Richard Lawler, @Rjcc. (Reuters) - Walt Disney Co's DIS.N Robert Iger will step down as chief executive officer, handing the reins to Disney Parks head Bob Chapek, the company said on Tuesday, ending years of speculation on who will take over Hollywood's most powerful studio. Disney CEO Bob Iger, who steered the company through successful purchases of Star Wars, Marvel and Fox's entertainment businesses and the launch of a Netflix challenger, is stepping down immediately, the company said in a surprise announcement on Tuesday. … A search began for possible survivors after a scanner detected a pulse one month after the mega-blast at the adjacent port, A full moon next to the Virgen del Panecillo statue in Quito, Ecuador, A Palestinian woman reacts as Israeli forces demolish her animal shed near Hebron in the Israeli-occupied West Bank, Students protest against presidential elections results in Minsk, The pack rides during the 3rd stage of the Tour de France between Nice and Sisteron, Law enforcement officers block a street during a rally of opposition supporters protesting against presidential election results in Minsk, Belarus, A woman holding a placard reading "Stop Censorship - Yes to the Freedom of Expression" shouts in a megaphone during a protest against the mandatory wearing of face masks in Paris. The question is if he can be replaced, arguably one of the most important of his tenure, Disney+ has already scored 28.6 million subscribers since launch. During his tenure, Iger oversaw the acquisition of Marvel Studios, Pixar, and Lucasfilm, all of which produced films that shattered box office records. The top earner was Discovery's David Zaslav who earned $129.5m. Disney CEO Bob Iger steps down, Bob Chapek to take over, Disneyland fights to reopen despite pushback from governor, See the Marvel 'WandaVision' series trailer, Baby Yoda returns in 'The Mandalorian' season 2 trailer, Disney hit by backlash after thanking Xinjiang authorities in 'Mulan' credits, Disney heiress: People's lives should come before business, See the TikTok video that got Disney's attention, Disney World reopens after months-long closure, Disney CEO wants you back in the parks, mask and all, Disney CEO Bob Iger maps out his strategy for streaming, Watch Kristen Bell and Jimmy Fallon's epic Disney duet, Disney is investing big in streaming. Disney announced Tuesday that CEO Bob Iger will step down from the role and become executive chairman through 2021, effective immediately. Last year, at Disney's investor conference, he said "2021 will be the time for me to finally step down.". You can find our Community Guidelines in full here. Disney Parks chairman Bob Chapek is the new CEO. After 15 years as Disney CEO, Bob Iger has stepped down. He was previously head of parks and resorts and before that president of consumer products. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Disney CEO Bob Iger is stepping down immediately, the company said in a surprise announcement Tuesday. Reporting by Helen Coster and Kenneth Li in New York; Editing by Rosalba O’Brien. Daily protests calling for the authoritarian president's resignation are now in their second month, Members of 'Omnium Cultural' celebrate the 20th 'Festa per la llibertat' ('Fiesta for the freedom') to mark the Day of Catalonia in Barcelona. While the news, which was announced in a press release, came as a surprise, Iger had been planning his succession for a while. All times are ET. Masks, which were already compulsory on public transport, in enclosed public spaces, and outdoors in Paris in certain high-congestion areas around tourist sites, were made mandatory outdoors citywide on August 28 to fight the rising coronavirus infections, Japanese Prime Minister Shinzo Abe bows to the national flag at the start of a press conference at the prime minister official residence in Tokyo. He will assume the post of executive chairman and direct the company’s “creative endeavors” until his contract ends on Dec. 31, 2021, Disney said. Iger, one of America's most respected CEOs, succeeded Michael Eisner in 2005. As chairman of Disney theme parks division, Chapek oversaw Disney’s largest business segment, including the opening of Disney’s first theme park and resort in mainland China and the creation of the new Star Wars: Galaxy’s Edge lands at Disneyland and Walt Disney World. All rights reserved. 