how long has this been in the works and for how long have you identified bob chapek as your successorcession process on going with the board for -- actually a few years, something that we talk about virtually at every meeting, and we identified bob a while ago as a likely candidate to succeed me, but they went through a thorough process and discussed other possibilities. it's again something that the board has been engaged in for quite a while. they got to know bob very well during that period of time he ran one of our most complex, one of our most important businesses, global parks and resorts, for instance, during a time of great capital investment, at a time of great change and did so very well after working for the company for 30 years in terms of the market today, what's going on obviously today is certainly very serious and a concern to us. the timing is unfortunate, but not anything we can control. it certainly didn't play into the timing of this decision. >> you are signed on to continue through the end of 2021 overseeing all the creative elements of the company, but at the sa

this is bloomberg. ♪ emily: disney named bob chapek its new ceo this week, replacing bob iger, who willain fair. -- remain chair. it comes weeks after an upbeat earnings report. i spoke to the two executives chapek shortlyob che pac after the news came out. >> it's a great time to begin this transition. i was going to be leaving the company at the end of 2021. the board has been engaged in a process for quite some time. in bob chapek, we have somebody who knows the company very well, but he is also somebody we know very well could not think better candidate. in terms of why now, we have recently completed the acquisition of fox and have engaged in assimilating those businesses. we deployed a brand-new strategy, our direct to consumer strategy with disney plus, hulu, and hot star. given the fact that our asset was in place, my next priority was really making sure that our creative pipeline was as vibrant and rich as possible at the company, particularly given the new strategy. in order for me to concentrate on those pursuits of the company, i needed to turn over the reins to bob, to some

bob chapek becomes ceo immediately. bob iger will remain chair and continue to direct creative endeavors. another bloody day in the markets on the back of more bad news on the coronavirus. watching the edge of another cliff. no surprises for how we are set up for this wednesday trading day. new zealand already off by almost 2% futures. here in sydney, poised for another drop. asx off this week. a couple of things to watch out for when we do get going, virgin australia announced a first-half loss of $97 million. we are also expecting rio tinto earnings after the close. nikkei futures off about 1/5 of 1%. a quick look at the currencies.

. >> bob chapek will be the ceo of disney he most recently served as chairman of the parks experiences and -- bob iger will assuming the role of executive chairman and creative endeavorsly providing benefit , at the end of december, now 20-21, iger had extended his contract numbers times in a press release, iger saying the direct-to-consumers businesses and be grace of 21st century fox, he believes it's the optimal time for the transition chapek will be at the helm, he was most recently running parks and the studio he has been in the various roles. it seems like being selected, because of his extensive leadership, especially most recently expanding the parks division into china, over the -- as well as expanding the disney cruise line business then before that, chapek was president of the formerly disney -- he also ran the walt disney home entertainment division, so experience across these various divisions. notable that iger is stepping down before the official end of his contract disney is going to be talking about this after that, i will be sitting down with bob iger as well as bob c

bob chapek knows distribution and marketing. it may say something about where the market goes next. hey need good deals or do they need to execute on the deals bob iger has already done? abigial: that is a good point. the biggest deal, fox, and then over the last years pixar and lucasfilm, they have the legacy content in place. -- isoint that bob chapek someone who can get more done on a day-to-day basis, especially around the parks. this stock is almost in a bear market from its all-time high, much of that coming just in the last week on coronavirus fears. they have hong kong -- david: they have hong kong as well. also substantial cruise lines. abigial: that is an amazing point. all of the turmoil around the coronavirus in cruise lines. when you think about disney i think about those parts. they have closed the asian one. now we have the cdc saying it is when, not if that can affect operations here. who wants to get on a cruise line? believe cruise line is included in that 37% segment. that could be a real hit. david: they have great assets and they will come through at some point.

emily: bob chapek, day one for you is today. this is effective immediately. lked you had to hit sequels -- bob talked about the streaming strategy, you had to hit sequels to toy story and frozen. you have opened the star wars portion of that the park, where do you intend to double down? mr. chapek: i intend to double, the same strategies bob has established 15 years ago that served us so well. at the core of everything, the center of our brand is creative storytelling. if the creative storytelling is right, then everything else is right, no matter where you put it. whether you put it in theatrical channel, disney + or the theme parks. the thing i have taken away from bob iger's legacy is getting the content right. everything else will follow suit. bely: bob, you said you will focused on creative endeavors. can you give us an idea of what things you will be focused on? television, star wars. mr. iger: creativity abounds the -- at the company, whether it is a television channel or our various movie studios, or all of the places that we create globally. there is

