Walt Disney Co. Chief Executive Bob Iger is finally planning his exit from the company.
Speaking at Vanity Fair’s New Establishment Summit on Tuesday, Iger said that he plans to actually step down as CEO of Disney in mid 2019.
“This time I mean it,”
Iger said during the summit. “It’s time.”
There has been speculation that the Disney DIS, -0.27% chief might consider a political career following his departure, but when asked about it he said, “let’s not go there,” according to Variety.
Earlier this year Disney’s board of directors extended Iger’s contract through July 2, 2019. That move came after the man widely expected to succeed him, former Chief Operating Officer Tom Skaggs, left the company after it became clear he would not get the job.
Iger had planned to step down in 2018, but only after an earlier planned exit in 2016 was pushed back. It’s unclear if the company has a suitable internal candidate as successor or will have to look outside.
Iger said that talk last year that Disney was interested in buying Twitter was accurate. Instead, however, the company opted to buy an additional 42% stake in BAMTech, spending $1.58 billion for majority ownership.
Disney now has plans to launch a long-awaited stand alone streaming service for ESPN.