Abhishek Bachchan laughs over Vidya Balan's weight

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 15: Bollywood actor Shah Rukh Khan has paid a heartfelt tribute to actor Sushant Singh Rajput, who was found dead at his Bandra residence in Mumbai on Sunday.

Taking to Twitter, the superstar recalled the 'Kai Po Che' actor's "energy, enthusiasm, and his full happy smile."

Sushant, who was a big fan of Shah Rukh, was often compared to him as both the actors made a successful transition from the small screen to Bollywood without any Godfathers.

Sharing a throwback picture along with Sushant, Khan also noted how much the late actor loved him and asserted that he will surely miss him.

"He loved me so much...I will miss him so much. His energy, enthusiasm, and his full happy smile. May Allah bless his soul and my condolences to his near and dear ones. This is extremely sad....and so shocking!!," the tweet read.

Sushant, 34, committed suicide by hanging himself on Sunday, Additional Commissioner of Police Manoj Sharma confirmed. However, no suicide note has been recovered from Rajput's residence, as per the police and further investigation is underway.

As per the latest development, the body of the actor is brought to Dr RN Cooper Municipal General Hospital from his residence in Bandra.

The actor, who rose to fame with the 2008 television series 'Pavitra Rishta,' made his Bollywood debut with Abhishek Kapoor's 'Kai Po Che' in 2013.

One widely loved actor for his simplicity and humble nature, the actor gave hit movies to the entertainment industry, including MS Dhoni's biopic, where he played the cricketer on screen.

The star was last seen in Nitish Tiwari's 'Chhichhore,' alongside Shraddha Kapoor in 2019.

The news of the sudden demise of the actor left a bevy of his fans, and Bollywood celebrities in shock, triggering an outpouring of condolences.

Patna, Jun 27: As Sushant Singh Rajput’s family tries to come to terms with his loss, they have decided to honour his legacy and celebrate his passion for cinema, science and sports.

In an emotional statement shared on Saturday, the Bollywood actor’s family remembered him as a “free-spirited” person who worked hard to turn his dreams into reality.

“He was free-spirited, talkative and incredibly bright. He was curious about just everything. He dreamed without restraints, and chased those dreams with the heart of a lion. He smiled generously. He was the pride and inspiration of the family,” the statement read.

Rajput, 34, known for films like Kai Po Che!, MS Dhoni: The Untold Story and Chhichhore, was found dead in his Bandra apartment on June 14, sending shockwaves in the film industry and elsewhere.

The family said that the actor’s untimely demise has created an irreparable void in their lives.

“We can’t bring ourselves to accept that we wouldn’t get to hear his easy laughs anymore. That we wouldn’t see his sparkling eyes again. That we wouldn’t hear his endless rants about science again. His loss has created a permanent, glaring void in the family that will never be filled.”

Thanking his admirers for being a constant support as they try and recover from the loss, the family added that Rajput, “truly loved and cherished every single one of his fans.”

The actor, who made the storybook transition from Patna boy to television and then the starry lights of the Hindi film industry, was the youngest of five siblings and is survived by his father and four sisters. His mother had passed away in 2002 when he was a young teen.

To honour his memory and legacy, the family has decided to set up Sushant Singh Rajput Foundation (SSRF) that will support young talents in cinema, science and sports.

His childhood home in Rajiv Nagar, Patna, will be turned into a memorial, where all his personal memorabilia and belongings, that include thousands of books, his Meade 14’’ LX-600 telescope, flight-simulator, will be on display for his fans and admirers.

The actor’s family, who used to fondly call him Gulshan, will also maintain his social media accounts as legacy accounts to keep his memories alive.

Rajput started his acting career with television after dropping out from Delhi Technological University in the early 2000s. He was one of the few talents to have made a successful transition to movies.

The actor made his Bollywood debut in 2013 with Kai Po Che!. In past seven years, he had featured in a number of hits including blockbusters Neeraj Pandey’s MS Dhoni: The Untold Story and Chhichhore by Nitesh Tiwari.

Tiwari’s 2019 hit was Rajput’s last theatrical release.

On Thursday, it was announced that Dil Bechara, which is the actor’s last movie he shot for, will premiere on Disney + Hotstar on July 24.