and stepping in as ceo, bob chapek, who had been chairman of disney parks, experiences and products. for bob iger, the move caps an extraordinary run at the top. he will stay on for a time. and in a note to all of us who work for disney today, bob called it an historic day. here's abc's kayna whitworth tonight, who spoke with both leaders just a short time ago. >> reporter: tonight, passing the torch at the walt disney company. the board announcing bob iger stepping down as ceo, effective immediately. iger saying it's an optimal time to transition, after 15 years leading the company, to focus on creative endeavors at disney. >> i needed to spend more time on the creative side of our businesses, because there's really nothing more important, particularly with the new strategy that we have in place. but in order for me to do that, i had to pass the reins onto someone else, this gentleman, as it turns out. >> reporter: as disney's sixth ceo, iger oversaw tremendous growth -- >> new toys! >> reporter: -- acquiring pixar, marvel and its "avengers" franchise, including revolutionary blockbu

bob chapek becomes ceo immediately. bob iger will remain chair and continue to direct creative endeavors. another bloody day in the markets on the back of more bad news on the coronavirus. watching the edge of another cliff. no surprises for how we are set up for this wednesday trading day. new zealand already off by almost 2% futures. here in sydney, poised for another drop. asx off this week. a couple of things to watch out for when we do get going, virgin australia announced a first-half loss of $97 million. we are also expecting rio tinto earnings after the close. nikkei futures off about 1/5 of 1%. a quick look at the currencies. the aussie dollar did briefly dip below $.66. it is just holding on above that level them. the yen continuing to strengthen. a little bit of a rebound but not much in the 10 year as well. the u.s. centers for disease control and prevention is warning americans to prepare for the coronavirus outbreak at home. >> it is not really a question of if this will happen anymore, but when, and how ma

maria: iger is being replaced by bob chapek. of disney parks experiences and products division. is he the right person to take over and what do you think is behind this? i mean, i know it's all speculation, we'll never know specifically why they decided to announce this yesterday and he is going to be giving up the title effective immediately. but is chapek the right guy? >> seemingly. he oversaw parks. parks is a very important part of disney. it's a big revenue generator and it's the way that disney connects and interacts with their customers. but i think bob iger did a great job. we don't know exactly why disney is having an analyst meeting in new york tomorrow aged sure he's going to be asked endlessly about the change and why it became so abruptly -- it came so abruptly. but i think that disney -- he's done a good job and he oversaw one of disney's biggest accomplishments, the launch of disney plus, which is a way that people can connect with disney on johnson & johnson going basis and -- with disney on an ongoing basis and

bob iger, the ceo of disney, is stepping down he is expected to officially announce his successor bob chapekanding on a rock and holding him up to the sun. [ laughter ] ♪ ♪ disney ceo that's right, disney's ceo bob iger is stepping down and will be replaced by a man named bob chapek disney even released this announcement take a look. >> as disney says good-bye to bob iger, we're also excited to announce our next ceo, bob chapek along with the new members of our board. bob johnson, bob hobart, bob bobson, bobby bobberbob, barbara bobs, bobby bob thornton bobwitdabob dabob dabob bobby bobby bobby bobby shake da bobby, said up jump the bobby. and bobby yoda [ cheers and applause >> steve: hey. bobby yoda >> jimmy: this is going viral. a fashion designer in england created inflatable latex trousers check this out [ laughter ] >> jimmy: it's great if you want people walking up to you all day and asking, "so what happened to your testicles?" [ laughter ] >> steve: wow. he was walking on the balls of his feet [ laughter ] hey, oh. >> jimmy: this is crazy. today is the five-year anniversary of the i

naming bob chapek the new ceo.ring in laura martin, managing director and senior entertainment analyst at need him -- at needham. thisuch of a surprise is to you and how much does the particular choice say about disney's priorities? >> it is a huge surprise. factuddenness of it, the that they don't have a new parks head, it makes it seem really sudden. ggsl street wanted tom sca about five years ago. today, i think they were expecting meyer to get the top job. the head of parks getting it is a big surprise, i think. romaine: bob chapek ran parks but before that he had experience running the consumer products division and the buena vista arm. he has been there a a while. is this the kind of talent they need at the top or should they have looked outside the company? laura: i would say, another reason is a big surprise, the reason they did not give the job ags for is because he did not have creative experience. guy who camee fx over from fox might get this job because he is a creative person. the stock noting that is

