The Walt Disney Company has named a new CEO.
Bob Chapek is replacing Bob Iger, effective immediately, the company announced Tuesday.
Chapek was most recently chairman of Disney Parks, Experiences and Products.
Iger will stay on as chairman through 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,” said Iger in a statement.
This story will be updated.
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