The chief executive of Walt Disney Bob Iger reportedly said that he will step down from his role in 2026 when his contract with the media behemoth ends. He also added that American Broadcasting Company (ABC) —the flagship property of Disney— is not for sale.

Iger was addressing the media at the New York Times Dealbook Conference where he reportedly said that Shanghai Disneyland would be expanded as a theme park soon.

The Disney chief returned to the company as CEO in 2022, ousting his predecessor and successor Bob Chapek. He extended his association with the company for two more years till 2026 although his original plan was to stay only till 2024. Iger's first stint with Disney as CEO was in 2005 and he was in that role for 15 years.

He informed that the Disney board is looking for a successor to take on the chief executive role after Iger’s departure.

After his re-entry in 2022, Iger’s motto was to make Disney cost-effective. The company is reportedly on track to save more than $5 billion in costs as promised to its investors.

Meanwhile, responding to Elon Musk's lashing out at Disney and other advertisers for pulling out from X as a fallout of his anti-semitic post, Iger said that associating with the platform was not a "positive one for us".