Disney Chairman Bob Iger sold shares of the company worth $98.7 million:report

Walt Disney Chairman Bob Iger sold shares of the organization worth $98.7 million, as indicated by an administrative recording late Thursday.

Iger sold 550,570 shares of Disney’s normal stock, the recording appeared. He sold 537,304 shares at a normal cost of $179.2 per share, and 13,266 shares at a normal of $179.76 each.

The amusement organization said the deal was essential for Iger’s transition to expand his portfolio.

Iger had filled in as Disney chief executive officer since 2005 preceding he ventured down recently, giving over the work to Disney Parks head Bob Chapek.

Disney has said Iger will coordinate the organization’s “imaginative undertakings” until his agreement closes toward the finish of this current year.

Iger holds more than 500,000 Disney shares notwithstanding alternatives and different securities, the organization said.