(Dmytro “Henry” Aleksandrov, Headline USA) Disney CEO Bob Iger decided to escape the sinking ship when he announced that he doesn’t want to work in the company for more than two years, with his remarks coming as the company announced its financial losses that resulted in them cutting $5.5 billion in costs and slashing 7,000 jobs.
On Thursday, Iger told CNBC’s “Squawk on the Street” that he plans to work for the company only for the duration of his contract but no longer, according to the Epoch Times.
“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,” he said.
Iger, who served as Disney CEO and later came out of retirement to take the job once again after the company fired Bob Chapek, said that one of the goals he wants to achieve before he leaves the company for good is to help the Disney board “succeed at succession.”
In Nov. 2022, Disney’s board fired Chapek as CEO and announced Iger’s return to the company’s top spot. Back then, Disney said that Iger would “set the strategic direction for renewed growth” for the company and work closely with its board on “developing a successor to lead the company at the completion of his term.”
Chapek, who previously worked as the chairman of Disney Parks, Experiences and Products, became Disney’s CEO in Feb. 2020.
Iger’s desire to leave the company as soon as possible may be connected to the fact that, due to the woke politics that the company pushed down people’s throats, Disney lost a lot of money and was forced to lay off around 7,000 employees.
According to the Epoch Times, the layoffs are part of a broader reorganization that includes a strategy to cut costs by $5.5 billion.
An October securities filing stated that the job cuts amount to roughly 3% of Disney’s total global workforce of around 220,000 employees.