ceo bob iger handing over the reins to bob chapek. from "star wars" to "the avengers," to "frozen," to baby yoda, the new chapter for the company and for a legendary career. >>> we certainly do say good morning, america. bob iger, 15 years as the ceo. more than four decades with the company. >> it's been an incredibly amazing run. not quite over yet. will be executive chairman for another year and a half. >>> it's a very busy wednesday morning. we're coming off that democratic debate in south carolina last night. it was a raucous one, bernie sanders on the firing line. for the first time they debated that issue on so many of our minds, coronavirus. it came right after a new warning from the cdc saying its spread here is inevitable and americans should prepare for "significant disruptions in their lives." >> overseas a u.s. soldier has now become the first american service member in south korea to become infected and fears hitting wall street hard again with the dow dropping nearly 880 points. there are now more than 81,000 cases worldw

he's considered by many to be the most powerful man in hollywood and will be replaced by bob chapek,sney's ‘parks and products division'. tesco is set to cut more than 1,800 jobs as it makes changes to bakeries in its larger uk stores. the supermarket giant the changes were likely to begin in may. the main union representing tesco staff — usdaw — said the reports ofjob cuts were "devastating" for staff. tesco is the uk's biggest grocery chain and it employs 450,000 people worldwide. up next — newsbriefing. the scottish parliament has given its backing to plans which would make sanitary products free of charge to all women. the measures are expected to cost around £24 million a year. schools and colleges already provide the products at no cost. 0ur correspondent suzanne allan has the details. period poverty means girls can't afford to buy sanitary product. it can mean some girls have to use products like tissues and socks. this means some girls are afraid to come to school and don't want to leave the house. so these other pads that we sent to the school. probably every month or so sch

. >> disney named bob chapek as its new ceo. speculation ofof who was top bob iger.e company's theme park and consumer products, businesses, and will take over the role immediately. iger becomes pair. what do we know why they chose this route? >> iger's contract was up at the end of 2021. we were expecting to hear somebody about who would succeed him at disney, just not today. now he is officially ceo. the way they say they are going to split this up is bob iger will handle the creative responsibilities, while chapek gets up to speed on the tv side of the business. bob: in bob chapek, we have someone that not only knows the company very well, having run a few of our important businesses, including parks and resorts, but he's also someone we know very well. i couldn't think of a better candidate to take over the company. bob c: i intend to double down on the same strategies bob established 15 years ago that have served us so well. the thing i have taken away from bob iger's legacy is get the content right, and everything else kind of follows suit. kong's announced a $

disney ceo bob iger has decided to step down from that role, installing the head of parts division bob chapekn his place. julia boorstin sat down with both of them last night and has the highlights. >> bob iger stepping back as ceo of the company, having transformed the company entirely in that role with the acquisitions of marvel and pixar and lucasfilm, the acquisition of fox giving disney massive scale. iger transitioned the company to focus on streaming and launch disney plus to such early success last year he started the conversation with the board about the potential to pass the baton to ay-to-day leadership and focus on disney content. >> we have a great set of assets and strategy and what's next what's next in my own priorities was make sure the creative pipeline of the company was really rich. all of our creative engines were working extremely well and i wanted to spend more and more of my time on that. >> disney shares are up about 430% as iger took over in 2005 as iger transformed the company more than any of its prior ceos. chapek saying now he wants to continue what iger started

bob chapek is the company's new leader. prior to this chapek was leading the theme park division. bob iger announced yesterday he is stepping down after 15 years on the job. he will stay through next year as executive chairman. iger says he is embracing his new role with disney and sees the transition as a passing of the torch. >> i'm just as committed to the country with a different title and a different role. more than anything i'm committed to a successful succession process. >> it's an honor and those shoes are very, very big. i've had the opportunity to watch bob work his magic at disney for 15 years. i have plenty of awe. >> iger added he wants to focus on the creative side of the business now that he's no longer in charge of daily operations and disney is the parent company of abc7 news. >>> new at 6:00, starbucks is launching a plant-based breakfast sandwich. the beyond meat cheddar and egg sandwich is flavored with rosemary and other herbs and spices. it will be available in canada starting on march 3rd and then we'll get it at some point. >> why? why can't we get it now?

