The Walt Disney Company named as his replacement Bob Chapek, most recently chairman of Disney Parks, Experiences and Products.
Iger became chief executive of the home of Mickey Mouse in 2005 after a shareholder revolt by Roy E Disney led to the ouster of longtime chief Michael Eisner.
Iger steered Disney through successful acquisitions of Lucasfilms, Marvel, Pixar and other brands that became big moneymakers for Disney.
Disney’s chief executive, Bob Iger, who steered the company through successful purchases of Star Wars, Marvel and Fox’s entertainment businesses, is stepping down immediately, the company said in a surprise announcement on Tuesday.