Former Walt Disney Company CEO Michael Eisner Reacts to Bob Iger Stepping Down

Tuesday afternoon, Bob Chapek replaced Bob Iger as the chief executive officer of Disney. In a [...]

Tuesday afternoon, Bob Chapek replaced Bob Iger as the chief executive officer of Disney. In a move effective immediately, Chapek will take over day-to-day operations at the House of Mouse while Iger remains on board as executive chairman, helping oversee the creative endeavors of the company through the end of his contract on December 31, 2021. Since the news first broke, former Disney chief Michael Eisner has broken his silence on the situation, congratulating both of the executives on their new roles within the company. Iger replaced Eisner as CEO in 2005.

"Congratulations to @RobertIger for 15 amazing years as CEO of the @WaltDisneyCo," Eisner tweeted Tuesday night. "Fantastic job protecting the #Disney brand, expanding the breadth of the overall company, and orchestrating super growth. And he still has his hand on the creative rudder for almost two more years."

In a follow-up tweet, Eisner expressed his excitement for Chapek's new promotion. "Bob Chapek becomes the new CEO of #Disney reporting to @RobertIger through the end Iger's [sic] contract. Bob has vast experience over multiple leadership roles at Disney. Congratulations Bob Chapek!"

Iger made sure to point out the recent successes of Disney+ and the Disney/Fox merger in a statement released by Disney to announce the changes.

"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 said. "I have the utmost confidence in Bob and look forward to working closely with him over the next 22 months as he assumes this new role and delves deeper into Disney's multifaceted global businesses and operations, while I continue to focus on the Company's creative endeavors."

Prior to his promotion as CEO, Chapek served as Chairman of Disney Parks, Experiences and Products. Prior to his roles on the park's side of the business, Chapek also served as president of Distribution for The Walt Disney Studios and president of Walt Disney Studios Home Entertainment.

Cover photo by STEFANIE KEENAN/Patrick McMullan via Getty Images