On his last day as Disney CEO, Bob Iger reflected on his 52-year run at the company and said he’ll be “cheering on” successor Josh D’Amaro, President Dana Walden and other colleagues.
“When I returned in 2022, people had lost confidence in the company they worked for,” Iger said in a pre-recorded video shown toward the beginning of Wednesday’s annual shareholder meeting. “Today, everywhere I turn, I sense confidence and excitement about what lies ahead. 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.”
D’Amaro was officially picked last month after a lengthy and highly scrutinized succession process led by Disney Chairman James Gorman. Walden was named president and chief creative officer. Iger’s reference to the morale-boosting aspect of his second tenure connects to his own ill-fated selection of Bob Chapek to succeed him in 2020.
“I’ve always believed that leaders don’t create the magic,” Iger said. “The people who work for and with the leaders do. And my greatest privilege has been supporting that talent, listening, learning, and doing everything that I could to nurture the creative spirit and protect the values that define this place.”
D’Amaro, a longtime Disney veteran who had been running the Experiences division, “is a wonderful choice to lead the Walt Disney Company,” Iger said. “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. I will be cheering on Josh, Dana, and all of you, as I sail off into the sunset.”
Iger will stay on as an adviser and board member until the end of 2026. Beyond that, his plans are still coming into focus, though he and wife Willow Bay in 2024 became majority owners of Angel City FC, a women’s pro soccer team.
A lengthy video reel of Iger’s accomplishments during his two stints as CEO preceded his remarks. It included the famous black-and-white clip of him delivering a TV weather report in Ithaca, NY, a gig that was followed in 1974 by his official arrival at ABC. In all, his time at Disney has taken up nearly three-quarters of his 74 years.
RELATED: Disney’s Debra OConnell Sets Direct Reports, Including Craig Erwich Who Adds 20th TV Oversight
“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,” Iger said. “But once I did, I was quickly reminded of the tremendous responsibility that being entrusted with something very special bears. 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.”
Over the years, Iger continued, “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 will make this company what it is.”
Prior to Iger’s comments, Disney Chairman James Gorman expressed his “deep gratitude” to Iger. “He has led the company to unprecedented business success and he has brilliantly prepared Disney for this moment,” he said.
The video reel was capped by an exchange the exec had with Oprah Winfrey in a 2019 interview. Asked about his advice to others in his position. “Enjoy what you do,” he replied. “Love what you do, because you won’t do it well unless you do.”
English (US) ·