Bob Iger, CEO Who Led Disney for 15 Years, Resigns

Eiger CEO: "Now is the right time to pass the position to a new CEO"

Will retain the chairman position until the end of next year

Successor is Bob Chapek

▲Bob Iger, Disney CEO [Image source=EPA Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Bob Eiger (69), the CEO who has led Walt Disney for 15 years, is stepping down.

According to the New York Times (NYT) on the 25th (local time), The Walt Disney Company announced that Eiger will resign from the CEO position. However, he will retain the chairman position of the board until the end of next year.

Eiger explained the reason for his resignation, saying, "With the successful launch of Disney+ and the smooth integration of 21st Century Fox, I judged that now is the right time to hand over the position to a new CEO."

He added, "There is no other special reason for my resignation," and explained, "I just felt it was time for a change."

Eiger joined ABC Broadcasting in 1974 and gained experience by participating in the development of several famous programs. After ABC was acquired by Disney in 1996, he leveraged his experience at ABC to demonstrate management skills in the entertainment division. Recognizing these abilities, Eiger was appointed Disney CEO in October 2005 and contributed to Disney's growth through various successful acquisitions.

Notably, in 2006, he acquired Pixar, famous for animations like Toy Story, for $7.4 billion (approximately 9.07 trillion KRW), followed by Marvel in 2009, and Lucasfilm, known for Star Wars, in 2012.

Last year, he completed the acquisition of the entertainment division of 21st Century Fox for $71.3 billion (86.786 trillion KRW).

Especially, Disney+ streaming service, launched in November last year, secured about 29 million paid subscribers in less than three months, emerging as a strong competitor to Netflix.

Meanwhile, Bob Chapek (60) will become Disney's 7th CEO as Eiger's successor.

Chapek joined Disney in 1993 and gained experience in various fields including Disneyland and Resorts, Consumer Products, and Studios. Recently, he was responsible for managing Disneyland.