In this Dec. 16, 2019, file photo, Disney CEO Bob Iger arrives at the world premiere of "Star Wars: The Rise of Skywalker", in Los Angeles. (Photo: AP)
LOS ANGELES, Feb. 25 (Xinhua) -- The Walt Disney Company announced Tuesday that Bob Chapek has been named Chief Executive Officer as Bob Iger's successor, effective immediately.
Chapek, a 27-year Disney veteran, served as Chairman of Disney Parks, Experiences and Products since the segment's creation in 2018, overseeing the Company's largest business segment, with operations around the globe and more than 170,000 employees worldwide. Prior to that, he was Chairman of Walt Disney Parks and Resorts since 2015.
During his tenure at the Parks segment, Chapek oversaw the opening of Disney's first theme park and resort on the Chinese mainland -- Shanghai Disney Resort; the addition of numerous guest offerings across Disney's six resort destinations in the United States, Europe and Asia, including 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 globe; and the expansion of Disney Cruise Line with the announced construction of three new ships, according to a statement of the company.
"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 in the statement, adding that Iger has built Disney into the "most admired and successful media and entertainment company."
Iger will remain Executive Chairman through the end of his contract on Dec. 31, 2021.
"With the successful launch of Disney's direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO," Iger said in the statement.
"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 added.
Iger succeeded Michael Eisner as Disney's 6th CEO in 2005, becoming the soul of the U.S. entertainment giant over the last 15 years. He told media last year that he is going to retire when his current contract expires at the end of 2021.