NATIONWIDE – The Walt Disney Company has elected new CEO Bob Chapek to its board of directors, the company announced Wednesday.
- Disney CEO Bob Chapek has been elected to company's board of directors
- Chapek was named CEO in late February, replacing Bob Iger
- Previously Chapek was chairman of Disney Parks, Experiences and Products
“Bob Chapek has demonstrated remarkable leadership in the face of unprecedented challenges that were unimaginable when he became CEO just seven weeks ago, and we’ve watched him navigate this very complex situation with decisiveness and compassion,” said Susan Arnold, independent lead director of the Disney board, and Disney executive chairman Bob Iger in a joint statement. “We are pleased to add Bob to the Board, as we stated we would when he was named CEO.”
Chapek, who previously served as chairman of Disney Parks, Experiences and Products, was named CEO in late February, replacing longtime CEO Bob Iger.
Iger has since transitioned to the role executive chairman and will stay on through the end of his contract, which ends December 31, 2021. Iger oversees the board and will provide “guidance” during the Chapek’s transition into the CEO role.
The board now has 10 members, including Chapek, according to Disney's corporate website.
In the weeks since Chapek’s appointment to the top spot, Disney has been hit hard by the coronavirus pandemic. The company has had to delay the release of its big-budget films and close its theme parks, including Disney World and Disneyland. Disney is also furloughing thousands of workers because of the crisis.
Top executives, including Chapek, have agreed to take pay cuts.