Disney CEO Robert Iger announces retirement day | Eurasia Diary - ednews.net

23 October, Wednesday


Disney CEO Robert Iger announces retirement day

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Disney CEO and Chairman Robert Iger says he's going to step down from his post when his current contract expires in 2021.

Iger became Disney's president and chief operating officer in 2000 and added the CEO title in 2005 after Michael Eisner departed. He became chairman in 2012.

Iger was asked about his future plans Thursday at a Disney investors' event that featured major new details about Disney's upcoming streaming service, Disney+. During a Q&A after the presentation, an investor asked if Iger had anything to say about the possibility of ending his tenure, prefacing his remarks by saying, "We're all expecting your contract is over at the end of 2021."

“I’m expecting my contract to expire at the end of 2021," Iger quipped, before addressing the question. "I’d say, ‘This time I mean it,’ but I’ve said that before. I’ve been CEO since October 2005 and as I’ve said many times, there's a time for everything and 2021 will be time for me to finally step down."

Iger had previously set a target departure date of 2018 but in March 2017, his contract was extended to July 2, 2019. That December it was extended again through the end of 2021.

The 2021 extension was said to be contingent on the $71.3-billion acquisition of 21st Century Fox's movie and TV studios and other assets including Fox's 30% stake in Hulu. The transaction closed in March.

Iger said he's been talking with the Disney board "for quite some time" about picking a successor.

"They’ve been engaged in a succession process and we continue to feel they will be able to identify my successor on a timely enough basis so that this company has a smooth transition,” he said.

During his tenure at Disney, the entertainment giant has expanded its holdings to include Pixar in 2006, the Marvel comics brand in 2009 and Lucasfilm and its Star Wars franchise in 2012. 

 

USA Today

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