Disney's Bob Iger To Retire In 2021

Bob Iger with Mickey

Disney CEO and Chairman Robert Iger says he's going to step down from his post when his current contract expires in 2021, reports USAToday.

Iger became Disney's president and chief operating officer in 2000 and added the CEO title in 2005 after Michael Eisner departed. He became chairman in 2012.

Iger was asked about his future plans Thursday at a Disney investors' event that featured major new details about Disney's upcoming streaming service, Disney+. During a Q&A after the presentation, an investor asked if Iger had anything to say about the possibility of ending his tenure, prefacing his remarks by saying, "We're all expecting your contract is over at the end of 2021."

“I’m expecting my contract to expire at the end of 2021," Iger quipped, before addressing the question. "I’d say, ‘This time I mean it,’ but I’ve said that before. I’ve been CEO since October 2005 and as I’ve said many times, there's a time for everything and 2021 will be time for me to finally step down."