Breaking news this morning - Bob Iger has stepped down as CEO of Disney, effective immediately.
He will be replaced by Bob Chapek who is generally disliked by the Disney fans especially those fans who like the Parks as he is seen as a penny-pincher. Shares dropped 2.5% in immediate after hours trading on the news.
This is a developing story, so we will hear a lot more about this in the coming days - but I guess Bob Iger is leaving on a high with a massive legacy of growth and improvement to the Disney brand, having made peace with Pixar through their acquisition, getting hold of Marvel, Lucasfilm and 20th Century Fox, and launching Disney+ and expanding the theme parks including opening Shanghai.
We may never see another period of company growth like that! I guess well should all be thankful for Mr Iger's tenure and wish him well
https://www.cnbc.com/2020/02/25/disney-names-bob-chapek-next-ceo.html