Disney CEO Bob Iger To Reportedly Leave His Role Early: What’s Behind The Decision?

• The final timing of his departure from the top job has not yet been determined and could change. 
• The next CEO race is reportedly down to two candidates
• This is Iger’s second stint as the leader of the entertainment giant, who took up the role after its board ousted Bob Chapek in November 2022. 
   

Disney's (DIS) Chief Executive Bob Iger has reportedly told associates that he plans to step down as CEO and pull back from daily management before the Dec. 31 end of his contract. 

The entertainment giant’s board of directors is planning to meet next week at its headquarters in Burbank, Calif., where they are expected to vote on who should take the top job, according to a report from The Wall Street Journal which cited people familiar with the matter.

Iger has told people close to him that he is ready to move on from the grind of being CEO and was frustrated by conflicts at Disney’s ABC network over the brief suspension of late night host Jimmy Kimmel. 

More Details

The CEO has told multiple associates that he would like to spend his time and energy on sailing his new yacht. He said he would also want to spend more time with his family, as per the report. 
The final timing of his departure from the top job has not yet been determined and could change. 

Iger is expected to remain CEO for several months after the company announces who will replace him so that he can mentor the new leader, the report said. Iger could also retain a role on the board of the company. 

CEO Race

The CEO race is reportedly down to two candidates: Experiences chairman Josh D’Amaro who oversees theme parks, consumer products and video games and entertainment co-chairman Dana Walden, a veteran television executive. 

Both candidates had presented their visions for the company’s future to the board in August, The Wall Street Journal had previously reported. 

Second Stint Of Iger

This is Iger’s second stint as the leader of the entertainment giant, who took up the role after its board ousted Bob Chapek in November 2022. 

Iger first stepped down as Disney’s CEO back in 2020, after a 15-year stint. 

How Did Stocktwits Users React?

Retail sentiment around DIS trended in ‘bearish’ territory amid ‘high’ message volume. 

Shares in the company have remained flat over the past 12 months. 

 For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on