Bob Chapek to replace Bob Iger as Disney CEO with immediate effect

Bob Chapek to replace Bob Iger as Disney CEO with immediate effect

HeadlinesCTRViewsStateHeadline #1Enter headlineDisney CEO Bob Iger to immediately step down; to be replaced by Bob ChapekDisney CEO Bob Iger to immediately step down; to be replaced by Bob Chapek0.00%0ActiveHeadline #2Enter headlineBob Chapek to replace Bob Iger as Disney CEO with immediate effectBob Chapek to replace Bob Iger as Disney CEO with immediate effect0.00%0ActiveCEO, Bob Iger, would soon step aside to make way for Bob Chapek, the chairman of Disney parks, experiences and products

- Iger, who has served as CEO since 2005, would now focus on the creative strategy of the company

- Disney’s shares fell by about 2.5% after the announcement and Iger revealed that there would be a smooth transition

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YEN.com.gh has learned that the Chief Executive Officer (CEO) of Disney, Bob Iger, has been replaced with immediate effect.

The chairman of Disney parks, experiences and products, Bob Chapek, would now assume the role of CEO.

Information available shows that Iger would now focus on the creative strategy of the company throughout the remainder of his tenure.

Bob Chapek to replace Bob Iger as Disney CEO with immediate effect

Source: CNBC
Source: UGC

READ ALSO: Ghana restructures expensive power contracts as it tries to reduce bills

This comes after major products such as Fox merger, which was sealed for $71 billion, and launch of Disney+ have been accomplished.

Per a report by CNBC, Chapek would, however, continue to report to Iger, and would soon be appointed to the firm’s board of directors.

Few hours after the announcement, Disney’s shares fell by about 2.5% and Iger later revealed that the current arrangement is to ensure smooth transmission.

According to Iger, he intended to step down in 2021 after being CEO since 2005 but he indicated that he repeatedly pushed back his retirement plans.

Bob Chapek to replace Bob Iger as Disney CEO with immediate effect

Bob Chapek, Incoming CEO Source: CNBC
Source: UGC

Disney recently revealed that its Disney+ service had 26.5 million paying subscribers during its first quarter of 2020 after it was launched in November 2019.

Soon after his appointment as CEO, Iger announced the acquisition of Pixar Animation Studios for $7.4 billion.

READ ALSO: Renewed concerns as fresh reports show African countries now pay more for debts

In other news, leading economies in Africa are turning towards wind energy in a bid to provide power to homes, YEN.com.gh has learned.

Information available shows that this forms part of a trend to take advantage of clean energy all over the continent.

The continent’s most advanced economy, South Africa, had paved the way in a bid to take advantage of policies and projects geared towards energy.

It is therefore poised to lead the drive for wind power installations as it takes advantage of an additional 3.3 gigawatts added to its energy capacity by 2024.

Per a report by qz.com, this is an attempt to achieve two objectives; coping with the problems at its national power company, Eskom, and trying to slowly reduce its addiction to coal.

Another major leader in the energy industry, Kenya, opened the continent’s largest wind farm in 2019 and will soon be in the position to claim total renewable energy from various sources including geothermal and solar.

YEN.com.gh understands that investment in clean energy in sub-Saharan Africa increased to $7.4 billion in 2018 up from $2.3 billion in 2017.

In the year 2018, South Africa accounted for $4 billion of investment driven by a major onshore wind project.

READ ALSO: Apple to release high-end headsets in 2020; details emerge online

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