surprise shakeup at disney, bob , handingtepping aside the reins to bob chapek.ill take over immediately as head of the world's biggest entertainment company. in the latest democratic debate, -- all bernie sanders six rivals hoisted attacks, stalling his momentum. michael bloomberg has been rising in national polls after spending more than $5 million on advertising. a reminder, bloomberg is the owner of the parent company of bloomberg news. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. anna: thanks very much. let's get on to stocks to watch this morning, dominated by the big overall market moves. autod mining, around the sector, around luxury, around anything that has been responsive to the coronavirus so far. let's flag up a few interesting stories. annmarie hordern is looking at hermes. dental -- ering dannone. >> hermanus had double-digit growth -- hermes had double-digit growth again. usually we have a lot of good growth in the leather goods division. that could reduce hermes' dep

theme parks chief bob chapek, who is taking over as disney's new chief executive officer. why did he get the nod? and what happened to these two guys, chairman of disney direct to consumer and international, kevin mayer, and michael paul, president of disney streaming services. aren't they making such a big deal of streaming and hasn't that helped the stock recently? if disney continues to lean more into streaming, taking on behemoths like netflix, deirdre bolton has been doing some digging on mr. chapek and boy, he's a dark horse certainly. why did he get the nod over other contenders? deirdre: numerous reasons. let me take you through them. he's known as a cool head. he has been with bob iger in some pretty stressful moments and really has become someone that bob iger counts on quite a lot. he's a very known and talented operator, if you like, and even though to your point he is not necessarily a household name, he ran more than 20 years' worth inside disney, three divisions, one of which was one of the highest grossing revenue parts of the business. i'm going to give yo

chapek at the helm? >> you have to give kudos to the interaction between bob and the board.ind of writing the book on an orderly transition i think the market underestimates disney. it has been a very, very powerful hand. he's from the parks. they are a wonderful business. people don't appreciate the technology of the park they have two rides right now, the avatar ride and one of the star wars rides. they are so powerful, they are not even on the fast pass system which tells me the demand to go to these rides and the parks has way more strength than the market believes. one attraction there, making your own star wars sword, i understand is sold out for the entire month of march. the demand and the chinese government will do what it can to stimulate what it can given the virus threat passes money that will help hong kong business owned by the government you have government partnership in asia helping them i just think this kind of multiple experiencing the financial officer. you have the operationalnal. it is a wonderful promotion. i have no doubt the board, which is very str

bob iger will step down at disney and bob chapek named ceo effective immediately. of disney parks, services and products. shares down after hours for a lot of reasons. tough day in the market. we'll hear more about the story, no doubt. connell. connell: the dow losing nearly 2,000 points in the last two trading days. it happens as democratic candidates for president are taking the stage for the 10th debate of the 2020 election cycle. here is now michael nutter, national political co-chairman for the bloomberg campaign. also the former mayor of the city of philadelphia. thank you for coming on. >> thank you. connell: from the bloomberg headquarters. second debate for your candidate. obviously there will be a lot of focus and pressure on him. i want to ask you how he might improve upon the first performance, but first, given the market decline, obviously what we're focused on last couple days, is there an area there where there is a, you can politically capitalize possibly or talk about your experience if you're a mike bloomberg and in handling the economy, given wha

bob chapek will assume the role of ceo. >>> jimmy john's is removing sprouts from the menu.tter from the fda linking several e. coli outbreaks to the sandwich chain. the letter accuses them of engaging in a pattern of receiving and selling adulterated fresh produce, clover sprouts and cucumbers. the fda says it impacted consumers in many states. and the sprouts have been removed until further notice. >>> amazon wants the checkout line to become a thing of the past. yesterday the e-commerce giant opened up the first cashierless store. items are charged to the amazon account after leaving and amazon go grocer is an expansion of the go convenience stores. >>> peanut butter making jif is releasing a limited edition jar. it's supposedly to settle the great debate over how to pronounce the words spelled g-i-f. people often pronounce it as gif, hard "g." but it's pronounced jif according to the maker. they're already sold out of the jars. >> i knew it was pronounced jif but the "g" stands for graphic so i argue it should be pronounced gif. >> i know, the debate just continues on th

stuart: a title i will take it. >> i think bob chapek is great choice. he will report to iger for now. there is issue of a former chief, is hollywood kingpin, how can he live up? that is exactly what people said about bob iger with regard to michael eisner 15 years ago. he certainly lived up. stuart: i knew him, actually. i had dinner with him one night many years ago. quite an argument. ashley: oh. stuart: different story entirely what do you make of bob iger -- ashley: you can't lead like that. >> i think he is tremendous. lauren just documented the track record. i think this is a model transition because he is not walking away as you point out, stuart. he is staying as executive chairman. he will still be involved. new guys coming in, those parks are fantastic. several rides you're able to sell independent of getting the all park pass. apparently this thing to make sabre swords sold out already for march. the parks are unique. >> becoming the biggest profit driver at disney. soon will be bigger than television. stuart: that is extraordinary. >> that ha

