BURBANK, Calif. — Walt Disney's Bob Iger has told associates he plans to step down as CEO and pull back from daily management before his contract expires on Dec. 31, The Wall Street Journal reported on Friday, citing people familiar with the matter.
Succession planning at the media conglomerate has been in focus for investors after Disney delayed Iger's retirement several times before bringing him back in 2022 to replace his handpicked successor, Bob Chapek, after the pandemic hobbled its business.
The entertainment giant's board of directors is planning to meet next week at its headquarters in Burbank, California, where they are expected to vote on who should replace Iger, according to the report.
Iger told people close to him in private conversations over the past few months that he is ready to move on from the grind of being CEO and was frustrated by conflicts at Disney's ABC network over the brief suspension of late night host Jimmy Kimmel, the report said, citing people who have spoken with Iger.
The timing of his departure was not final and could change.
Disney declined to comment when contacted by Reuters.
Iger is expected to continue as CEO for several months after the company announces his successor, so that he can mentor the new leader, the report said.
It also said Iger could retain a place on the board and at Disney even after the CEO transition.
Disney's theme-parks chief Josh D'Amaro, entertainment co-heads Dana Walden and Alan Bergman, and ESPN head Jimmy Pitaro are being seen as possible contenders for the CEO position.
