Iger made the announcement in an interview at the New York Times Dealbook Conference, as reported by Forbes.
Disney CEO Bob Iger has confirmed his intention to step down from his position in 2026. This decision comes surprisingly soon after his return to the role from retirement. He also clarified that Disney's ABC unit is not up for sale.
Bob Iger, 72, resumed his role as Disney's CEO in November 2022, less than a year following his retirement. His return aims to rejuvenate the media company. Iger originally planned a two-year tenure but now he has extended his stay until 2026.
He further confirmed that Disney's board is actively looking for a replacement, adding that he will “definitely step down" when the existing contract ends.
He expressed his dissatisfaction regarding Bob Chapek, ex-CEO of Disney ousted by the board. “I was not happy with what I was seeing. I worked hard to build the company into what it was over a long period of time. I was proud of those accomplishments. It hurts when something that you’ve put your heart and soul into is going through a difficult time”, Iger commented.
Iger addressed Disney’s decision to pull down advertisements from X, formerly known as Twitter, following Elon Musk's endorsement of an antisemitic post. He said, “By him taking the position that he took in quite a public manner, we just felt that the association with that position and Elon Musk and X was not necessarily a positive one for us.”
Before his departure, Iger dedicated over five decades to the entertainment giant, serving as a CEO from 2005 to 2020.