Disney CEO Bob Iger said he will “definitely” step down as CEO of the Walt Disney Company when his contract ends in 2026.
Speaking at the New York Times’ Dealbook conference, Mr. Iger also said the ABC broadcast network was not for sale, appearing to backtrack on previous statements that the idea of a sale was being considered.
Mr. Iger, who spent more than 40 years with the company, including 15 years as CEO, will join the company in November 2022, with a mandate from the board to set strategic direction and work closely together for new growth. He returned as CEO of Disney for two years. After his term, he will work with the board of directors to develop a successor to lead the company. The board of directors extended his contract in July 2023, allowing him to serve as CEO until December 31, 2026.
Disney’s CEO told Cast Members yesterday at a Disney Town Hall. It still feels great to be back and to be back.”
Watch CNBC’s video below with more details on Bob Iger’s comments today.