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. In an interview with CNBC, Iger said his succession plans were "actually a few years" in the making and that Chapek was identified "awhile ago as a likely candidate" to succeed him. Want to bookmark your favourite articles and stories to read or reference later? Please check back for updates. Last year, at Disney's investor conference, he said "2021 will be the time for me to finally step down." Election Day could turn into "Election Week" with rise in mail ballots. Iger will stay on at Disney through the end of this contract on December 31, 2021. Are you sure you want to mark this comment as inappropriate? Dozens of fires are burning out of control throughout Northern California as fire resources are spread thin, Students use their mobile phones as flashlights at an anti-government rally at Mahidol University in Nakhon Pathom. Iger steered Disney through successful acquisitions of Lucasfilms, Marvel, Pixar and other brands that became big moneymakers for Disney. Following the announcement, shares of Disney fell about 2.5%. "I will continue to conduct the company's creative endeavours while also leading the board," Iger said on a conference call with reporters and analysts. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. What happens if the president doesn't accept the election results? On a phone call with investors following the announcement, Iger said the change will allow him to focus on the creative side of Disney, something he couldn't do as CEO. Susan Arnold, the independent lead director of the Disney board said succession planning had been ongoing for several years. Is the rise in U.S. COVID cases because of more testing? The Walt Disney Co named as his replacement Bob Chapek, most recently chairman of Disney's parks, experiences and products business. Disney shares down 2% after 'surprise' CEO change. That service gained nearly 29 million paid subscribers in less than three months. Tens of thousands of pro-democracy protesters massed close to Thailand's royal palace, in a huge rally calling for PM Prayut Chan-O-Cha to step down and demanding reforms to the monarchy, Supporters of Iraqi Shi'ite cleric Moqtada al-Sadr maintain social distancing as they attend Friday prayers after the coronavirus disease restrictions were eased, in Kufa mosque, near Najaf, Iraq, A protester climbs on The Triumph of the Republic at 'the Place de la Nation' as thousands of protesters take part in a demonstration during a national day strike called by labor unions asking for better salary and against jobs cut in Paris, France, A fire raging near the Lazzaretto of Ancona in Italy. Iger said he wanted to focus on the creative side of the business after getting those assets and strategies in place. This story is a developing story. Chapek “did a great job of growing the home entertainment business and built consumer products at Disney,” said Michael Wolf, founder of Activate, a technology and strategy consulting firm. His biggest bet was the purchase of 21st Century Fox, a deal that was instrumental in launching Disney+. Pope Francis prays with priests at the end of a limited public audience at the San Damaso courtyard in The Vatican, A girl's silhouette is seen from behind a fabric in a tent along a beach by Beit Lahia in the northern Gaza Strip, A Chinese woman takes a photo of herself in front of a flower display dedicated to frontline health care workers during the COVID-19 pandemic in Beijing, China. Iger's move, announced Tuesday, is effective immediately. Start your Independent Premium subscription today. 1 … The fast moving Glass fire has burned over 1,000 acres and has destroyed homes, A villager along with a child offers prayers next to a carcass of a wild elephant that officials say was electrocuted in Rani Reserve Forest on the outskirts of Guwahati, India, The casket of late Supreme Court Justice Ruth Bader Ginsburg is seen in Statuary Hall in the US Capitol to lie in state in Washington, DC, An anti-government protester holds up an image of a pro-democracy commemorative plaque at a rally outside Thailand's parliament in Bangkok, as activists gathered to demand a new constitution, A whale stranded on a beach in Macquarie Harbour on the rugged west coast of Tasmania, as hundreds of pilot whales have died in a mass stranding in southern Australia despite efforts to save them, with rescuers racing to free a few dozen survivors, State civil employee candidates wearing face masks and shields take a test in Surabaya, A man sweeps at the Taj Mahal monument on the day of its reopening after being closed for more than six months due to the coronavirus pandemic, A deer looks for food in a burnt area, caused by the Bobcat fire, in Pearblossom, California, Anti-government protesters hold their mobile phones aloft as they take part in a pro-democracy rally in Bangkok.

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