Gary is a geeky-binge watcher who loves to pen down all that he watches. The night-owl has just got two hobbies, binge-watching all the latest shows and writing everything about them.
On Wednesday, Walt Disney CEO Bob Iger affirmed his intention to step down in 2026 upon the conclusion of his existing contract.
During the New York Times Dealbook Conference, Walt Disney CEO Bob Iger confirmed his upcoming departure in 2026, a decision covered extensively by Reuters, CNBC, and other major media outlets. According to CNBC reporter Alex Sherman, Iger assured that the succession process within Disney is robust.
Rejoining Disney just over a year ago after the departure of his chosen successor, Bob Chapek, Iger faced the challenge of stabilizing the company. However, recent months have seen Disney grappling with various issues, including box office setbacks such as the underwhelming debut of the animated film “Wish” and a lukewarm reception to “The Marvels.” Additionally, activist investor Nelson Peltz’s push for significant improvements has added pressure.
Iger sparked speculation during a July CNBC interview by suggesting that some networks, including ESPN, might not be core to Disney. This prompted discussions about potential deals, with Allen Media Group making an unsolicited bid for ABC Network and its cable channels. Despite this, Iger clarified in a virtual town hall meeting with employees that ABC and ESPN are not up for sale, a sentiment reiterated at the Dealbook conference.
Although Iger emphasized that legacy assets are not for sale, he mentioned ongoing evaluations regarding their alignment with Disney’s strategy, as tweeted by Sherman. Disney is actively pursuing the acquisition of Comcast’s one-third stake in Hulu, opting to take full control after a rigorous assessment process. The company aims to launch an app merging Disney+ and Hulu services as early as next month.