Disney has immensely transformed over the last 20 years. In the late twentieth century, the company was best known for children’s programming, theme parks, and cruise ships as well as owning the ABC television broadcast network and ESPN family of cable networks. But in the twenty-first century, it has been working hard at becoming the dominant force in the movie industry, buying up the Pixar animation studio from Apple founder Steve Jobs, Marvel Entertainment with the massive Marvel Cinematic Universe, LucasFilm and its family of Star Wars properties from George Lucas, and, most recently, the 21st Century Fox family of entertainment properties.
Just as Michael Eisner handled Disney transition into the 1980s and 90s media world with its revitalized animation studio, former ABC producer Bob Iger has been the CEO of “The Mouse” through its transition into a company for the new century. Iger has been the driving force behind the acquisitions of Pixar, Marvel, LucasFilm, and Fox, as well as having continued Disney’s tradition of being a pioneer in new media. Walt Disney himself brought the company into the television industry; Iger has led the company into the online era.
But yesterday Iger announced abruptly that he was stepping down as CEO of Disney while remaining the company’s executive chairman (whatever that means) and director of creative endeavors. Bob Chapek, who has been the chair of Disney’s parks and experience programs, is the new CEO. While Disney watchers expected Iger to retire at some point in the next couple of years, no one saw this sudden retirement coming. Iger said in an investor call shortly after the announcement that his step-down had been in the planning stage for some time and that the Disney board of directors knew about his plans.