Disney CEO Bob Iger publicly expressed his dismay at the performance of the company under the tenure of his predecessor, Bob Chapek. Speaking at the New York Times’ DealBook Summit, Iger stated that he was disappointed with what he observed during the transition period and while he was away. He mentioned that he had worked hard to distance himself from the situation. Iger also mentioned that Disney’s CEO succession planning process is currently robust, and he confirmed that he will step down as chief executive when his contract expires at the end of 2026.
Since returning to Disney, Iger has been addressing various challenges and problems within the company. He acknowledged that some of these issues were a result of decisions made by his predecessor, while others were due to disruptions in the world and the business landscape. At the DealBook Summit, Iger was asked about Disney’s decision to pull ad spending from X (formerly Twitter) after owner Elon Musk made controversial comments. Iger stated that Disney concluded its association with Musk and X/Twitter was not necessarily positive for the company.
Iger also addressed reports suggesting that Disney was considering selling its linear TV businesses. He denied these claims but mentioned that the company constantly evaluates the value of these businesses. During a town hall meeting with Disney staff, Iger emphasized the importance of migrating the linear TV businesses onto the new streaming business model. He highlighted the efforts of Dana Walden, co-chair of Disney Entertainment, and ESPN chief Jimmy Pitaro in making these businesses more efficient.
Bob Iger served as Disney CEO from 2005 to 2020 and returned as interim chief executive after the departure of Bob Chapek in November 2022. Upon his return, Iger dismantled the Disney Media & Entertainment Distribution division, which had separated content distribution and monetization from production units. Iger implemented a cost-cutting plan at Disney, resulting in the elimination of over 8,000 jobs this year. He emphasized the challenges he faced upon his return but expressed satisfaction with his decision to come back.