Disney's Bob Iger elaborated a bit Wednesday on his stunning decision to step down as CEO and become executive chairman effective immediately.

"I don't want to run the company anymore," Iger said via phone, a day after his announcement.

The long-tenured chief cited 20 years and 81 earnings calls and said he wants to concentrate on the creative pipeline of the company.

Iger told me his desire to step down coalesced around Thanksgiving when he raised it with the board, which had already been targeting candidates.