Bob Chapek, a 22-year veteran of Walt Disney Co., has been named chairman of the company's parks and resorts division.
Since 2011, Chapek, 55, has served as president of Disney's consumer products division. The group has been on a roll recently, reporting record results during the company's fiscal first quarter, when the unit's operating profit increased 46% to $626 million from the year-ago period.
“Under Bob’s leadership, Consumer Products has seen great success, focusing on brands and a franchise-driven strategy while launching new products and retail experiences that combine technological innovation and creativity,” Iger said in a statement.
Disney said that a successor to Chapek in the consumer products division would be announced at a later date.
"I look forward to working with the remarkably talented team dedicated to creating magical memories for millions of guests around the world,” Chapek said in a statement.
Before leading the consumer products division, Chapek was president of distribution for Walt Disney Studios, the company's film unit. He also was president of Walt Disney Studios Home Entertainment.
Chapek is talking over the parks and resorts division -- which has more than 130,000 employees -- at a pivotal time. The company is building Shanghai Disney Resort, a nearly $5-billion project expected to open in spring 2016.
“Bob is stepping into this role at an incredibly dynamic and exciting time for our Parks and Resorts business,” Staggs said in a statement.
Before joining Disney in 1993, Chapek had stints at H.J. Heinz Co. and J. Walter Thompson Worldwide.
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