Transcript for Bob Iger steps down as Disney CEO
We have a major just now from the business world. Bob iger stepping down after 15 years as CEO of Disney. That is our parent company. He's taking on a new role in a legendary career that has shaped this company and the media landscape. Longtime mber of the family Bob Chapek being named the new CEO and rca Jarvis is here with details. Caught a lot by surprise. It did. It's the end of an era. What an era it has been. Bob iger has led Disney to unprecedented success leading major acquisitions like pixel and marvel launching Disney plus and expanding the theme parks announcing he will hand over reins effectively immediately to Bob Chapek. An historic day for the Walt Disney company, Bob iger just last year named "Time's" business person of the year stepping down as CEO. The company is in great shape, you know, and that's a great time to turn the reins over to somebody else when you think about it, I can't think of a better time. Reporter: Passing the torch to Disney's longtime head of parks and resorts, Bob Chapek. It's hard to believe that I'm sitting here with Bob iger thinking about how I fill those enormous shoes that he's created for me. Reporter: After 15 years in the top job at Disney, iger has overseen tremendous growth. Expanding the company's theme parks, opening Shanghai Disney resort and leading the charge on major acquisitions. Cue the music. Reporter: Including Pixar. To infinity and beyond. Reporter: Marvel. Avengers. Assemble. Reporter: And lucasfilm expanding the Disney universe to include "Star wars." May the force be with you. Reporter: Most recently iger striking a landmark deal to purchase 21st century fox. Outstanding. Reporter: Giving Disney a majority stake in hulu. Hulu is here. Reporter: And launching Disney's streaming platform, Disney plus. May the force be with us. Reporter: A one-stop shop for all things Disney including an outlet for news stories. You are a mandalorian. I'm proud of the fact that this is among the most admired companies in the world. To have the opportunity to be the CEO of a company that is viewed that way has just been as a life experience something that I will forever appreciate and I'm so deeply, deeply grateful for. Reporter: Iger isn't leaving Disney just yet. He'll stay on executive chairman through the end of next year. He says he'll use that time to lead Disney's creative endeavors and to help Bob Chapek transition into his new role. I tell you what, he's been a good friend to all of us. Absolutely. Thank you, Rebecca.
This transcript has been automatically generated and may not be 100% accurate.