Bob Iger, the returning CEO of The Walt Disney Company, reveals how the search for his replacement will be different than the last time. Iger was Disney’s CEO from 2005 to 2020, at which time his contract expired and he remained on as executive chairman. He officially retired at the end of 2021, with Bob Chapek replacing him as CEO. However, Chapek’s tenure as CEO barely lasted three years, and Bob Iger returned to replace Chapek as CEO in November 2022. It was a stunning reversal, but at some point, Iger will have to step aside once again for a replacement to take his place. He’s now going into detail on what that new CEO search will involve.
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Disney CEO Bob Iger was the focus of the Time100 cover shoot, where he was asked the task of finding Disney’s next CEO. “Well, it’s not only one of my tasks; it’s the primary priority of the board,” Bob Iger told Time. They’re meeting on a regular basis, defining what qualities we’re looking for and what people we might want to consider. Given the events of the last couple of years, it’s not only a priority, but will get more time, more attention, more focus than it did before. We’ve always viewed it as an important decision. But given the fact that I’m not here forever and and we had some difficulties these last couple of years, it’s getting more attention than than it has in the past.”
Disney’s Statement on Bob Iger’s Return as CEO
“We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” Susan Arnold, Chairman of the Board, said in a statement distributed by the company when it announced Bob Iger’s return as CEO. “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.”
“Mr. Iger has the deep respect of Disney’s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide–all of which will allow for a seamless transition of leadership,” she said.
Bob Iger Comments on Hulu’s Future
One of the biggest tests for Disney CEO Bob Iger coming up is what to do about Hulu. Disney owns two-thirds of the streamer with Comcast owning the other third. It turns out, if the rival company decides to push it onto Disney, they would have to oblige because they’d be left with no other choice.
Iger said, “We own about two-thirds of Hulu, and Comcast owns the other piece, and they actually have the right to put their piece to us, in other words, force us to buy them out. If they decide to do that, then we have no choice but to buy them out.”
Photo credit Gilbert Flores/Variety via Getty Image
