Bob Iger sells $42.7 million worth of Disney stock amid successor search
- Bob Iger sold over 372,000 shares of Disney stock last week for $42.7 million.
- The sale was part of a pre-established trading plan due to expiring stock options from 2014.
- The company is in the process of searching for Iger's successor, aiming to name one by early 2026.
In November 2024, Bob Iger, the CEO of Disney, sold 372,412 shares of the company, which totaled to more than $42 million. This sale occurred as the company is actively searching for Iger's successor, a process that has been reported to take a lengthy duration. The shares were sold under a trading plan that Iger had established following the exercising of stock options that were set to expire in December. These stock options had been granted to him in 2014 with a strike price of $92.24 each. As a result of this sale, Iger realized a profit of approximately $8.3 million upon the sale of the shares, reflecting a favorable stock market condition for Disney which had seen a rise of over 27% in stock value year-to-date, influenced by strong earnings reports. The search for Iger's successor includes evaluating both internal candidates from Disney's corporate suite and external candidates, indicating a strategic move by the board to secure future leadership. The company has expressed intent to name a successor by early 2026.