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New Disney CEO Bob Chapek Joins Walt Disney Board of Directors – Variety

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Walt Disney Co. has elected Bob Chapek, the corporate’s newly appointed chief government, to its board of administrators, lower than two months after the shock announcement that he would succeed Bob Iger within the high spot.

“Bob Chapek has demonstrated outstanding management within the face of unprecedented challenges that had been unimaginable when he grew to become CEO simply seven weeks in the past, and we’ve watched him navigate this very complicated state of affairs with decisiveness and compassion,” mentioned Iger and Susan Arnold, unbiased lead director of the Disney board. “We’re happy so as to add Bob to the Board, as we said we’d when he was named CEO.”

Iger has since transitioned to the function of government chairman. The Disney board now has 10 members, together with Chapek.

Previous to his elevation to CEO, Chapek served as chairman of Disney’s parks, experiences and merchandise division for 2 years, and was chairman of parks and resorts since 2015. The Disney veteran has spent 27 years on the leisure conglomerate. Although Iger had made clear that he didn’t intend to delay his retirement past the tip of his contract by way of the tip of 2021, the altering of the guard on Feb. 25 took the business abruptly.

The phase Chapek led most lately has been hit laborious within the wake of the coronavirus pandemic, with all Disney theme parks and resorts worldwide now shuttered, together with the indefinite closure of Disneyland and Walt Disney World within the U.S. Amid the shelter-in-place orders which have shut down the overwhelming majority of the leisure business, Disney has furloughed tens of hundreds of employees throughout varied divisions. Iger has determined to forgo his wage for the yr, whereas Chapek has slashed his pay in half as Disney’s senior execs every take pay cuts.

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