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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.

Washington, Apr 8: Choosing stethoscope over the crown, Miss England 2019, Bhasha Mukherjee, has returned to work as a doctor as the world battles with coronavirus pandemic.

According to CNN, she was a junior doctor with a specialisation in respiratory medicine, before being crowned as Miss England in August last year. The beauty queen, who has her roots in India's Kolkata city, had taken a career break from the medical field.

She had paused her medical career for some humanitarian work that she was offered by several charities and was on a tour to different countries including India.

"I was invited to Africa, to Turkey, then to India, Pakistan and several other Asian countries to be an ambassador for various charity work," CNN quoted her as saying.

She had been in India at the beginning of March for four weeks. During her stay as an ambassador of the Coventry Mercia Lions Club, the 24-year-old had visited several schools and had donated stationery and other items to the needy.

Mukherjee then returned back UK as the situation worsened there with the coronavirus spreading at a fast rate. She then contacted the hospital and asked them that she wanted to rejoin.

According to CNN, the Miss England beauty pageant winner said that she felt wrong to be wearing the crown while people around the world were dying from the virus.

"When you are doing all this humanitarian work abroad, you're still expected to put the crown on, get ready... look pretty. I wanted to come back home. I wanted to come and go straight to work," CNN quoted her as saying.

"I felt a sense of this is what I'd got this degree for and what better time to be part of this particular sector than now. It was incredible the way the whole world was celebrating all key workers, and I wanted to be one of those, and I knew I could help," she added.

As the beauty queen has a recent travel history, she is currently in self-isolation and will return to work once her quarantine period is over.
She was crowned as Miss England 2019 in August last year.

According to World Health Organisation, 13,53,361people have been affected by coronavirus and over 80,000 people have lost their lives to it.

New Delhi, May 10: While people across the country have been spending a lot of time at home owing to the lockdown, superstar Shah Rukh Khan on Saturday provided a unique platform for all the aspiring filmmakers to produce some 'fun, creative and... spooky' video.

The 54-year-old actor shared a statement on Instagram, detailing about the opportunity for the filmmakers to channel their inner "filmmaking ghost to make a scary indoor film with an element of horror in it."

Taking it to the captions, the 'Don' actor wrote: "Since we've all got a bit of time on our hands in quarantine, thought I can get us all to work a bit... in a fun, creative and... spooky way!"

In the post, titled with a hashtag 'SpookSRK,' the actor has listed down the rules to be followed while making the video and shared the email link to submit their work.

The 'Dilwale' actor also announced that the selected "three winners" will get a chance to video call the star himself.

Wrapping the post on a lighter note, he added: "I will be sending in my film as well...P.S - Ghosts are welcome to send their entries too."

This comes a day after the first trailer launch of Shah Rukh's new Netflix horror series 'Betaal'.

SRK's Red Chillies Entertainment is producing the horror-thriller. The new series also stars Vineet Kumar, Aahana Kumra, Suchitra Pillai, Jitendra Joshi, Manjiri Pupala, and Syna Anand.