Bob Iger Confirms Retirement From The Walt Disney Company

Bob Iger has unofficially confirmed his retirement.

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Bob Iger has been an employee of The Walt Disney Company for decades, taking over as CEO in 2005. Iger was the successor to Michael Eisner, a divisive yet crucially important figure in the company’s history. Eisner oversaw Disney during one of its most creative times in history. Under Eisner, the Disney parks received classic rides and attractions like Rock ‘n’ Roller Coaster and the Twilight Zone Tower of Terror at Disney’s Hollywood Studios and Splash Mountain at Magic Kingdom. Of course, Splash Mountain closed down earlier this year at both Disneyland and Walt Disney World, but that’s another story.

When Iger took over, it was obvious he would be employing a very different approach at Disney. Iger supercharged the company’s focus on intellectual property (IP), bringing a new level of synergy we had never seen at the parks. This is where expansions like Pandora – The World of Avatar and Star Wars: Rise of the Resistance originated. However, Iger decided to let go of the reigns in 2019 rather abruptly, leaving Disney with the difficult decision of finding a successor.

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In comes Bob Chapek, a figure who will undoubtedly go down as the most controversial figure in The Walt Disney Company’s history. Chapek also worked at Disney for a long time before becoming CEO in 2020. Almost instantly after stepping into the role of CEO, Bob Chapek was met with the global COVID-19 pandemic, a problem that would’ve challenged Walt Disney himself. Chapek could not have joined this executive role at a worse time, but he persisted.

Along the way, Chapek found himself embroiled in controversy after controversy, whether it be with the decision to raise prices, the introduction of Genie+, or the removal of certain fan-favorite theme park features.

The biggest controversy came in 2022, when The Walt Disney Company, guided by Chapek, publicly denounced Florida’s highly controversial new piece of legislation known as the “Don’t Say Gay” bill. This sent Gov. DeSantis and other conservatives into a frenzy, with DeSantis vowing to make Disney pay. Eventually, the company did, losing its Reedy Creek Improvement District, a special ruling that allowed Disney to act as its own form of small government.

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Bob Iger took back control of The Walt Disney Company in 2021, with this bombshell decision dropping overnight. Chapek had previously extended his contract with a unanimous vote from the board, making this decision rather questionable.

Iger initially signed a short, two-year deal with Disney, planning to hand over the role of CEO once again in 2024. Iger has since expressed that he wants to stay longer, extending his contract until 2026. However, this seems like the actual last year Bob Iger wants to be CEO, as reported in a recent article from CNBC.

“Iger does want to retire at the end of 2026, according to people familiar with his thinking,” states the story. This article details a wide variety of topics and events between Bob Chapek and Bob Iger. Iger has reportedly claimed he has “worked harder in the past nine months than at any time in his career.”

This is not an easy decision for Iger, who stated that he’s worried his reputation will be scarred depending on when and who he picks as a successor. Currently, there is no top choice for the job, but theories suggest that it will be an internal hire. The Walt Disney Company is set to “supercharge” its theme park budgets, meaning whoever takes over will have to love the Disney theme parks greatly, including Disneyland, Walt Disney World, and the vast international collection of parks and resorts.

The Walt Disney Company certainly hasn’t been doing stellar, both relationally and financially, under Iger. Stock prices have crumbled, as has attendance at Disney’s theme parks. Recent films like Indiana Jones and the Dial of Destiny (2023) and Haunted Mansion (2023) proved to be financial disasters for Disney, losing millions of dollars each.

Iger has also found himself in hot water multiple times, most recently due to his comments regarding the Hollywood actor’s and writer’s strike. Iger called the demands of those striking for better pay and against artificial intelligence “ridiculous,” immediately losing a lot of support for his most die-hard fans.

What are your thoughts about Bob Iger? Did you like Bob Chapek?