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New York, Feb 26: Disney CEO Bob Iger, who steered the company’s absorption of Star Wars, Pixar, Marvel and Fox’s entertainment businesses and the launch of a Netflix challenger, is stepping down immediately, the company said in a surprise announcement Tuesday.

The Walt Disney Co. named as his replacement Bob Chapek, most recently chairman of Disney’s parks, experiences and products business.

“Did not see this coming -- Wowza,” tweeted LightShed media analyst Rich Greenfield.

Iger will remain executive chairman through the end of his contract on Dec. 31, 2021. Besides leading the board, Iger said he will spend more time on Disney’s creative endeavors, including the ESPN sports network, the newly acquired Fox studios and the Hulu and Disney Plus streaming services. He said he could not do that while running Disney on a day-to-day basis.

“It was not accelerated for any particular reason other than I felt the need was now to make this change,” Iger said on a conference call with reporters and analysts.

Iger steered Disney through the successful purchases of Lucasfilms, Marvel, Pixar and other brands that became big moneymakers for Disney. Last year, the top five movies in U.S. and Canada theaters were all Disney movies, including two from Marvel and one from Pixar. With the Dec. 20 release of the latest “Star Wars” movie, Disney had seven movies that each sold at least $1 billion in tickets worldwide last year.

Iger’s most recent coup was orchestrating a $71 billion purchase of Fox’s entertainment business in March and launching the Disney Plus streaming service in November. That service got nearly 29 million paid subscribers in less than three months. In a statement, Iger said it was the “optimal time” for a transition.

Pivotal Research Group analyst Jeffrey Wlodarczak said Iger had implied he would stay until his contract ended in 2021.

“On the other hand, they just successfully closed the Fox deal and had an unquestionably successful launch of Disney Plus so maybe he felt earlier was better to hand off the reins,” he said.

Colin Gillis, director of research at Chatham Road Partners, said the choice of Chapek seems solid because his parks division has had success.

Chapek said that while he has not led television networks or streaming services, his background in consumer-oriented businesses should help. Chapek and Iger both stressed that Disney would continue on the direction it had already been taking.

Disney is facing challenges to its traditional media business as cord-cutting picks up, meaning less fees from cable and satellite companies to carry Disney networks such as ABC, ESPN and Freeform. Disney’s own streaming services require the company to forgo money in licensing revenue, although the company is betting that money from subscriptions will eventually make up for that.

In the short term, Disney parks in Hong Kong and Shanghai, China, remain closed because of the coronavirus outbreak. In a CNBC interview, Chapek said the outbreak may be a “bump in the road,” but he said the company could weather it given “affinity for the brand.”

Iger told CNBC he had no plans to stay with Disney beyond next year.

Iger’s appointment as CEO in 2005 had been accompanied by controversy and protest from dissident shareholders Roy E. Disney and Stanley Gold. But he has come to be seen as a golden-boy top executive, and even someone who could run for president.

Iger told Vogue in 2018 that he had started seriously exploring a run for president because he is “horrified at the state of politics in America today,” but the Fox deal stopped his plans. Oprah Winfrey told Vogue that she “really, really pushed him to run.”

Iger, a former weatherman, joined ABC in 1974, 22 years before Disney bought the network.

At ABC, Iger developed such successful programs as “Home Improvement,” “The Drew Carey Show,” and “America’s Funniest Home Videos” and was instrumental in launching the quiz show “Who Wants to Be a Millionaire.” He was also criticized for cancelling well-regarded but expensive shows such as “Twin Peaks” and “thirtysomething.”

Since Iger became CEO, Disney’s stock price has risen fivefold. Its stock fell more than 2% in extended trading following the announcement, on top of a broader market selloff on virus fears during regular trading.

Iger, 69, was the second-highest paid CEO in 2018, as calculated by The Associated Press and Equilar, an executive data firm. He earned $65.6 million. The top earner was Discovery’s David Zaslav who earned $129.5 million.

Susan Arnold, the independent lead director of the Disney board, said succession planning had been ongoing for several years.

Chapek, 60, is only the seventh CEO in Disney history. Chapek was head of the parks, experiences and products division since it was created in 2018. He was previously head of parks and resorts and before that president of consumer products.

Mumbai, Jun 16: The International Space University (ISU) in France has paid homage to Sushant Singh Rajput in a statement, saying the news of the actor's death was "deeply saddening".

Rajput was found dead in his Bandra apartment on Sunday.

