Hollywood news banter: Bob Iger resigns as Disney CEO, shocks industry

Bob Iger spent 15 years as the leader of The Walt Disney Company, overseeing huge acquisitions and unparalleled box office success, making him one of the most successful CEOs in history. So it came as a massive surprise when Iger abruptly announced he was stepping down immediately. He’s handing the reins to Bob Chapek, who has worked at Disney for 27 years and who’s been chairman of Disney Parks since 2015. Iger will lead the company’s board through 2021.

Chapek is an interesting choice because he comes from the theme park division, and while he’s worked in marketing and distribution at Disney, he has never overseen creative content. It’s been a running joke in Hollywood that Iger would never resign, so now that he has -- and so suddenly -- many entertainment insiders are scratching their heads.