Disney’s new President Robert Iger has been put in charge of the company that runs BC and ESPN television networks, movie studios, a consumer products division and theme parks in the US and abroad.

Iger, less prominent than the former Chief Executive Michael Eisner, is viewed with hope by many analysts as he is expected to “push responsibility down into the organization," according to Laura Martin of Soleil/Media Metricsand, and rebuild the corporate culture.

One of the greatest challenges posed before the new president is the relationship with Pixar, an animation studio that has been making one blockbuster after another while Disney has been lagging behind. The contract on the distribution of Pixar’s movies expires this year with the production of “Cats”, and it is up to Disney’s management to renew it.

Michael Eisner yesterday announced his departure as Walt Disney chief executive to be replaced by Robert Iger, former director of the ABC network. On Sunday Disney’s chairman, George Mitchell, said that Iger will take the post on Sept. 30.

The departure ends three decades of Eisner’s reign as Walt Disney head.

In a letter to the company’s board, Mr Eisner said: "As much as I have loved nearly every minute of my tenure, two decades is enough time to spend as a chief executive of one company."

Mr. Eisner reminded in the message of the fifteen-fold rise in revenue of the company under his leadership, and a surge in profits to $2.3 billion from $98 million.

Roy Disney, nephew of the company’s founder, said that Mr Iger’s selection had followed a "lengthy, thorough and professional selection process" that started in September.

Another choice that was contemplated was Meg Whitman, the head of eBay, but she refused to accept the job over the weekend.

Iger is widely regarded as Eisner’s candidate, and has faced opposition from Roy Disney and another rebel shareholder, Robert Gold.