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Ahead of his departure from Disney at the end of the year, former CEO Bob Iger has sold more than 600,000 shares in the company valued at more than $90 million.
Iger sold the shares in early June, according to a filing with the SEC. When he sold the shares, they were priced at between $178.74 and $179.81, according to the filing (via Deadline). Even after selling 600,000 shares, Iger still holds more than 500,000 shares in Disney, in addition to other “options and securities.”
A spokesperson for Disney told Deadline that Iger’s sale was “part of the diversification of Mr. Iger’s portfolio.” In regards to the massive fortune that Iger is making from the sale, the Disney spokesperson said that Disney thrived under Iger’s leadership, with its stock price rising from only $24 when he became CEO in 2005 to more than $176 today.
As CEO, Iger oversaw the acquisition of companies like Marvel, Pixar, and Lucasfilm; most recently, he led the buyout of Fox’s entertainment business.
Disney’s new CEO is Bob Chapek. Iger is the chairman of Disney’s board, while he also continues to hold a management position for content creation at the entertainment giant.