is in store for disney's new leader day one on the job. >> that's right. 27-year disney veteran bob chapekig shoes to fill and also big challenges when it comes to the cord cutting trend in disney's shift more toward director consumer streaming and away from the tv bundle. chapek doesn't have experience in streaming and hasn't been involved with disney plus. but he told me his time running the various divisions will help him. >> i have worked in consumer businesses my entire career and it's not ironic that our strategy for the media business now is director consumer business that is my sweet spot and i think something that i could leverage now throughout all my experiences not only at disney but even before. >> reporter: the area where chapek has the most experience, disney parks, is under perhaps the most pressure. the disney shanghai and hong kong parks are both closed due to coronavirus and there are questions about how the virus will impact its cruise ship fleet among other things >> the long term health of our business is really a function of our consumer demand for unbelievable story

he will be replaced as ceo by bob chapek, who, until now, was in charge of disney's amusement parks businessur daily look at some of the newspaper and website stories which have caught our eye. joining me is laura onita, retail correspondent at the telegraph. welcome to you, laura. talking of retail, the sales of music at a real high, 13 year record after a surge in streaming. indeed, so we are seeing this trend of people subscribing to spotty, apple music, increasing, which is what has led to this record sale we have seen. streaming services now account for 80% of these total sales, which is a very, very interesting in how we listen to music these days. there was a real worry when streaming started about what the impact would be financially on the whole industry. indeed. it seems like we reached the point where they have been a recalibration of sorts and we found a way to make money out of it but the one thing we should bear in mind is that in america there will be fewer and fewer people subscribing to these services because they already have a subscription, so we might see another slowdown

. >>> welcome back bob iger has stepped down after years of speculationof his succession bob chapek wille over. iger will stay on as executive chairman to oversee endeavors. he began back in 2005 when the company grew with major pictures with pixar, marvel and more. >> keith block is stepping down from salesforce. shares fell on the back of the announcement salesforce reported a loss of $248 million compared with net income of $262 million the year previous >>> stakes were high as democratic candidates squared off in the last debate private als argue americans would not elect a self-described democratic socialist we have more >> reporter: as the clear front runner, bernie sanders stood center t center stage but from the start, he was attacked. >> can anybody in the room imagine americans voting for him. >> accusing him of proposing plans he can't pay for >> let's do some math. $40 trillion than 30, then 17. >> medicare for all will save money. >> sparing over gun control. >> bernie voted five times against the brady bill >> i'm the only one up here with re receipts while voting over and

bob chapek will assume the role of ceo. jpmorgan chase, they are going political.ank says they will no longer finance coal companies as well as oil and gas developments in the arctic. the pledge similar to one made by goldman sachs in december. what a decision. i should say decisions. a reminder to listen to my reports three times a day coast to coast on the salem radio network. joining us, amy tarkanian, former chair of the snef republican party and mark simone. let's start with the debate tonight. aren't reexcited? >> i hope it was a repeat of the debate in vegas. bernie sanders stands stall, he's the frontrunner. >> i hope nevada was an exception and the rest of the states take heed and don't do a repeat. lou: have they finished the vote count? >> they did. i do believe he won. but it happened in 2016 to him in nevada with hillary. >> much to be learned in the course of this. thoughts about these these caucuses. they are the most ridiculous things to watch. they are a waste of time. they are antithetical to the idea of one person, one vote. >> about 150 people,

so it's a roadblock, but i think the bigger issue for bob chapek is maintaining the momentum across the divisions, most notably streaming and ensuring the collaboration. vonnie: thank you, that's a great analysis from geeta in bloomberg intelligence. guy: and let's talk about company, a ceo spoke exclusively to us earlier. >> we are watching china carefully, it's very important for us. around 200 people in shanghai and beijing day in and day out. is that there is clearly some uncertainty in relation to the movement of people and the supply change. as we are having this , we are looking at a key part of our profits. the product so far as moving with no issues, but we are watching carefully. as you have pointed out already, we know the chinese government will implement -- and you could argue that they are taking some steps at this point in time, we know from past history, a stimulus package could be very intense. >> whitey think you are not seeing any difficulty in shipping to china at the moment? because the economy is not doing as badly as we think it is? or is it because people are sti

bob chapek is the new leader. prior to this he was leading the theme parks division. bob iger said yesterday he is stepping down after 15 years on the job. he will stay through next year as executive chairman. iger says he is embracing his new role with disney and sees the transition as a passing of the torch. >> i'm just as committed to the country with a different title and a different role. more than anything i'm committed to a successful succession process. >> it's an honor and those shoes are very, very big. i saw bob work his magic at disney for 15 years. >> iger added he wants to focus on the creative side of the business now that he's no longer in charge of daily operations and disney is the parent company of abc7 news. >>> now to prince harry's royal return. he is back in the uk this morning for the last time before stepping down before his official role. >> the video shows the duke of sussex in scotland at a conference promoting sustainable tourism. he told everybody just to call him harry. meghan markle will join for a public appearance next month before the

