NATIONWIDE -- Walt Disney Company CEO Bob Iger plans to step down in 2021, when his current contract expires.

  • Disney CEO Bob Iger plans to step down in 2021
  • Iger made the comments during the company's Investors Day
  • He extended his contract through 2021 to see the Fox deal through
  • RELATED: Disney CEO Bob Iger made $65.6M in 2018

Iger made the comments during a Q&A session during the company's Investors Day on Thursday.

"I'm expecting my contract to expire at the end of 2021," Iger said. "And I was going to say 'this time I mean it,' but I've said that before."

"As I've said many times, there's a time for everything and 2021 would be the time for me to finally step down," he added.

Iger has been CEO of The Walt Disney Company since 2005. During his time with the company, Iger has extended his contract before--once in 2014 and twice in 2017. The last extension came as Disney worked to buy 21st Century Fox's media assests in a multi-billion dollar deal.

As CEO of Disney, Iger secured other major acquisitions, including Pixar in 2006, Marvel in 2009 and Lucasfilm in 2012. He also lead the company during the addition of Pandora: The World of Avatar at Disney's Animal Kingdom, Toy Story Land at Disney's Hollywood Studios and Star Wars: Galaxy's Edge at both Hollywood Studios and Disneyland. Galaxy's Edge is set to open in California in May and in Florida in August.

The company is also currently working on a new streaming service called Disney+, which is set to launch in November with content from the Disney film library, Star Wars, Marvel and more.

On Thursday, Iger said that the board has been working on a succession process.