Disney’s CEO Bob Iger has had a long run with the company. He first took over after former CEO Michael Eisner left the company in September of 2005 and held this position until the end of his contract in February of 2020. Bob Iger selected Bob Capek as his successor and served as Disney’s executive chairman until retiring in December of 2021.
That didn’t last long, as Bob Capek was terminated last November and Disney passed the job back to Bob Iger along with a two-year contract said to be worth at least $27 million annually. Shortly into this contract, Bob Iger announced plans to leave and that looking for a new successor was a main priority.
“Succession is pretty much at the top of the list between me and the Board,” said Bob Iger as reporteed earlier this year by Inside The Magic. “Not only is it an important decision but that [they] don’t have an endless amount of time to make it.”
Now, it appears Bob Iger might not be going anywhere for longer than origionally planned. Finding a new CEO hasn’t been fruitful so far. Whoever does take the role will need a lot of overlap between when they come on board and Bob Iger’s departure to properly learn the intricate duties of the position. With just over one year left on his contract, Disney is running out of time to make a decision.
In a tweet posted yesterday by Charles Gasparino:
“People close to Disney tell FoxBusiness [Bob Iger] is likely to seek a contract extension beyond his current one (expiring in Dec 2024) as the company giant faces hurdles in finding a successor.”
There’s no word yet on who will take over as Disney’s new CEO nor a new timeline outlining Bob Iger’s postponed departure from the company. Check back with Cord Cutters News as more information is announced.