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Disney CEO, Bob Iger attends the European film premiere of ‘Star Wars: The Rise of Skywalker’ at Cineworld Leicester Square on 18 December, 2019 in London, England.
Wiktor Szymanowicz | Future Publishing | Getty Images
Disney CEO Bob Iger appeared on CNBC’s “Squawk on the Street” Thursday following the company’s announcement it would cut 7,000 jobs and slash $5.5 billion in costs as part of a larger reorganization.
Iger, who returned to Disney’s helm in November, said Thursday he had no plans to stay longer than two years in his post.
“Well, my plan is to stay here for two years, that’s what my contract says, that was my agreement with the board, and that is my preference,” Iger said.
Iger acknowledged that he has a lot to do in his short period of time, in addition to helping the board “succeed at succession.” The board ousted Bob Chapek last year, Iger’s handpicked successor.
On the top of the list is Disney’s streaming strategy and making the business profitable, Iger said Thursday.
Shares of Disney rose in premarket trading following the Wednesday announcement and the company’s earnings report.
This is breaking news. Check back for updates.
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