"Bob Iger loves Disney even more than he loves being its CEO. That was the message from Disney board chairman James Gorman on Tuesday, as the company announced that Josh D'Amaro would succeed Iger in the CEO slot. Iger will step down on March 18, more than nine months before his contract expires, to make room for incoming CEO D'Amaro and soon-to-be president Dana Walden."
"Gorman said that Iger had two mandates when he returned to Disney in late 2022: improve the company's financial and strategic positioning while dealing with challenges, and develop talent and leadership to ensure at least another decade of growth. Just over three years later, Iger has made the case that Disney is in much better shape than when he replaced former CEO Bob Chapek - even though Wall Street has been lukewarm about the stock."
Bob Iger will step down as Disney CEO on March 18, more than nine months before his contract expires, and will remain a strategic advisor and board member through the end of the year. Josh D'Amaro will succeed Iger as CEO while Dana Walden will become president. Board chairman James Gorman said Iger developed the necessary leadership talent and chose to step aside to give the company a clean start. Gorman described two mandates for Iger after his return in late 2022: improve Disney's financial and strategic position and develop leadership for sustained growth. Disney shares have risen modestly since his return, and Wall Street reaction has been mixed.
Read at Business Insider
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