(Reuters) -Walt Disney Chief Executive Bob Iger said on Wednesday he “will definitely step down” at the end of 2026.
Iger returned to Disney as CEO in November 2022, less than a year after he retired, vowing to stay for two more years to restore the business while seeking a more durable replacement after the company pushed out Bob Chapek, Iger’s hand-picked successor.
Disney’s ABC News unit is not up for sale, Iger also said at the Dealbook conference on Wednesday, after a year of restructuring efforts as the conglomerate dealt with a shift in focus towards streaming in the media industry.
Disney faces challenges in the streaming video business as it continues to lose money and Iger said in a town hall meeting on Tuesday that the company is poised to begin building the business again.
(Reporting by Zaheer Kachwala in Bengaluru and Lisa Richwine in Los Angeles; Editing by Maju Samuel)
