Bob Iger Plans to Step Down as Disney CEO
Bob Iger, the CEO of Disney, has shared with close associates that he intends to resign before his contract concludes at the end of this year.
The board of directors, led by James Gorman, the former CEO of Morgan Stanley, is slated to convene next week to decide on Iger’s successor. Reports suggest this information comes from a source familiar with the situation.
At 74, Iger has cited frustrations over a dispute at ABC, a Disney-owned network, as part of his reason for leaving. This tension arose following last year’s suspension of late-night host Jimmy Kimmel.
Iger also seems eager to shift focus towards his personal life, including spending time with his wife, Willow Bay, managing his women’s professional soccer team, Angel City FC, and enjoying time on his newly acquired superyacht, Aquarius.
In after-hours trading, Disney’s stock remained steady.
While Disney has been relatively quiet regarding potential replacements for Iger, the leading candidates appear to be Dana Walden, co-chairman of entertainment, and Josh D’Amaro, chairman of the experiences division, which oversees parks and consumer products.
The precise timing of Iger’s exit isn’t fixed yet; he is expected to remain with the company for a few months to assist in the transition for his successor. After stepping down as CEO, there are indications he might take on a role with Disney’s board or within the company itself.
Iger’s exit will mark a significant shift for Disney. His leadership has been pivotal in several major moves for the company, such as acquiring Pixar in 2006, Marvel in 2009, Lucasfilm in 2012, and the film and television assets of 21st Century Fox in 2019.
Iger first took on the role of Disney’s CEO in 2005, leaving in 2020 when Bob Chapek was appointed as his successor. However, after a series of challenges, including conflicts with Iger, Chapek was dismissed by the board in November 2022, prompting Iger’s return to the role.
The Post has reached out to Disney for further information.
