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

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Bob Iger

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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Basil of Baker Street1 day ago

Fun Fact. He's ruining the parks AND failing the investors.

flynnibus1 day ago

Well… they could say he’s doing the market focused/motivate moves…. But still failing to achieve market success…

Sir_Cliff2 days ago

I'll never quite understand Disney fans complaining Iger is a soulless, money grubbing executive who puts short-term profits above all else and has thus ruined the parks, then using Wall Street investors as a barometer for whether he's making the right moves. This kind of obsession with stock prices and quarterly earning reports having to grow ever higher for all eternity is far more of a problem than Iger.

TrainsOfDisney2 days ago

The Penguin IS the bartender!!!

networkpro2 days ago

Yep, it wasn't sector wide. Some are doing fine. Some heads admit that they've made mistakes and actually do something to recover like David Zaslav.

Basil of Baker Street2 days ago

Whaaat? Two days? Lets do 10 years Bartender. I'll have what the penguin is having.

MisterPenguin2 days ago

Ya sure it's Disney's fault? ;)

Basil of Baker Street2 days ago

Hey Disney, You're dragging down my total market ETFs

HauntedPirate2 days ago

Nothing wrong with some Arb's. Double roast beef sammich, Arby's sauce, plus a large curly fry. And a Coke Zero.

monothingie2 days ago

Well I did go to Arby's for lunch. So I may have lost more than one thing.

Lilofan2 days ago

Overall market today , yes, but long term investing my monies are far working harder and earning more than I will ever in countless lifetimes!

Sirwalterraleigh2 days ago

Anyone else losing money today?

Trauma2 days ago

With such a horribly mismanaged company it’s hard to set a buy target for this. I guess I would feel comfortable at anything under $70. Company of course has a huge upside if better leadership takes over.