The man who may be the second most-important person in the history of Disney, behind only Walt himself, is stepping down.
Bob Iger has stepped down as CEO of the Walt Disney Company (DIS), effective immediately.
Bob Chapek is the new CEO, the board of directors announced on Tuesday. He most recently served as chairman of Disney Parks, Experiences and Products.
Iger has assumed the role of executive chairman and will direct the company's creative endeavors, the company said. Iger will stay on at Disney through the end of this contract on December 31, 2021.