Disney CEO Bob Iger is expecting to retire by 2021. During Disney’s investor day meeting yesterday, Iger stated that “I’m expecting my contract to expire at the end of 2021.” While Iger has extended his contract twice already, there were previous rumors of him stepping down from his position. According to CNBC, Iger’s current stint was held because of the potential Fox merger. Since Disney has now completed its acquisition of the company, Iger will finish out his current contract before retiring in a few years.
“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 told investors. “I’ve been engaged with the board for quite some time and there’s discussion about a succession and they’ve been engaged in a succession process. 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.”
While many have not been happy with Iger’s tenure at Disney, it’s hard to deny the financial success he brought to the company. With the acquisitions of Marvel and Fox under his belt, he’ll likely go down as one of the most influential leaders in Disney history. I don’t have any personal attachment to him, but I’m happy he’ll be able to leave on his own terms (unlike their last CEO).