Disney CEO Bob Iger sat down and talked about business strategy, his predecessor, and why he hopes to leave the company.
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After leading an impressive Q1 earnings call, Walt Disney Company CEO Bob Iger answered a few questions in an interview with CNBC Thursday morning. Iger was asked about his successor, Bob Chapek, who was also his predecessor, with Iger stepping back into the role of CEO after Chapek was removed from the company.
Iger was also asked about Disney’s streaming services and the possibility of selling Hulu entirely. While Disney Plus has been a huge hit, it’s yet to make a profit for the Walt Disney Company, with the streaming service actually losing a significant number of subscribers recently.
Iger also revealed plans to cut Disney’s workforce by seven thousand jobs, a bombshell that will no doubt look quite unforgivable when looking at Disney’s overall profits. These jobs are not expected to affect Cast Members working at Disney Parks like Magic Kingdom or Disney’s Hollywood Studios.
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Iger also commented on his plans to leave Disney, “Well, my plan is to stay here for two years, that’s what my contract says, that was my agreement with the board, and that is my preference.”
Iger served as Walt Disney Company CEO for decades before being succeeded by Bob Chapek. Chapek’s time was short, spanning from 2020 to 2022. After Chapek was out at Disney, Bob Iger came back and signed a deal allowing him to be CEO until the end of 2024, at which time a new executive would be chosen to lead the company.
As for who will replace Bob Iger, only time will tell. In the last few months alone, there have been numerous shakeups and internal battles within the Walt Disney Company, making it anyone’s guess who will make it to the top once Iger’s time comes to a close.
As always, check back here at Inside the Magic for all updates at the Walt Disney World Resort, Disneyland Resort, Disneyland Paris Resort, Tokyo Disney Resort, Shanghai Disney Resort, and Hong Kong Disney Resort.
Do you prefer Bob Iger as Disney CEO? What did you think about Bob Chapek? Let Inside the Magic know in the comments below!