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Disney CEO Bob Iger immediately steps down from CEO position

The Walt Disney Company announced this afternoon that Robert Iger, the company’s long-time CEO who ushered in the company’s lush franchise and entertainment platform profits, will step down immediately as chief executive. Bob Chapek, a long-time senior exec at the company who most recently held the position of Chairman of Disney Parks, Experiences and Products, will succeed him.
Chapek, as head of Disney’s Parks Division was a somewhat divisive figure in that he led with a ‘value engineering’ (the Imagineering word for trimming cool stuff) and budget concious strategy instead of the more popular ‘let Imagineers do the most’ tactic that has produced some of the Parks most enduring rides and experiences. Disney Twitter has been quick to descend upon the Chapek choice as a sign of possible rough times ahead for Parks budgets.
Our guess for who would head Parks is Josh D’Amaro, extremely well liked former head of Disneyland who now heads Walt Disney World. Liked by Parks people for a lot of the opposite reasons, which politically could make this a non starter, but would be very popular appointment.
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