IU alumnus Bob Chapek was named the CEO of Disney after former CEO Bob Iger stepped down Tuesday. Iger will remain the company’s executive chairman through December 2021, according to a Walt Disney Company press release.
Chapek graduated from IU with a degree in microbiology in 1981. Before becoming CEO, he was chairman of Disney Parks, Experiences and Products. Chapek has worked with Disney for more than 27 years, according to the release.
IU congratulated Chapek in a tweet Tuesday.
“I am incredibly honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees,” Chapek said. “Bob Iger has built Disney into the most admired and successful media and entertainment company, and I have been lucky to enjoy a front-row seat as a member of his leadership team.”
With the launch of Disney’s new services and the integration of Twenty-First Century Fox, now is a good time to transition to a new CEO, Iger said in the release.
“I have the utmost confidence in Bob and look forward to working closely with him over the next 22 months as he assumes this new role and delves deeper into Disney’s multifaceted global businesses and operations, while I continue to focus on the company’s creative endeavors,” he said.
While parks chairman, Chapek oversaw the opening of Disney’s first theme park and resort in mainland China, the Shanghai Disney Resort. He also oversaw the creation of the new Star Wars: Galaxy’s Edge lands at Disneyland and Walt Disney World and the addition of Marvel-inspired attractions around the world, according to the release.
From 2011 to 2015, Chapek was president of the former Disney Consumer Products segment, where he drove the technology-led transformation of the company’s consumer products, retail and publishing operations, according to the release. Prior to that, he served as President of Distribution for the Walt Disney Studios and was responsible for overseeing the studios’ overall content distribution strategy.