Iger, who has been CEO for 15 years, is to assume the role of executive chairman and “will direct the company’s creative endeavors,” a Disney statement said. “It was really that simple,” Iger said while explaining the decision to surrender the CEO chair to Chapek. The move also allows two years for Iger to coach Chapek on aspects of Disney that he is less familiar with. “With the successful launch of Disney’s direct-to-consumer businesses and the integration of 21st Century Fox well underway, I believe this is the optimal time to transition to a new CEO,” Iger said. In Disney’s latest quarterly update, the company announced it had signed up more than 28 million customers for its Disney+ streaming service.

Source: Taipei Times February 26, 2020 15:56 UTC