Robert Allen Iger

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Bob Iger to step down as Disney CEO, effective immediately

Bob Iger will step down as Disney CEO and assume the role of executive chairman, Disney announced Tuesday.

Bob Chapek, who most recently served as chairman of Disney parks, experiences and products, will assume the role of CEO, effective immediately, Disney announced. Chapek will continue to report to Iger and be appointed to the board of directors at a later date.

Shares of Disney fell about 2.5% after hours.

In an interview with CNBC’s Julia Boorstin after Disney’s announcement, Iger said the CEO reporting structure is a way to ensure a smooth transition.

Source: CNBC

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