Bob Iger, CEO of The Walt Disney Company (NYSE:DIS), confirmed at the New York Times Dealbook Conference that he will retire when his contract concludes in 2026 and stated that the ABC broadcast network is not for sale.
Iger, who returned as CEO in November 2022 after a brief retirement, has extended his tenure until 2026 to restructure the media giant. He expressed optimism about the expansion of Shanghai Disneyland in the near future.
Disney's board is actively searching for Iger's successor. The company recently announced the appointment of Morgan Stanley (NYSE:MS) CEO James Gorman and former Sky chief executive Jeremy Darroch as new directors, with Gorman joining the succession planning committee.
Under Iger's leadership, Disney has undergone significant restructuring and is on track to achieve over US$5 billion in cost savings. Despite challenges in the linear television sector and a shift towards streaming, Iger reaffirmed that ABC remains integral to Disney's portfolio.
He also reflected on Disney's strategy in the movie industry, acknowledging an overemphasis on sequels and the strain on Marvel Studios due to high content demands for Disney+.