Outgoing CEO Bob Iger expressed immense gratitude, confidence in incoming CEO Josh D’Amaro and acknowledged “extraordinary change” in his farewell address at Disney’s annual shareholder meeting on Wednesday.
The meeting marked the transfer of power from Iger, who is exiting the company, to D’Amaro, who takes the baton and touted his “One Disney” vision going forward.
Iger, who has worked for the Walt Disney Company since 1974, offered an emotional sendoff.
“As I mark my last day as CEO of our wonderful company, I want to thank all of you for making these last three years so productive and gratifying. It’s also the end of a 52 year journey that began in 1974 and has spanned almost three quarters of my life. I never dreamed I would end up as CEO of The Walt Disney Company, and I certainly never expected to step into the role a second time, but once I did, I was quickly reminded of the tremendous responsibility that being entrusted with something very special bears,” he said in a prepared statement.
“What I couldn’t have fully known then was just how meaningful this journey would become because of the people, the creativity and the shared belief in what this company stands for and what we have all accomplished, particularly during this second time around,” he continued, nodding to the fumbled handoff to short-time CEO Bob Chapek, who was ousted and replaced with Iger in 2022.
“Over the years, we experienced extraordinary change and faced real challenges that were particularly profound in the last three years. It was daunting at times, but through it all, what sustained me was the passion I saw every day from great storytellers, innovators, leaders and people around the world who care so deeply about what they do and want to just get it right, that commitment, resilience, passion and heart would make this company what it is,” he said.
Iger continued by acknowledging the creative leaders he’s entrusted to help the Disney company soar throughout his tenure.
“I’ve always believed that leaders don’t create the magic, the people who work for and with the leaders do, and my greatest privilege has been supporting that talent, listening, learning and doing everything that I could to nurture the creative spirit and protect the values that define this place.”
The outgoing CEO acknowledged the company was in a tough spot when he returned in 2022, but considers his mission of turning that ship around accomplished.
“When I returned in 2022, people had lost confidence in the company they worked for. Today, everywhere I turn, I sense confidence and excitement about what lies ahead. So as I step away, I do so with enormous gratitude and real optimism. I believe deeply in this company’s future, because I believe in Josh D’Amaro and the people who will help him shape it next,” he continued.
“Josh is a wonderful choice to lead the Walt Disney Company. He has passion for our businesses and brands, respect for our people, and he appreciates what makes this company so unique, and Dana Walden will play a vital role focusing on our most critical endeavor, creativity,” Iger said.
“I will be cheering on Josh, Dana and all of you as I sail off into the sunset. So thank you for the trust you placed in me, for the memories we created together, and for allowing me the honor of serving. It has meant more to me than I can say. The stories and experiences Disney will bring to the world will continue to inspire, entertain, and connect generations, just as they always have. Thank you.”
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