The Walt Disney Co (NYSE:DIS) Chair and former CEO Bob Iger began thinking about stepping down as CEO after feeling he was becoming too dismissive of other people's opinions, CNBC reports.
- Iger, 70, is leaving Disney after running the company from 2005 - 2020.
- Iger stepped down in 2020 as CEO, replaced by Bob Chapek. Iger stayed on as chairman through the pandemic.
- Related Content: Iger Plus: What To Make Of The Disney CEO's Early Departure, Bob Chapek's Accession
- Iger will officially give up his Chair role at the end of 2021. Iger acknowledged Chapek likely would not make the same decisions he would have made as future problems arise.
- Iger also credited the acquisitions of animation studio Pixar, comic book and action hero company Marvel Entertainment and Lucasfilm, home of Star Wars, for turning Disney into an intellectual property behemoth.
- Iger said he spent months personally getting to know Apple Inc (NASDAQ:AAPL) and Pixar founder Steve Jobs, Star Wars creator George Lucas, former Marvel chairman Ike Perlmutter, and Fox Corp (NASDAQ:FOX) (NASDAQ:FOXA) controlling shareholder Rupert Murdoch.
- Iger admitted having convinced the founders that he would not disappoint them after completing an acquisition.
- Price Action: DIS shares traded higher by 2.89% at $150.70 on the last check Tuesday.
