Bob Iger steps down from Disney as CEO. An icon and an inspiration has left the CEO ranks with the announcement by The Walt Disney Company that Bob Iger has stepped down as CEO. He will remain as Executive Chairman until his contract expires at the end of 2021. Iger started with ABC in 1974, served as president of the network when it was acquired by Disney in 1996 and became CEO of Disney in 2005.
As CEO, Iger had a spectacular run at Disney. Inheriting the wreck of a company after the Michael Eisner era, he repaired relations, took bold risks and ultimately re-created Disney into the entertainment powerhouse that it is today. Wall Street loved Bob Iger and valued Disney at nearly $230 billion. During his tenure, the stock of Disney increased 492%.
Iger steered Disney far beyond what Walt himself might have imagined. He was not afraid to take risks and push the envelope.Through a successful series of bold initiatives and acquisitions, he transformed Disney from a near has-been into an entertainment standard. He acquired Pixar Animation. He acquired Marvel Entertainment. He acquired Lucasfilm. And with the recent launch of Disney+, he took on Netflix in streaming services.
Bob Iger steps down as CEO. Does this mean he will run for President? It’s unlikely. Even though Oprah Winfrey said he was “the man I wish were running for President.” During the last decade Iger extended his contract four times. At 69, we can expect him to focus on the creative side of Disney which is his first love
Bob Iger stands above his impressive accomplishments as an example of what all CEOs should strive to achieve. Taking bold initiatives, doing the right thing, repairing relationships and having the vision of a “Lighthouse CEO” to guide Disney back and chart its future course.