According to an official, Mumbai Police found out during the probe that the 34-year-old actor was under medication for depression.

The official Twitter handle of ISU on Monday tweeted how Rajput was supposed to visit the campus last year but was unable to due to scheduling conflict.

"We are deeply saddened by the dramatic news on the death of well known Indian actor Sushant Singh Rajput. Mr Singh Rajput was a believer and strong supporter of STEM education and was following ISU on social media.

"He had even accepted an invitation to visit ISU's Central Campus in the summer of 2019 but other agenda priorities prevented him from travelling to Strasbourg," the statement by the university read.

ISU paid condolences to Rajput's family and friends, saying the actor's memory will "remain among his thousands of followers across India and all over the world".

Rajput had enrolled at Delhi Technical University (DTU) in 2003, which was then known as Delhi College of Engineering, but left the course to pursue his showbiz dreams.

Even after leaving the four-year degree course, he remained fascinated with science and had a deep interest in astronomy.

As part of his research for the film "Chanda Mama Door Ke", he also visited the National Aeronautics and Space Administration (NASA) in 2017.

Rajput had stayed in NASA to train for his role as an astronaut for the film, which was eventually shelved.

The actor also owned Meade 14" LX600 telescope.

Mumbai, Jul 3: Bollywood woke up to the shock news of their beloved 'masterji' Saroj Khan's death on Friday, with many celebrities remembering the veteran choreographer as a "genius" and an "inspiration" to others.

Khan, the name behind some of the most famous songs in Bollywood such as "Dhak Dhak" and "Ek Do Teen", died of cardiac arrest early on Friday morning. She was 71.

Superstar Akshay Kumar termed Khan's demise as a "huge loss" to the industry.

"Woke up to the sad news that legendary choreographer #SarojKhan ji is no more. She made dance look easy almost like anybody can dance, a huge loss for the industry. May her soul rest in peace," he tweeted.

Choreographer Farah Khan said she was among the countless artistes who were inspired by Khan's work.

"Rest in peace Sarojji... You were an inspiration to many, myself included. Thank you for the songs," she wrote on Twitter.

Choreographer-turned-filmmaker Remo D'Souza said, "#RIP Saroji, you will be missed... Big loss to dance fraternity."

Actor Taapsee Pannu said she will forever cherish the memories of working with the veteran choreographer.

"At least I had a chance to dance in your company. I am going to hold on to those memories tight... real tight. We lose another star to the sky. Your songs will make every girl remember you for ever and ever," the actor tweeted.

Nimrat Kaur said there will be no one in the industry who could do what Khan did in her lifetime.

"Saroj ji’s name introduced the word ‘choreographer’ to my life. A genius who immortalised stars and the music that defined an era with her iconic work. May her loved ones find strength and courage at this terrible hour. There’ll never be another...#RIPSarojKhan #Legend #Masterji" she said.

Genelia Deshmukh said she is grateful to have worked with the legendary artiste.

"RIP Saroji ... I thank God I got a chance to be choreographed by you...Prayers and Strength to the Family... #SarojKhan" she said.

"Woke up to the heartbreaking news of the legendary choreographer #SarojKhan’s demise. Her iconic dance moves inspired me at a very young age. Rest in peace Saroj Ji. You are truly irreplaceable," tweeted Tamannaah Bhatia.

Rakul Preet Singh mourned that her dream of working with Khan will remain unfulfilled.

"Always dreamt of doing at least one song Choreographed by her. Your grace and contribution to Indian cinema shall always be remembered. May your soul RIP. Strength to the family," she said.

Filmmaker Sanjay Gupta said he learnt a lot while working with Khan.

"The first song I conceived 'Tamma Tamma Loge' to 'Dil Dil Dil' the first song of my debut film 'Aatish' we’re choreographed by the legendary Saroj Khan. Learnt so much from her. RIP Saroj Ji and keep smiling like you always did," he wrote on the micro-blogging site.

"Saroj Khan my beloved Masterji. #RIPSarojKhan From Music Videos to films we had a long journey together. Now you’ve left me and gone. I will do and make what we spoke about one day, my promise to you," tweeted filmmaker Kunal Kohli.

Khan, a three-time National Award winner, was not keeping well for some time. She was admitted to Guru Nanak Hospital in Bandra last Saturday after she complained of breathing issues. She had tested negative for Covid-19.

The veteran choreographer is survived by son Raju Khan and daughter Sukaina Khan.

Her funeral was held on Friday morning at a cemetery in suburban Malad.