Tough to be a woman today: Kajol

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, Mar 21: Ever willing to rally behind Narendra Modi, Bollywood celebs pitched in to drum up support for the Prime Minister's idea of a 'Janata curfew' on Sunday to minimise social interaction and slow down the spread of the coronavirus in India.

Narendra Modi floated the idea yesterday of people staying indoor from from 7 am to 9 pm on Sunday to break the chain of the virus transmission.

Shah Rukh Khan tweeted, "It's imp 2 reduce social interaction 2 minimum. Self Quarantine. The idea of #JanataCurfew on Sunday is a means to this end & we should continue this concept at a personal level as much as we can & more. We need to ‘slow down time' to arrest the virus spread. Be safe & healthy all."

He added a video message later, asking his fans to not panic. "I appeal to all people to avoid public places and to avoid commuting by trains and buses if not absolutely necessary. The next 10 to 15 days are extremely crucial. To fight this crisis the government and the citizens have to put up a strong joint front.

"So I appeal again please do not panic and please be careful about misinformation. And please follow the instructions and guidelines issued by the state government," Shah Rukh said in his video message.

Tamil actor-politician Kamal Haasan it was time to take extraordinary measures to fight the virus.

"I stand in full solidarity with our Prime Minister's call for #JanataCurfew. In this extraordinary situation, we have to take extraordinary measures. It's a disaster that has befallen on us and by staying united and indoors, we can Stay Safe," he said.

Yesteryears actress Madhuri Dixit Nene added her bit.

"It's time to understand our social responsibility & follow the guidelines. Let's show gratitude to all the people who have been working round the clock for us by observing the #JantaCurfew on 22nd March. Do your part. Stay safe to keep others safe," she posted on Twitter.

Actor Shahid Kapoor said more or less the same thing.

Legendary Lata Mangeshkar extended her support to the 'Janta Curfew' called by Modi and also hailed the decision of Maharashtra chief Uddhav Thackeray to shut down workplaces from Friday midnight till March 31.

"Prime Minister Narendra Modi has called for Janata Curfew and I support this. Also I laud the decisions taken by Maharashtra Chief Minister Uddhav Thackeray. I urge everyone to support this and overcome this crisis," Mangeshkar tweeted.

"Request everyone to stay home and adhere to the #JanataCurfew on the 22nd of March from 7am to 9pm. Let's all fight this together! @narendramodi #IndiaFightsCorona," Ayushmann Khurrana tweeted.

"Request everyone to stay home and adhere to the #JanataCurfew on the 22nd of March from 7am to 9pm. Let's all fight this together!," he said, tagging PM in his tweet.

Last night, actor Kartik Aaryan took to social media to deliver a ''Pyaar Ka Punchnaama'' style monologue about the importance of social distancing in fighting the coronavirus pandemic.

Celebrities such as Amitabh Bachchan, Karan Johar, Akshay Kumar and Hrithik Roshan also took to social media to applaud Prime Minister''s statement on Janata curfew.

Meanwhile, several top stars of the industry, including Bachchan, Akshay, Ajay Devgn, Alia Bhatt, Varun Dhawan, Madhuri, Ranveer Singh recorded a special video to spread awareness about the novel coronavirus.

The one minute fifty second long video, an initiative by Rohit Shetty Picturez in collaboration with Maharashtra government, features actors appealing to citizens to tread with caution and safety amid the pandemic.

Chennai, Mar 12: Superstar Rajinikanth on Thursday clarified that he never aspired to become the Chief Minister of Tamil Nadu and said his plans for politics include different heads for his prospective party and a possible government headed by it.

In his first official press conference since December 31, 2017, when he announced to take the political plunge, the veteran star also said he planned to appoint as CM, an educated youth who was compassionate and had self-respect.

With a two-leadership system for party and the government, the former would act as an "opposition" to highlight issues and would not even hesitate to "remove", apparently the head of the government, if it fails to perform, he said.

His prospective party would focus on including a substantial amount of youngsters in the age group of below 45 years while the rest would comprise retired judges and IAS and IPS officials among others.

"I myself would reach out to them and invite them," to join him, the 69-year-old actor said.

Contrary to expectations, he however, did not make a concrete statement on floating his party but called for an "uprising" by youth, after which he would make his formal political entry.