What you need to know
Executive Bob Iger, who served as CEO of The Walt Disney Company from 2005 to 2020 and returned to the role in November 2022, is reportedly planning to step down this year.
The Wall Street Journal reported on Friday, Jan. 30, citing unnamed sources, that Mr. Iger, 74, has told others that he intends to “step back from day-to-day management” and step down as CEO by the end of his contract, Dec. 31, 2026.
The Journal, citing unnamed sources, reported that Mr. Iger had told “those close to him that he was ready to step away from the CEO job.”
A Disney spokesperson did not immediately respond to PEOPLE’s request for comment.
Back in 2024, Variety reported that Disney said it planned to announce a new CEO to replace Iger by early 2026.
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Mr. Iger was the company’s seventh CEO. He initially took over the position after Michael Eisner retired in 2005.
When Iger first resigned in February 2020, he described the moment as “the perfect time to transition to a new CEO.” Iger served as the company’s chairman until 2021, when his contract with Disney ends.
Mr. Iger was succeeded by Bob Chapek, who previously served as chairman of Disney’s amusement parks. However, on November 21, 2022, Disney announced that Chapek, 66, had resigned and that Iger had been reinstated. When Mr. Iger returned to his post, the company said he had agreed to serve as CEO for only two more years.
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“I am extremely optimistic about the future of this great company and am thrilled to have been asked by the board to return as CEO,” Iger said in a 2022 statement. “Disney and its unparalleled brands and franchises hold a special place in the hearts of so many people around the world, especially our employees, whose dedication to this company and its mission is an inspiration.”
“I am honored to be asked to once again lead this incredible team with a clear mission focused on creative excellence: to inspire generations through unparalleled and bold storytelling,” he added at the time.
