Disney CEO Bob Iger has acknowledged that his comments made in a CNBC interview last year about linear TV assets being potentially non-core to the company were a mistake. In a new interview on the podcast “Let’s Talk Off Camera With Kelly Ripa,” Iger expressed regret over his public remarks, which he believes caused unnecessary anxiety among Disney employees and stakeholders.
“I wasn’t wrong about my observation, but it wasn’t necessary for me to utter those words publicly,” Iger said. “It caused an incredible amount of anxiety. I should have been more sensitive to how those words would be not just interpreted, but how they would be felt by people who are really important to me, who are even Disney legends.”
Iger’s comments came during a period of significant restructuring and cost-cutting at Disney, as the company was reorganizing and planning its strategic future. The remarks, made in July 2023, were intended to signal to Wall Street that the company was open to various business strategies. Iger said he wanted to demonstrate that he was “not in the sand,” but he now views his statement as a misstep.
“I was intent on communicating to Wall Street an open-mindedness about our business in the future,” Iger said. “That was a mistake, it turns out.”
The podcast interview with Kelly Ripa, conducted at ABC’s New York headquarters, covered a range of topics beyond Disney’s strategic decisions. Iger discussed personal preferences, including his favorite cheese—mozzarella—and his music playlist, which features country singer Zach Bryan. When asked about his physical appearance at age 73, Iger mentioned that apart from hip and knee replacements, his good health is largely due to genetics and self-care.
Iger also revisited his previous contemplation of a presidential run in the 2020 race and discussed the current state of Disney’s succession planning. He emphasized that succession is a top priority for him. Iger famously reversed his decision on succession multiple times before appointing Bob Chapek as CEO in February 2020. Chapek’s tenure was short-lived, ending with his ouster in November 2022.
“I am obviously very focused on succession,” Iger said. “To say I am obsessed with it would probably be an understatement.” He added that a key motivation for focusing on succession is his desire to retire again and ensure that Disney is left in capable hands.
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Regarding his time away from Disney, Iger addressed speculation about whether he was bored during his brief hiatus. “It’s been exaggerated by many that I was bored,” he said. “I was not bored at all. I loved not having a mile-long to-do list and not waking up in the middle of the night worried about missing meetings or flights.”
During his time away, Iger said he enjoyed a lack of stress and found the experience luxurious. He emphasized that while he was engaged in stimulating activities, he did not experience the pressures of running a major corporation.
Iger’s current contract with Disney extends through the end of 2026. The company’s succession committee is considering several internal candidates for the CEO role, including Jimmy Pitaro, head of ESPN; Josh D’Amaro, who oversees Disney’s theme parks; and Dana Walden and Alan Bergman, Co-Chairmen of Disney Entertainment.
Reflecting on his accomplishments during his two tenures as CEO—first from 2005 to 2020 and then starting again in 2022—Iger highlighted the $73 billion acquisition of 21st Century Fox. Despite criticism regarding the deal’s cost, which has been a focal point in activist investor Nelson Peltz’s proxy battle, Iger pointed to the success of Disney’s Emmy-nominated content as a key achievement.
“The acquisition brought us FX, which contributed significantly to our Emmy nominations,” Iger said. “Without it, our overall tally of 183 Emmy nominations might have been much lower.”