change at the top of disney today, bob iger reportedly he is steg down immediately being replaced by bob chapek. he oversaw the star wars galaxy's edge at the theme parks. mr. iger is staying on as an executive chairman and he is embracing the role. >> i will just as committed to the company with a different role. more than anything i'm committed to a successful successon process and a successful transition. the best thing for me and the company would be for bob to succeed. >> it is nice to have bob iger in your corner. >> bob iger served as disney's ceo for 15 years. he plans on staying on as executive chairman through 2021. disney is the parent coil of abc7. >>> a new classic twist where a loved one calls and asks for money. >> yeah. this is scary. >> the person on the other end of the line is not family. it is a criminal who has managed to clone a voice. >> how bad is this? >> it could get really, really bad. this is horrible. clever criminals re-creating the voices of your loved ones. and they're using those voices to steal money from unsuspecting victims. law enforcement agencies and the f

bob chapek was recently put in charge of parks, experiences, the fancy new businesses that the companysing. he's going to take over. not soon, like now. a little more after this... that's why i like liberty mutual. they get that no two people are alike and customize your car insurance so you only pay for what you need. almost done. what do you think? i don't see it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ that's for sure...hange and when those changes might help more people, especially those in retirement, i think it's worth talking about! so, aag is introducing a new jumbo reverse mortgage loan so you can now access as much as $4 million dollars in cash, tax free, from your home's equity. aag's new jumbo reverse mortgage loan can give you more tax-free cash than ever before. if you've had your home for a while, it's probably worth a lot more today. so why not use that appreciation for anything you need maybe it's some home repairs, or updates to make it more comfortable so you can stay in the place you love. it's a viable effective way to support your other

eisnr's going to retire by about 2 years so there's a transitio >>guy name to get this right on bob chapek chop a fox effect has been in the country 40 years. he ha the company has all the divisions. it should be a great transition cause capping over 2 years with that said i think it's a great mpany for kids and there's no trading costing more shop tie a kid one share of it for christmas and tell him like you vendors you arm and he's not youbody not paid him now he's ying you i like that specially 3 omething commissions all righjeff, thank you as always for the advice keep the questions coing in we'll chat with. >>rob once again tomorrow swer more questionyou can email directly robbr a black dot com find my facebk connect with him on twitter and you can always reach out to m on our website at kron 4. vo: he had already tak the givi pledge to give his money to charity, when this californian walked awayrom his billion dollar company for good. he drives a chevy volt, flies commercial, and spends his days building grassroots campaigns for social and enviroental justice. why? tom steyer belies

and the successful launch of disney plus streamingservice ahead of the parks division bob chapek.ediately be taking over havto deal with the coronavirus and protecting the disney parks, we'll report from 91 mobile shows what it claimsto be a video i was 14 new multitasking feature in action. so instead of the one app ata time that you have and i was 13 this fetures r apps at a time th could be displayed on your screen. now the i was 14 release is probably still 7 moths away apple did cannot confirm any of this by he way and jeff anut butter made a special jar to let you know where it stands on gift versus jeff now there's en debate about how to say the short little online looping videos. nobody can agree on this there is no consensus basically so that e better company sees an opportunity it created a limited run of collectible tongue in cheek. jarsit's a or just to bring i say right on the front. they do custom box and they're ing released ahead of tional peanut butter day live from the nasdaq, i'm janeking all ig, thanks jane can if the creator says it's jeff the creator says it'

he stands down after 15 years and will be replaced by another bob — bob chapek. nment giant‘s history during his time in charge, he oversaw huge changes to disney‘s business. including a number of big takeovers of pixar, marvel and 21st century fox just to name three. i am proud of our effo rts name three. i am proud of our efforts for our employees and cast members around the world. which are about 230,000. i am proud of their compensation, i am about 230,000. i am proud of their compensation, iam proud about 230,000. i am proud of their compensation, i am proud of the benefits that we have bestowed upon them and i am proud of the opportunities we have created for them because there have been huge u pwa rd them because there have been huge upward mobility in our company by the very people that it started at the very people that it started at the bottom and i am one of them and have enabled themselves to not only worked their way up, but to work their way up worked their way up, but to work theirway up and worked their way up, but to work their way up and earn mor

a man bob chapek he will be stepping up to the ceo role. >>> democratic presidential candidate mike bloomberge debate and at the previous debate for his nondisclosure agreements when it comes to sexual harmtment. his company announcing they will have mandatory training programs instituted to prevent harassment, they will have a zero tolerance policy for that. all employees there will be required to complete the program which was initially introduced last year. they are announcing that just ahead of the debate last night. >> why is it always after the fact sometimes with this sort of thing? he is called out on the stage -- >> especially with the me too movement. >> this should have been done years ago. the same thing happened with stop and frisk, he is called out about stop and frisk and apologizes for it after the fact. >> sorry, went on a tangent there. music sales reaching their highest point in more than a decade in 2019. what can you tell us about this? >> so they surged 13% over the course of the last year to $11.1 billion that's sales in the u.s. this is thanks to companies like spotify

