Why Bob Iger Says He Needs to Step Down as Disney CEO

”I should be spending as much time as possible on the creative aspects,“ Iger says

A seismic shock reverberated throughout Hollywood on Tuesday that even the Avengers would be hard-pressed to contain. Bob Iger, after 15 years and a few delayed retirements, finally gave up the keys to the Magic Kingdom.

Bob Chapek, who has overseen the company’s lucrative parks and consumer products division, is inheriting Mickey’s Castle, which finally sets in motion the company’s long-awaited succession. But why now, with his contract not up until the end of 2021, was this the right time to make the move? Iger told analysts that Tuesday’s decision has everything to do with his desire to ensure Disney remains the top creative outlet before he heads out the door for good when his contract expires at the end of 2021.

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Tim Baysinger

TV reporter • tim.baysinger@thewrap.com • Twitter: @tim_bays