record that anyone could be proud of. The guy who presided over this growth could leave with their head held high.
And apparently, that’s what Bob Iger is doing, because he is now no longer the CEO of Disney, effective immediately. Replacing him is Bob Chapek, formerly the company’s chairman of Parks, Experiences and Products, and now, its godhead.
“Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team,” Chapek said in the press release. “Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation and thoughtful risk-taking.”
"Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team. Everything we have achieved thus far serves as a solid foundation for further creative storytelling, bold innovation and thoughtful risk-taking."
Iger, who announced that he was planning to retire in 2018, was equally complimentary of his replacement, telling investors on a call that “this is an exciting day for Disney, a historic day, and I am thrilled for Bob.”
"Under Bob’s leadership as CEO, our portfolio of great businesses and our amazing and talented people will continue to serve the Company and its shareholders well for years to come."
Yes, it’s kind of confusing that both men are named Bob and that they keep calling each other Bob. We assure you they’re different people.
ORLANDO, FLORIDA – AUGUST 28: Bob Chapek Chairman of Parks, Experiences, and Products for the Walt Disney Company speaks during the Star Wars: Galaxy’s Edge Dedication Ceremony at Disney’s Hollywood Studios on August 28, 2019 in Orlando, Florida. (Photo by Gerardo Mora/Getty Images)
Even though Iger is vacating the top spot, he’s not leaving Disney, at least not right this second. He’ll stay on through the end of 2021 in the role of executive chairman, helping Chapek ease into his new role. And beyond that, he might get more involved in the creative side of things. “I felt with the asset base in place, and with the strategy deployed, I felt that I should be spending as much time as possible on the creative side of the business,” Iger told investors, noting that there are “ample” projects to focus on. “Getting everything right creatively would be my number one goal.”
So this is big news. You can trace the history of Disney by looking at its CEOs, which don’t change often, so who knows what we could be in for during Chapek’s tenure? And more importantly, is there a younger guy named Bob somewhere on staff they can start grooming to take over the business 20 years from now?
To stay up to date on everything fantasy, science fiction, and WiC, follow our all-encompassing Facebook page and sign up for our exclusive newsletter.
Watch Game of Thrones for FREE with a no-risk, 7-day free trial of Amazon Channels
h/t The Verge