>>disney has a new ceo his name is bob chapek and he served most recently as a chairman of disney parks experiences and products, disney's board directors named him as the new ceo today right after boiger abruptly stepped down hug or who has had an amazingly suessful run will remain with walt disneycompany until his contract expires at the end of 2021. he is now the executive chair and director of the company's creative endeavors. iger says now isthe right time for the company to transition to a new ceo. >>babies here from firefighters and paramedics who helped deliver a baby in car. >>plus a debate heating up over what to do with the reservoir in the south bay. why federal regulators sa that reservoir needs to be drained. >>and we've got clear skies now there's a chance we may see a big change in the now, we know the trump strateg try win by attacking, distorting, dividing. mr. president: it. won't. work. newspapers reporbloomberg is the democrat tmp fears most. as president, unersal healthcare that lets people keep their coverage if they like it. a record on jocreation. a doable plan

now the new ceo is bob chapek, chairman of disney's parks and resorts. he's got a near-term channel. parks in shanghai and hong kong have been shut down because of the coronavirus. stock down almost 9% since friday. he'll become only the seventh ceo in disney history. >> really interesting. and it does look like a good job. you're right. christine, thank you. >>> okay. so mike bloomberg fared better in last night's debate compared to his debut. and he's lohoping a major ad bu featuring barack obama will help him gain traction. but the ads are not sit willing with the former vp joe biden. jeff zeleny explains all of this live from south carolina. >> good morning. these are very powerful images played again and again tens of thousands of times featuring former president barack obama praising michael bloomberg. it's not an endorsement, but what is their relationship? aides to the former president tell me, it's complicated. >> it's good to see you. >> reporter: barack obama is staying on the sidelines of the democratic primary fight. though you might not kno

his successor bob chapek says he has big shoes to fill. >> i've had the opportunity to watch bob workis magic at disney now 15 years. i have plenty of awe in terms of recognizing what he's done, what he's accomplished. >> reporter: after 45 years at the company, iger still looking ahead. >> no, i don't think i'm going to look back at all. my new role will be a full-time job, and i have a lot to do. >> it must feel pretty powerful to have someone like that in your corner. >> it's nice to have bob iger in your corner. >> reporter: disney is the parent company of abc news. bob iger will remain executive chairman of the board until 2021 to oversee this process. he said he'll still be waking up at 4:15 every morning to get his job done. kayna whitworth, abc news, burbank, california. >> which is likely why mr. iger's a fan of "world news now." we know he enjoys this show. so good morning, mr. iger. he's pushed back his retirement several times over the years. and so we're thankful for that. congratulations to our parent company. >>> coming up, an inside look at some of america's most elite

bob iger steps aside handing the reins to bob chapek.tinto warns coronavirus could create uncertainty, we speak to ceo later this morning. this is bloomberg. ♪ nejra: this is bloomberg surveillance. let's get the business flash in new york. >> delays for the london stock exchange purchase according to the financial times. it's facing deeper than expected scrutiny from brussels. a form a notification of the deal has been postponed. financiald to by the data provider for about $27 billion. bloomberg lp competes with rif and native to provide financial data. notice chevron is asking traders at its canary wharf office to work from home. bloomberg has learned to taper caution after an employee was tested for coronavirus. coronavirus has not been confirmed. chevron saying it's closely monitoring the situation. the u.k. has 13 cases of coronavirus. we end with jp morgan -- jamie dimon. he is looking aggressively at acquisitions. he said he could buy anything that's not another u.s. bank. the wall street giant has a greater appetite to deal than

alix: disney-plus ceo bob iger is handing over the reins to bob chapek. >> the timing was of the prizee marketplace as bob was stepping down later this year, or into 2021, after the streaming businesses had been more established. throughger will stay 2021. >> bernie sanders. alix: senator bernie sanders took the heat in last night's democratic debate, as a solid five front runner. >> senator bernie sanders projecting momentum, and his campaign laying the groundwork as to whether he could get the delegates needed to clinch the nomination. alix: most of the candidates spent more time focusing on michael bloomberg as he spent billions on advertising -- millions on advertising. s&p failed..s. futures up .2%. the safe haven bid is a dollar. sellingseeing a little on the 10 year yield. it feels like investors are like, we don't want any more low yields. will others comply? katie koch joined skiing. -- joins me. we are going to go near term, but there is no shortage of things to talk about. alix: yesterday, we were to percent plus away from a correction. what do you tell your clients? >> the

