Bob Iger (YouTube clip)
Dismey Chaiman Bob Iger has unloaded about half of the stock which he held in the company. According to an FEC filing, Mr. Iger has sold 550,570 shares of the Walt Disney Company‘s common stock. The filing also showed that Bob Iger specifically sold 537,304 shares at an average price of $179.2 per share, and 13,266 shares at an average of $179.76 each. The total value of the sale came to $98.7 million.
There is no word yet as to what motivated the sale, which comes just a few months after Bob Iger announced his plans to retire.
In March, Bob Iger announced plans to leave the Walt Disney Company. He has served at the top of Disney in one job or another for the past 22 years. He was the company’s president for twelve years and last year he stepped down from the role of Disney CEO after fifteen years to become the company’s chairman. Now comes word that he will be leaving the company entirely at the end of the year after transforming it into the behemoth which it has become.
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During his tenure Disney bought out the entire Star Wars empire, Marvel Comics and most recently the Fox movie studios and its entire library of copyrighted movies and television shows. He can be credited with the success of Marvel movies and the billions upon billions earned by the 23 films of its Marvel Cinematic Universe which were released from 2008 until 2009. Its pinnacle was “Avengers: Endgame” which is the highest grossing movie of all time. More films were to have been released by now, but were delayed because of the Coronavirus pandemic.
“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, ” a Disney spokesperson said. “Mr. Iger continues to hold over 500,000 Disney shares in addition to options and other securities.”
