Robert Allen Iger, known as Bob Iger, the former CEO of Walt Disney Co., will continue leading the company through 2026, contrary to previous plans of stepping down next year. This decision follows Disney’s move to bring Iger back as CEO in November 2022, just months after his initial departure.
After Bob Iger stepped down as CEO in February 2020, Disney veteran Bob Chapek assumed the role, while Iger continued as chairman. However, Chapek encountered significant challenges during his tenure, prompting the Disney board to ultimately bring back Iger to lead the company once again.
Originally, Iger was expected to assist in finding a suitable successor, but circumstances led to his continued leadership. Under Iger’s guidance, Disney aims to navigate challenges such as cost-cutting efforts and the changing landscape of TV, including the impact of cord-cutting and declining ad revenue. Despite these difficulties, Disney’s board of directors believes Iger is the right person to guide the company through these tough times.
In response to his extended tenure, Iger stated, “Since my return to Disney just seven months ago, I’ve examined virtually every facet of our businesses to fully understand the tremendous opportunities before us, as well as the challenges we’ve been facing from the broader economic environment and the tectonic shifts in our industry.” He acknowledged the importance of finding a suitable successor and emphasized his commitment to ensuring a successful transition.
Disney has faced difficulties in recent years, with investments in streaming platforms such as Disney+, Hulu, and ESPN+ contributing to losses. Additionally, the global streaming marketplace has softened, impacting traditional linear networks like ESPN and Disney Channel. However, Iger remains optimistic about Disney’s future and believes there is more work to be done to ensure a successful transition for his successor.
