Disney CEO Bob Iger discusses departure plans and the sale of ABC

Nov 29, 2023 in "The Walt Disney Company"

Posted: Wednesday November 29, 2023 4:04pm ET by WDWMAGIC Staff

Disney CEO Bob Iger says he will "definitely" step down as CEO of The Walt Disney Company at the end of his contract in 2026.

Speaking at the New York Times Dealbook Conference, Iger also said that the ABC Broadcast Network is not for sale, appearing to backtrack on previous comments that the idea of a sale was being considered.

Iger, who spent more than four decades at the Company, including 15 years as its CEO, returned to serve as Disney's CEO for two years in November 2022, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company after his term. The board extended his contract in July 2023 to serve as CEO through December 31, 2026

The Disney CEO told Cast Members at a Disney Town Hall yesterday, "I knew that there were a myriad of challenges that I would face coming back. I won't say that it was easy, but I've never second-guessed the decision to come back, and being back still feels great."

Watch the video below from CNBC with more from Bob Iger's comments today.

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lazyboy97o12 days ago

As of now, Universal remains committed to something new every year. It will just now be split between three parks in Orlando instead of two.

Casper Gutman12 days ago

Historically, it’s precisely when you’re building a new park that you want to build in your existing parks to ensure crowds are spread out. This has been true of Disney and Universal.

Indy_UK12 days ago

They have more parks outside of Orlando though. They are building 2 mini parks in the country and are probably going ahead with the UK Universal Studios. They are set on big worldwide expansion

Dranth12 days ago

I get that people are excited for the new park but as of today, what new attractions? USF has 14 attractions currently listed and only 4 of those opened post Diagon Alley which is now turning 10. So, in a decade Comcast replaced Disaster with Fast and Furious, Twister with Jimmy Fallon, Terminator with Bourne, and Sherk with the new Minion shooter. Over in IoA they have 19 attractions currently listed and managed two new capacity rides in VelociCoaster and Kong in that same time period. They also have one replacement with Hagrid's taking over for Dragon Challenge. Yes, they are building a new park which is great and I am excited for it but anyone who thinks Uni isn't going to sit on their backside after this round of expansion, just like they did last time, is wrong exactly because they can't do everything at once and they face the same problems as Disney in a lot of ways. They own a streaming service that lost just under a billion last quarter, a dying cable business, an aging broadcast company that also has to suck it up and pay for sporting rights to have any relevance and on top of all that, twice the debt load. After EU I expect we will see some USF updates as it desperately needs something as terrible as it is right now and then Comcast cuts the capital investment hose off for a while.

flynnibus12 days ago

Dude this is the worst kind of cherry picking... literally the company is finishing out the largest theme park opening in the country in decades... and has a second regional theme park already announced... after opening major additions in both the west coast and international parks with new theme park brands. And you're harping on stuff like the idled Fear Factor theatre?? come on...

Lilofan12 days ago

Adding more to the $100B current debt when Comcast opens up Epic Universe. It is good question for Brian Roberts. Most probably don't have a clue who he is but many know who Iger is.

LSLS12 days ago

I mean, you make the case for not having a lot of faith, but not for having less faith in them than Disney. Multiple WDW parks have less attractions now than they did 15 years ago if memory serves me correctly, and have needed capacity since creation decades ago.

JD8012 days ago

Don't we complain about Disney debt ($50B) but we forget that Comcast is at like $100B? Maybe Uni can get some more rides where you stand on a conveyor belt and they hand you a gun.

Jrb197912 days ago

Your answer they should be doing everything all at once. I understand they can't do that, I won't be complaining about filling out each park "RIGHT ******* NOW. I am happy to have new attractions at the parks. Something your hero Sweater Bob doesn't do

MisterPenguin12 days ago

So... once EU is finished next year, then USO can focus on taking care of all those underused spaces in the other two parks. And while they're doing that, you and others may be itching for EU to fill out it's future-expansion pads. And Universal's response to that might be: "We're working on completing our uncompleted other parks. Maybe you've heard of them?" So, EU's expansion pad will lay dormant for about another 5 years. But good thing you have 'faith in them.'

Jrb197912 days ago

Right now they are but that's due to working on another park at the moment. Maybe you heard of it? What outside of Tiana, Test Track update and Bears does Disney have? A promise of $60 billion.

MisterPenguin12 days ago

Despite the pads and empty attractions in USO lying dormant?

MisterPenguin12 days ago

lazyboy97o12 days ago

The freaking Yoshi ride has a 36” height requirement.