Disney CEO Bob Iger Will Step Down In 2021, He Confirms

Without a doubt, Bob Iger has made one hell of a CEO in his 15-ish years of being on the job at Disney. His era may forever be known as the Acquisition Era. From 2005 to now, he’s successfully acquired incredibly profitable companies like Pixar (in 2006), Marvel Entertainment (in 2009), Lucasfilm (in 2012), and of course, most of 20th Century Fox (in 2019). Between that and the successful rebranding of their core Disney content, they’ve quickly amassed more power than anyone ever thought possible.

Iger was originally supposed to be stepping down in 2018, but it was since extended to 2019, and once again through an indefinite time. Considering some of the big deals going down and the immediate work required afterward, it makes sense they’d want to keep a steady hand on the wheel — but for how long? Now, Iger himself is confirming that he intends to step down in 2021, as he stated in an investors day presentation on Thursday.

“I’m expecting my contract to expire at the end of 2021. 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.”

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”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, ” Iger continued. “And we continue to feel that they will be able to identify my successor on a timely enough basis so this company has smooth transition.”

So we have a good amount of time before he will be stepping down, and if the Fox transition goes smoothly, along with the implementation of Disney+ as a true force to be reckoned with in streaming, he will have cemented his legacy at the House of Mouse.

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SOURCE: CNBC

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