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Credit: Inside the MagicWhen it comes to Bob Iger, the Disney CEO who is now known for having to return after retirement to save the Mouse House, many are wondering — what is Disney going to do next? While we all know Bob returned to save The Walt Disney Company from Bob (Chapek), his second tenure will only last until 2026, and this time Disney will have no room for error in their selection.
While Disney may not be spilling the beans on who might take over, some expert analysts are predicting the future, and we are here with our crystal ball full of pixie dust to bring you the news.
Bob Iger’s Reign
Bob Iger’s tenure as the CEO of The Walt Disney Company, spanning from 2005 to 2020 (initially), was marked by a series of significant accomplishments that solidified Disney’s position as a global entertainment giant. One of his early triumphs was the acquisition of Pixar Animation Studios in 2006, which brought visionary creatives like John Lasseter and Ed Catmull into Disney’s creative fold.
This move set the stage for a new era of animated storytelling, with Pixar contributing immensely successful films to Disney’s repertoire. Now, the integration of Toy Story, Ratatouille, The Incredibles, Inside Out, Coco, Up, Cars, and so many other films have been integrated seamlessly into the Disney parks around the globe.
In 2009, Iger orchestrated another major acquisition by bringing Marvel Entertainment into the Disney family. This strategic move not only added a vast array of beloved characters and franchises but also paved the way for the creation of the Marvel Cinematic Universe (MCU), a massively successful and interconnected series of films and TV shows (which we would then see expand to Disney+, but let’s not jump the timeline just yet…).
The acquisition of Lucasfilm in 2012 blew up Disney’s content library, bringing the iconic Star Wars franchise under its umbrella and opening up new opportunities for storytelling across various media. Now, we have Star Wars: Galaxy’s Edge in Batuu (Disney’s Hollywood Studios and Disneyland Park), as well as in-depth looks at other iconic characters through shows like Ahsoka, The Mandalorian, Book of Boba Fett, Obi-Wan Kenobi, and more.
Bob Iger’s leadership extended beyond content creation to significant expansions in Disney’s theme park business. The opening of the Shanghai Disney Resort in 2016 marked Disney’s entry into the mainland Chinese market, which was the biggest opening for the CEO, outside of the multiple lands, attractions, and shows that debuted during his tenure.
One of the transformative moves during Iger’s later years was the strategic focus on a direct-to-consumer approach. This was manifested in the launch of Disney+ in 2019, Disney’s own streaming service. Today, Disney+ is the third-largest streaming platform, behind Netflix and Amazon Prime.
Despite these accomplishments, Iger faced challenges during his tenure. Succession planning became a notable issue, with the initial announcement of his retirement in 2016 followed by a delay in the transition to a new CEO, creating uncertainty about Disney’s future leadership.
In 2020, Bob Chapek succeeded Bob Iger as CEO, with Iger transitioning to the role of Executive Chairman. Then, during the evening of November 20, 2022, the Disney community was stunned when it was announced that Iger would return as CEO. As we know now, his tenure will last through to 2026.
Bob Iger’s Fall
While many Disney films achieved immense success during Iger’s time, there were also instances where films did not perform as well as expected, leading to financial setbacks in the studio entertainment segment — this is an issue that has severely grown during Iger’s second run as CEO, as Disney is losing more than it is making at the box office, causing stocks to plummet.
In the theme park department, we are also not seeing massive progress in terms of something major coming down the pipeline in the next few years, aside from new cruise opportunities on ships like the Disney Treasure. All the while, Universal is opening a third gate in Orlando, Epic Universe, a kids park in Texas, and a Halloween Horror Nights year-round experience in Las Vegas. Additionally, the company bought land in the U.K. for a possible new theme park, Universal’s Great Britain.
“Bob Iger is back because they wanted to capture the magic of what he did during his many years at Disney where the share price went up by like 400%,” Julio Bruno, the ex-CEO at Time Out who took the company public, tells Fortune.
Who Will Be the Next Disney CEO?
Knowing that Disney is truly facing a moment in history where they need to turn things around, the next CEO choice will be crucial to the success of the company.
“It comes back to what a business might need,” said James Reed, CEO and chair of U.K. recruitment firm Reed. “Does it want a disruptor, or does it want a similar approach to the outgoing CEO?”
So, who are the choices? Fortune has done some digging at who may lead the company next, from internal to external sources and candidates.
“Currently, internal candidates for the top job are said to include Dana Walden, co-chair of filmed entertainment, and Josh D’Amaro, who heads Disney theme parks. What’s more, Kevin Mayer and Tom Staggs, who at one point were considered the heirs apparent to Iger, have also rejoined the company in advisory roles,” the publication states.
Knowing this, we also know that Disney will have access to the largest talent pool that exists, and will likely be able to pick from nearly any great leader that has already showcased their abilities through successes with other companies, outside of Disney.
Disney May Turn to a Streaming-Led CEO
Fortune then spoke with Bruno, who has held executive roles at Just Eat and TripAdvisor and believes that while Iger may have retunred for now, Disney will want something different in terms of management style for the next CEO.
“They have a problem with their streaming channel, they had the problems with the NBC Fox acquisition, their theme parks are empty and then they had a number of flops like the Haunted Mansion and The Little Mermaid which lost millions. So how do they regain the magic at Disney? They need, in my opinion, a big change—and that change isn’t going to come from inside.”
Bruno went on to explain that the right candidate will be a tough find, since you need to find someone who understands so many markets, as Disney has their food dipped in everything from entertainment to theme parks to cruise lines to merchandise and more.
“Their challenges and their opportunities are going to come through content and emerging technologies that allow you to get eyeballs in the most cost-effective way, which they can then sell advertising and subscriptions off the back of,” he says. “Therefore, content creation—and how AI will impact that—will be very significant.”
It’s why Mark Freebairn, partner and head of the board and CFO practices at Odgers Berndtson, one of the world’s largest executive recruitment firms, predicts Disney may be eyeing up “someone from a competing content stream provider” for its next chief.
“I have a feeling that it will be somebody much more looking at the future of streaming, purely digital,” Bruno agrees, adding that whoever runs Disney next will need to be much “younger” than their predecessor.
Interestingly enough, there were rumors in 2023 that former TikTok CEO, Kevin Mayer, is set to take over Disney after Iger. While this is in no way confirmed, Mayer did work for the House of Mouse for 30 years before moving to TikTok, so he would possess the internal knowledge that would serve as an upper hand while also having experience with other massive external companies.
Why Bob Iger Cannot Choose the Next CEO Alone
Fortune reported that they spoke with experts, who noted Iger would be a part of the decision-making but wouldn’t have the final say. ““When it comes to selecting a new CEO, the power is rarely concentrated in one person’s hands but instead resides with a broad panel of decision-makers. The focus is on the needs of the company moving forward and the best direction to move in”, stated Fortune.
In the end, experts believe that Iger’s choice would likely not be the best choice due to the fact that Iger will want to hire someone to protect his legacy and boast on his accomplishments instead of pointing out where he faltered. That being said, the board will want to pick someone who will protect Disney’s future, and that may not be the same person.
Do you have any predictions as to who will take over as CEO for The Walt Disney Company in 2026?