LOS ANGELES: Walt Disney Chief Executive Bob Iger said he would "definitely" step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale.
In a wide-ranging interview at the New York Times Dealbook Conference, Iger also said he was "bullish" on the prospects for Shanghai Disneyland and he expected the company would expand the theme park "relatively soon."
Iger, 72, returned to Disney as CEO in November 2022, less than a year after he retired, to revamp the media company after the board ousted his hand-picked successor, Bob Chapek. Iger had planned to stay for two years but agreed to extend his stay through 2026.
Disney's board is undertaking a "robust" search for a successor, Iger said, adding that he was "definitely going to step down" at the end of his current contract.
After Iger spoke, Disney's board announced it had appointed
Morgan Stanley CEO James P. Gorman and Jeremy Darroch, former group chief executive of Sky, as new directors starting early next year.
Gorman will serve on the succession planning committee, the board said in a statement, and Darroch on the audit committee. Current director Francis deSouza will not stand for re-election at Disney's next annual meeting, the statement said.
Since his return, Iger has restructured the company and streamlined operations to make the business more cost effective. It is on track to exceed the $5 billion in cost savings it promised investors in February.
Disney's ABC unit is not up for sale, Iger said, as the company deals with a decline in linear television with viewers' shift toward streaming. Iger had said earlier this year that networks such as ABC may not be "core" to Disney going forward.
In the movie business, Iger said the company had made too many sequels and had made a "mistake" by asking Marvel Studios to provide so many series for the Disney+ streaming service.
"Quantity, in our case, limited quality and Marvel suffered greatly from it," Iger said.
Iger acknowledged that the issues facing Disney were "much more challenging than I expected," but added: "I'm not daunted by it. It's just a lot more work."
He also addressed Disney's decision last week to pause advertising on social media platform X after owner Elon Musk endorsed an antisemitic conspiracy theory.
Disney felt the association with X following Musk's move "was not a positive one for us," Iger said, adding that units such as ABC News and ESPN were permitted to use the platform to communicate even though advertising was halted.
Shares of Disney closed nearly unchanged at $92.44 on the New York Stock Exchange.
Reuters
Fri Dec 01 2023
Disney's board is undertaking a "robust" search for a successor, Walt Disney Chief Executive Bob Iger said, adding that he was "definitely going to step down" at the end of his current contract. - REUTERS/Filepic
Cef ternama Singapura, Tariq Helou meninggal dunia pada usia 29 tahun
Pemergian cef Helou mengejutkan seluruh komuniti kulinari di Singapura.
EPL: Man United sama hebat dengan skuad tercorot liga
Penjaga gol Manchester United, Andre Onana menjadi punca buat pasukannya kehilangan kemenangan menentang Burnley.
Pedofilia MRSM Tumpat: Polis selesai panggil 14 individu
Polis selesai memanggil 14 individu untuk dirakam keterangan berhubung kes pedofilia melibatkan seorang guru di Maktab Rendah Sains Mara (MRSM) di Tumpat.
PRK Kuala Kubu Baharu: Pengundi tentukan kemenangan, bukan Tun M - Azmin
Kemenangan DAP dalam PRK Kuala Kubu Baharu hanya akan ditentukan oleh pengundi dan bukannya bekas Perdana Menteri, Tun Dr Mahathir Mohamad.
PRK Kuala Kubu Baharu: Calon PN sah miliki Sarjana Eksekutif UMPSA
Calon Perikatan Nasional (PN), Khairul Azhari Saut, 54, disahkan memiliki Sarjana Eksekutif Pengurusan Perniagaan dari Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA).
PRK Kuala Kubu Baharu: Calon PN tunjuk bukti kelayakan akademik
Calon Perikatan Nasional (PN) bagi Pilihan Raya Kecil (PRK) Kuala Kubu Baharu, Khairul Azhari Saut menunjukkan bukti berkaitan kelayakan akademiknya bagi menjawab isu berkenaan.
Enakmen kawalan hiburan baharu, Kelantan yakin tidak bercanggah
Kerajaan Kelantan yakin proses penggubalan Enakmen Kawalan Hiburan baharu Kelantan yang akan dibentang pada sidang Dewan Undangan Negeri (DUN) selepas ini tidak bercanggah dengan aturan sedia ada.
Misi teroka peluang ekonomi, tarik pelaburan baharu di WEF - PM
Delegasi Malaysia akan berkongsi dasar dan hala tuju negara di samping mempertegas pendirian negara dalam isu geopolitik serantau di hadapan pemimpin dunia.
JBPM Terengganu berdepan kesukaran padam kebakaran
JBPM Terengganu menghadapi kesukaran memadamkan kebakaran di Kampung Sungai Ikan Kuala Nerus yang melibatkan lebih 75% tapak pelupusan sampah
Polis jangka laporan baharu selepas berkas guru tahfiz
Polis Kelantan menjangkakan lebih banyak laporan polis berkenaan pencabulan di sebuah pusat tahfiz di Machang selepas penahanan seorang guru.
Disney labur AS$1.5 bilion dalam Epic Games, IP muncul di ekosistem Fortnite
Kesemua IP popular Disney, Pixar, Marvel, Star Wars, Avatar dan banyak lagi akan boleh diakses menerusi dunia hiburan ini.
Disney+ mula halang perkongsian kata laluan di AS
Disney Mula Menghalang Perkongsian Kata Laluan Di Amerika
Netflix akan tamatkan pelan 'Basic' tanpa iklan di beberapa negara
Ia akan dilakukan di Kanada terlebih dahulu sebelum turut akan ke Amerika Syarikat dan UK pada Q2 2024.
Disney 'hilang' hak cipta Mickey Mouse
Hak cipta bagi versi awal watak itu tamat selepas 95 tahun sepertimana mengikut undang-undang di AS.
'The Little Mermaid' ungguli carta pecah panggung di Amerika Utara
Filem The Little Mermaid mendahului carta jualan tiket pecah panggung di benua Amerika Utara dengan anggaran jualan dalam masa tiga hari pada hujung mencecah AS$95.5 juta.
Ini 4 sebab kenapa anda perlu tonton filem The Little Mermaid
The Little Mermaid. Sebuah kisah dongeng yang mengangkat kecintaan si duyung bernama Ariel terhadap kehidupan manusia di darat.
Disney Plus rancang kurangkan kandungan, jual lebih banyak iklan dan tingkatkan yuran langganan
Untuk mengurangkan kos, Disney merancang untuk mengurangkan beberapa kandungan sedia ada pada perkhidmatan penstriman.
Berita antarabangsa pilihan sepanjang hari ini
Antara pelbagai berita luar negara yang disiarkan di Astro AWANI, berikut adalah antara yang paling menjadi tumpuan sepanjang hari ini.
Disney tamatkan perkhidmatan 7,000 pekerja minggu ini
Gergasi hiburan Amerika Syarikat (AS) Walt Disney akan mula mengeluarkan notis pemberhentian untuk lebih 7,000 kakitangan minggu ini, lapor Xinhua yang memetik Variety, pada Isnin.
Disney umum buang 7,000 pekerja
SYARIKAT Walt Disney mengumumkan penstrukturan semula secara menyeluruh dengan memberhentikan 7,000 pekerja di bawah pengurusan Ketua Pegawai Eksekutif, Bob Iger.