Bob Iger Says He Has No Current Plans to Continue as Disney CEO Beyond 2018

Bob Iger
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Disney CEO Bob Iger said he currently doesn’t have “any plans” to extend his contract beyond its June 2018 expiration date, despite the departure last month of his heir apparent.

Iger made the comment Tuesday in response to a question during an earnings call with analysts.

“The board is very involved in the succession process as it has been for some time and it believes it has ample time to identify a successor,” Iger said.

The question of who next will lead the world’s most successful entertainment conglomerate has been an open one since last month, when the chief operating officer Tom Staggs abruptly announced his departure from the company, after the board expressed a lack of confidence in his ability to lead Disney.

The move, and the lack of an obvious successor to Iger, has led to wide speculation that the 65-year-old executive would extend his contract beyond 2018. “I don’t currently have any plans to extend beyond the current expiration rate of June of 2018,” Iger said, in response to a question by analyst Anthony DiClemente of Nomura Securities.

Iger called Staggs “a friend of mine and many others at the company” and said he was “sorry at what came to pass” but didn’t have any additional comments about the change.