04 Oct 2017
Bob Iger to step down from Disney in 2019: 'This time I mean it'
BY Tom Anstey
Disney chief executive Bob Iger has announced his intention to leave the company in 2019, saying “this time I mean it”, after extending his contract as chief executive earlier this year.
Iger, who was set to leave Disney in June 2018, was initially thought to be being replaced by COO Tom Staggs, but the 25-year Disney veteran’s departure in April 2016 changed that, leaving Iger with no clear successor.
As a result, Iger extended his tenure as Disney’s president and CEO until 2 July 2019, saying at the time that he would be working with the company’s board to “to identify a successor as CEO and ensure a successful transition.”
Speaking at the Vanity Fair New Establishment Summit, Iger told attendees “I am leaving Disney in mid-2019. This time I mean it."
Iger has led Disney since 2005 when he was named president and chief operating officer and later that year being named CEO. In that time he has led massive growth across all of the company’s divisions.
Following the launch of Shanghai Disney in 2016, the company’s parks division has continued to thrive, with most recent earnings showing a 12 per cent revenue increase to nearly US$5bn (€4.17bn, £3.76bn) in the third quarter of 2017.
Commenting on his next steps after leaving Disney, Iger said that he was yet to make a decision on the matter.
"I'll figure it out when I have to figure it out, but it's premature right now,” he said.
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