Disney CEO Bob Iger Bids Farewell: “I Believe Deeply In This Company’s Future”

Bob Iger Michael Reaves/Getty Images

Bob Iger bid farewell to Disney Wednesday, as he handed over the reins to new CEO Josh D’Amaro.

At the Disney Annual Shareholder meeting, after a video montage showing Iger’s decades at the company, including his early career at ABC, Iger reflected on his tenure, particularly on his surprise return as CEO in 2022, as well as what he says was the “lost confidence” employees had in the company after Bob Chapek’s brief tenure as CEO. He expressed more confidence, however, in the new leadership.

“When I returned in 2022, people had lost confidence in the company they worked for. Today, everywhere I turn, I sense confidence and excitement about what lies ahead,” Iger said. “So as I step away, I do so with enormous gratitude and real optimism. I believe deeply in this company’s future, because I believe in Josh D’Amaro and the people who will help him shape it next. Josh is a wonderful choice to lead the Walt Disney Company. He has passion for our businesses and brands, respect for our people, and he appreciates what makes this company so unique, and Dana Walden will play a vital role focusing on our most critical endeavor, creativity.”

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He went on to further emphasize one of his key tenants as CEO, particularly in the second part of his tenure, as he worked to restore the creative engines of the company, after Chapek had reorganized the company so that decisions about TV and film budgets, finances, marketing and distribution were made by a separate division under Kareem Daniel, rather than by creatives themselves.

He also spoke vaguely to the “challenges” the company has faced when he returned in 2022, which included making Disney+ into a profitable streaming site and possible centerpoint for the company, as well as battling activist investors over his growth plans for the company.

“Over the years, we experienced extraordinary change and faced real challenges that was particularly profound in the last three years. It was daunting at times, but through it all, what sustained me was the passion I saw every day from great storytellers, innovators, leaders and people around the world who care so deeply about what they do and want to just get it right. That commitment, resilience, passion and heart would make this company what it is,” he said.

After Tuesday, Iger will stay on with Disney as a special adviser and member of Disney’s board of directors until the end of 2026. But he underlined that Monday was the end of his tenure as CEO (for real, this time).

“As I mark my last day as CEO of our wonderful company, I want to thank all of you for making these last three years so productive and gratifying. It’s also the end of a 52 year journey that began in 1974 and has spanned almost three quarters of my life,” Iger said. “I never dreamed I would end up as CEO of The Walt Disney Company, and I certainly never expected to step into the role a second time, but once I did, I was quickly reminded of the tremendous responsibility that being entrusted with something very special bears.”

The outgoing CEO added, “What I couldn’t have fully known then was just how meaningful this journey would become because of the people, the creativity and the shared belief in what this company stands for and what we have all accomplished, particularly during this second time around.”