- Push-out Score determined
- After around 14 years in the position
- Accolades and praise for Iger
- Bob Chapek taking over
- Iger will remain as Executive Chairman at Walt Disney
- Iger spoke at length and said 192 words
(exechange) — Burbank, California, February 25, 2020 — Bob Iger, chief executive of Walt Disney, leaves his position. As announced by Walt Disney Co. in a news release and in a regulatory filing published on Tuesday, February 25, 2020, Robert A. (Bob) Iger leaves his post as chief executive officer at the mass media and entertainment conglomerate after around 14 years in the role, effective immediately.
Bob Iger’s duties as CEO will be taken over by Robert (Bob) Chapek, most recently Chairman of Disney Parks, Experiences and Products of Walt Disney Co.
A new head of Disney Parks, Experiences and Products will be named at a future time.
“This is the optimal time”
Bob Iger’s departure from the CEO post is explained as follows. Iger said: “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.”
Iger will remain as Executive Chairman at Walt Disney
“Robert A. Iger assumes the role of Executive Chairman and will direct the Company’s creative endeavors, while leading the Board and providing the full benefit of his experience, leadership and guidance to ensure a smooth and successful transition through the end of his contract on Dec. 31, 2021,” Walt Disney said.
Share price increase since October 2005
The announcement follows an increase in Walt Disney Co.’s share price of 462% since October 2005.
In the position of CEO since 2005
Bob Iger became CEO of the Company in 2005.
Iger assumed the role of Chief Executive Officer of The Walt Disney Company in October, 2005, and was elected Chairman in 2012.
From 2000-2005 he served as President and Chief Operating Officer.
Iger officially joined the Disney senior management team in 1996 as Chairman of the Disney-owned ABC Group and in 1999 was given the additional responsibility of President, Walt Disney International.
In that role, Iger expanded and coordinated Disney’s presence outside of the United States, establishing the blueprint for the Company’s international growth today.
As Chairman of the ABC Group, Iger oversaw the broadcast television network and station group, cable television properties, and radio and publishing businesses and also guided the complex merger between Capital Cities/ABC, Inc. and The Walt Disney Company.
During Iger’s years with ABC, he obtained hands-on experience in every aspect of the television business—including news, sports, and entertainment—as well as in program acquisition, rights negotiations, and business affairs. He began his career at ABC in 1974.
Iger has been named one of the “World’s Most Powerful People” by Forbes magazine (2018); one of the “Top Gun CEOs” by Forbes magazine (2009); one of Fortune magazine’s “25 Most Powerful People in Business” (2006, 2007); one of the “Best CEOs” by Institutional Investor magazine (2008, 2009, 2010, 2011); MarketWatch CEO of the Year (2006); and “CEO of the Year” by Chief Executive (2014).
Iger was inducted into the Television Academy Hall of Fame in January 2020.
He serves on the boards of the National September 11 Memorial & Museum and Bloomberg Philanthropies.
In 2012, Iger became a member of the Academy of Arts & Sciences, one of the nation’s most prestigious honorary societies, which recognizes some of the world’s most accomplished scholars, scientists, writers, artists, and civic, corporate, and philanthropic leaders.
Iger is a graduate of Ithaca College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Walt Disney and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2020 ($).