Bob Iger, the former CEO of The Walt Disney Company, recently sold off more than $90 million worth of Disney company stock. According to an SEC filing late last week, Iger sold a little over 600,000 shares with most priced between $178.74 and $179.81.
As shared by Deadline, a company spokesperson said the sale “is part of the diversification of Mr. Iger’s portfolio, and the value of these shares reflects the significant shareholder value generated under his leadership, with Disney’s stock price rising from just $24 a share when he became CEO in 2005, far outpacing the S&P 500. Mr. Iger continues to hold over 500,000 Disney shares in addition to options and other securities.”
For those who don’t remember, Iger stepped down from the position of CEO last February, right before the company saw major closures of its North American theme park resorts at both Walt Disney World and Disneyland. Bob Chapek, the former Chairman of Disney Parks, Experiences and Products.
Currently, Iger is sitting at The Walt Disney Company as the current Executive Chairman of The Walt Disney Company. However, this position for Iger is only temporary. In March, the former CEO announced that he planned to leave The Walt Disney Company officially on December 31, 2021. Iger stated that as the economy has begun to recover and the COVID-19 pandemic has started slow he is no longer needed.
It is not known what Iger will be doing once he leaves the house of mouse. Iger is currently 70-years-old and has been a part of The Walt Disney Company for the past 47-years. 15 of those years were served as the CEO of the company. His time at the company famously included the acquisition of 21st Century Fox, which he oversaw.
What are your thoughts on Iger’s massive return from the sale of his company stock? Let us know in the comments!