Bob Iger says he WILL step down in 2026 and insists he has 'robust' succession plans - as he also defends removing Disney ads from X because associating with Elon Musk was 'not necessarily positive'

Bob Iger confirmed on Tuesday that he will be stepping down as Disney CEO as planned in 2026.  

The decision has at times been doubted as no successor has yet been publicly named and the media empire continues to face threats from activist investor Nelson Peltz, as well as a host of other issues. 

Iger returned to the helm in November 2022 at Disney after his chosen successor Bob Chapek was forced out after less than a year in the role.  

The 72-year-old told The New York Times Dealbook Summit on Wednesday that he would 'definitely' be stepping down when his contract is up in two years, and that the company's succession process 'is robust right now.' 

Iger also touched on Disney's decision to pull its advertising from Elon Musk's X platform. 

'I have a lot of respect for Elon and what he has accomplished,' Iger said.

'We know that Elon is larger than life in many respects, and that his name is very much connected to the companies he founded or owns' he explained. 

'By him taking the position he took in a public manner, we felt that the association was not necessarily a positive one for us.'

Musk has been heavily criticized for making anti-Semitic comments on his X platform. 

Apple has also paused all advertising on X after owner Elon Musk agreed with a post on X that falsely claimed Jewish people were stoking hatred against white people.

Musk, who has 163 million followers on X, said the user, who referenced the 'Great Replacement' conspiracy theory, was speaking 'the actual truth.

On Friday Axios reported Apple would pause its advertising on the platform after 164 rabbis and activists called on Apple, Google, Amazon and Disney to stop advertising.

However, Iger defended CEO's right to weigh in on geopolitical events as 'perfectly reasonable'. 

On the threat from activist investor Nelson Peltz, who is seeking to wield his stake in the company to gain board seats, Iger said the board had a 'responsibility to listen to investors' but did not wish to become distracted. 

'The board has an obligation to listen to investors. I am certain that the board will hear them out as to what their plans are,' Iger said.

Adding that he told the board that 'we have to obviously contend with them in some form, but don't force me to take my eye off the ball [in managing the company].'

'It's not like we have a number of empty [board] seats.'