On February 26th, 2020, Bob Iger, CEO of the entire Disney company, suddenly stepped down from his position. He was soon replaced by former chairman of Disney Parks, Bob Chapek. Iger has taken the role of executive chairman and will help with the company’s creative aspects until the end of his contract in 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 stated. Iger also claims he has the “utmost confidence” in Chapek and looks forward to “working closely with him over the next 22 months as he assumes this new role.”

If you don’t know who Bob Iger is, he was behind some of Disney’s biggest ventures. Under his leadership, Disney acquired Pixar, Marvel, Lucasfilm, FOX, and many other companies. Lucasfilm and him worked to add new Star Wars experiences to the Disney Parks including Galaxy’s Edge. And of course, he spearheaded Disney+, which is already one of the biggest streaming services of all time.

Does this mean that the company will be different? Not at all. Since Iger wants to spend more time on the “creative” side, this means that Disney will be thriving with new content and experiences for all of us to enjoy. Iger said that he would leave the company for good once his contact is up in 2021.”I’ve been with the company for 45 years, and was in the CEO job for 15 of those years,” Iger said, “It’s been a fun run.”