Robert Iger steps down as CEO of Disney

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Robert Iger, who expanded Walt Disney Co. by acquiring Marvel, Star Wars and 20th Century Fox, has stepped down as CEO, effective immediately, the company said in a statement.

Iger’s successor as CEO is Bob Chapnek, Disney announced. He has been head of the company’s theme parks unit.

Iger will remain as chairman until the end of 2021, according to the announcement.

Under Iger, Disney became a major force among entertainment companies. The company’s acquisition of Marvel has been a major driver of profit. Disney’s purchase of the Star Wars franchise has been bumpy, with more ups and downs.

Iger’s biggest bet was buying the bulk of 21st Century Fox (including the 20th Century Fox studio) for more than $71 billion. Properties such as Fox News, Fox Sports and Fox Business remain with Rupert Murdoch. Under Disney ownership, the film studio is now known as the 20th Century brand for Disney.

In December, Iger said he was a big James Bond fan while saying the company wasn’t looking to do another big acquisition. Whether or not that happens, it won’t take place under Iger’s watch.

One Response

  1. There is something in the air that makes me feel like 2020 is the year that EON will sell off Bond. 25 years of success Barbra and Michael have had – with Peirce and then Daniel – the 50th anniversary, the other films and plays EON has been branching out into. While Michael’s son Gregg has been following the path his father and aunt did working his way up the EON chain, Barbra’s daughter, Angelica, has not been officially listed as having any role in the Bond films these last 25 years. Her own film came out last year and she is credited as a writer, producer, musician & director but no Bond involvement. With the likes of Netflix, Apple, Disney and even Comcast all sutors that would love to have the Bond Franchise and this being Daniel’s last film, it just seems like a perfect time to sell out to the highest bidder. The big question is what about MGM? Where do they fit into all of this? Would they be willing to sell their half and for how much? 1 Billion, that figure seems to stick out in my head. An interesting topic to discuss – Maybe the round table of James Bond and Friends will tackle it??

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