iger is set to be replaced by bob chapek.ry to hear this news, though. i was really sorry. he's such a great human being and has such a great track record. >> they knew there was a potential that he might step down at some point. >> the effective immediately part is what surprised everybody. >> yes. >> disney has become the box office behemoth. they made $13 billion last year. >> he made a lot of people wealthy with the rise of disney's stock and so, yeah, it's going to be a sad time to see him go but a lot of people believe the company is in good hands. >>> all right, this story, because it's happened to so many people. one porch pirate did not score the getaway she had hoped for. so let's roll this tape. this woman was caught on a doorbell camera walking up to a house in canada. she pauses before bending down pto pick up the package. before she set foot on the street, unmarked police cars pulled up -- tony is clapping. those are unmarked police cars that roll up to the street. officers ordered the woman to get to the ground

insiders told me iger's presence of executive chair is why bob chapek could be chosen.sked media analyst rich greenfield why iger is making the move now? he had a very brass tacks take. listen the parks are ace tag a massive global crisis. studio faces a tough comparison. headwinds against espn are accelerating. maybe the best is behind, it is easier if bob iger steps out now. what i will say for people a little bit more optimistic on the future, disney's future. chapek is known as a really good operator. he ran the parks. he ran consumer products. he ran studio content distribution. on paper in some ways if you look at his cv he is more prepared arguably than iger was back in 2005 when he was named ceo. when i spoke with bob iger earlier this spring, neil, i spoke with him about this transition from the legacy to the streaming. he said that is clearly the most important part of the business. i want to leave off on a quick note, if you bought the stock when bob iger took over in 2005, you made better than 400% on your money. neil, back to you. neil: yet all the people,

stepping down effective immediately and will assume the role of executive chairman disney naming bob chapek been chairman of disney parks. >> and here's wall street's reaction to the change they say while chapek has very big shoes to fill, we believe he is the right man for the group citi said investors may see today's a nountmeannouncement and the fact that bob iger believes it's a full-time job to sort out the assets could say it's a bigger mess than we thought. either way, massive story. it took us all by surprise when it hit yesterday i get all the coverage throughout the day, david clearly saying that he spoke to them and doesn't want to be ceo anymore. still slightly confusing, not in sync with earnings on a day when you're down 1,000 points over two days. >> you're a sharld holder, right, josh? >> i am a shareholder. part of me feels like i'm making this up now because they made the announcement but i listened to him talk with bill simmons on the podcast, which millions of people did, and i think everyone that listened to that might have come away thinking this guy is really talking

replaced by bob chapek he's been there a long time. head of the global parks unlike nbc universal he's not a content guy he's a parks guy we think of it differently at comcast. parks are important but it is a secondary thing. >> i would argue both nbc universal and disney have been very good as coordinating those parks. they are very much tied in >> are you surprised the parks guy will run the entire thing? >> yes >> he will report directly to iger who will stay on. he will report to iger and the board. so his contract goes through the end of 2021. he had been ceo over 15 years overseeing tremendous growth with acquisitions of pix ar, fox, lucas film. in an exclusive interview, iger explained his decision >> we looked at the businesses and felt we have a great set of assets and strategy. what is next for my own strategy is making sure the creative pipe lynn is really rich and our creative engines are working extremely well i wanted to spend more of my time on that >> i'm not sure i want to be ceo during coronavirus either of a theme pa

bob iger is stepping aside, handing the reins to theme park chief bobchapec. he will take over immediately as head of the world's biggest entertainment company. chapekwe have someone who not only knows the company very well, having run important businesses including parks and resorts, but he's also someone we know very well. >> i intend to double down on the strategies bob has established 15 years ago that served us so well. the thing i've have taken away from bob iger's legacy is get the content right and everything else follow suit. say ifjust too soon to the coronavirus will material hit the u.s. economy according to the fed vice chair richard clarida, the latest signal officials won't push to judgment on the need to cut rates. richard clarida says the virus is likely to have "a noticeable impact on chinese growth," at least in the first quarter. nejra: london spot -- stock exchange cash purchase is facing delays due to deeper than expected scrutiny by regulators in brussels. a full notification of the deal has been postponed. they agreed to buy the financial data provider last year. bloomberg lp, the parent of bloomberg news, competes to provide