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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, Mar 23: Disgraced Hollywood mogul Harvey Weinstein has tested positive for the novel coronavirus, US media reported Sunday.

Harvey Weinstein, 68, is in prison in northern New York state after being sentenced to 23 years in jail for rape and sexual assault.

The fallen film producer's diagnosis was first reported Sunday evening by local paper the Niagara Gazette.

Harvey Weinstein's spokespeople have declined to comment to US media on the subject.

The New York state Department of Corrections did not respond when contacted by AFP for confirmation of the reports.

Harvey Weinstein was transferred Wednesday to a prison near Buffalo, 350 miles (560 kilometers) northwest of New York City.

Prior to his transfer, he stayed at Rikers Island prison and a Manhattan hospital, where he was treated for chest pains.

Crowded US prisons have the potential to become hotbeds for coronavirus infections. Last week, guards at Rikers and New York's Sing Sing prison tested positive for the virus, local media reported.

As of Sunday, the virus has killed 417 people in the US out of more than 33,000 cases, according to a tracker managed by Johns Hopkins University.

Harvey Weinstein was convicted in February of a criminal sexual act in the first degree and rape in the third degree, while being cleared of predatory sexual assault charges.

He was convicted of raping ex-actress Jessica Mann in 2013 and of forcibly performing oral sex on former production assistant Mimi Haleyi in 2006.

Nearly 90 women, including Angelina Jolie and Salma Hayek, have leveled sexual misconduct allegations against Harvey Weinstein, the Oscar-winning producer of "Shakespeare in Love" and numerous other critical and box office hits.

New Delhi, Jun 22: Amidst a strain in the ties between India and Nepal, actor Manisha Koirala, a Nepali national, on Monday urged people of both the countries to be not "aggressive and disrespectful" towards each other.

Koirala, a leading Bollywood actor of her times, took to Twitter to request people to let the respective government resolve the issues and stay "civil."

"A heartfelt request please let's not be aggressive and disrespectful..we are in this situation together..our respective Gov's will resolve the issue. In the meantime we can be civil ..I remain hopeful," she tweeted.

Earlier last week, Nepal 's Upper House of Parliament endorsed a proposal to discuss the Constitution amendment bill to update the country's map that incorporates parts of Indian territory.

Nepal's House of Representatives had on June 10 endorsed a proposal seeking consideration of a constitution amendment bill for change of country's map after a lengthy discussion. Nepal has made offers to India to hold "diplomatic talks to resolve the territorial issue" between the two countries.

New Delhi has said that the updated map is "not based on historical facts and evidence" and termed the claims by Nepal as artificial enlargement.

External Affairs Ministry spokesperson Anurag Srivastava also said that the move is violative of the current understanding to hold talks on outstanding boundary issues.