Bob Iger Announces His Plans to Step Down As CEO

Bob Iger has said he is definitely stepping down from his role as CEO in 2021. During the Disney investor day presentation he made the big announcement.

“I’m expecting my contract to expire at the end of 2021,” Iger said Thursday during Disney’s investor day presentations. “And I was going to say ‘and this time I mean it,’ but I’ve said it before. I’ve been CEO since October of 2005 and as I’ve said many times, there’s a time for everything and 2021 will be the time for me to finally step down.”
Iger has extended his contract with Disney twice during his tenure. Once in 2018 and then through 2021, but it was contingent on the Fox deal closing. Since that merger has wrapped up, Iger will remain with the company as the head executive for the next two years.

”I’ve been engaged with the board for quite some time and there’s a discussion about succession and they’ve been engaged in a succession process, ” Iger said. “And we continue to feel that they will be able to identify my successor on a timely enough basis so this company has a smooth transition.”

Iger has been the chief executive since 2005.

On Wednesday, April 10, Disney Chairman and CEO Bob Iger received the Simon Wiesenthal Center’s Humanitarian Award, the global human rights organization’s highest honor, during its 2019 Tribute Dinner in Beverly Hills, California. The prestigious award was given to Iger in recognition of his longstanding support for the Simon Wiesenthal Center and its educational arm, the Museum of Tolerance, and for the ongoing commitment to cultural diversity, social responsibility and philanthropy that has helped guide him as a leader in the entertainment industry.

“Diversity has always been one of our nation’s greatest strengths, and that includes diversity of thought,” said Iger, as he accepted the award, acknowledging “respectful disagreement” as a vital part of a healthy democracy. “We have to redouble our efforts to promote tolerance and, more importantly, we have to do a better job at practicing it. We need to lead by example, so the generations that follow can see the power of tolerance in action and understand that it’s our saving grace and the hope of humanity.”

Source: CNBC

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