Report: Bob Chapek Seen as Disney CEO Succession Frontrunner27 Nov, 2017 By: Erik Gruenwedel
Bob Chapek, who once headed Walt Disney Studios Home Entertainment, is reportedly in line to become CEO of the Walt Disney Co. when Bob Iger vacates the position in July 2019.
Bloomberg, citing sources familiar with the situation, said Chapek — a 24-year veteran at Disney — has shined heading key business segments within the media giant’s global empire.
While no official decision on Iger’s replacement has been made, the long-time executive has announced he would retire in 19 months. Iger’s three previous retirement attempts have resulted in contract extensions.
Chapek-led Parks and Resorts division was the only unit to post an increase in operating income in Disney’s most-recent fiscal year-end results. The unit, which includes Shanghai Disney, reported $746 million operating profit on revenue of more than $4.6 billion.
Previously, Chapek headed consumer products and interactive media, where he helped increase retail sales across brands Disney, Pixar, Star Wars, and Marvel via franchise licensing.
As president of Walt Disney Studios Home Entertainment, Chapek led the studio to record-setting performances and played a key role in the commercialization of the studio's film business. Chapek was also twice elected to lead the board of DEG: The Digital Entertainment Group.
“Chapek’s performance lately has just been really strong,” Bloomberg’s Christopher Palmeri said . “He’s got the most well-rounded resume of all the senior management at this point at Disney.”