Disney Preps to Release CEO Bob Iger, News on Coveted Replacement Found

It seems that we now have a timeline for Bob Iger’s replacement at The Walt Disney Company.

A man in a blue shirt is speaking into a microphone on an outdoor stage adorned with colorful decorative elements and vibrant foliage. The background features artistic structures and plants wrapped in various colors of rope. — Credit: KTLA, X

Bob Iger, the Disney CEO known for returning from retirement to steer the company through turbulent times, has many wondering—what’s next for Disney? After taking over from Bob Chapek to stabilize The Walt Disney Company, Iger’s current tenure will end in 2026, leaving Disney with no room for error in choosing its next leader.

Iger’s initial stint as Disney’s CEO, from 2005 to 2020, was defined by major successes that cemented the company’s dominance in global entertainment. One of his first major moves was acquiring Pixar Animation Studios in 2006, bringing creative powerhouses like John Lasseter and Ed Catmull into the Disney fold.

This acquisition launched a new era of animated storytelling, with Pixar delivering a slew of blockbuster hits such as Toy Story, The Incredibles, Coco, Up, and many more, all of which have been seamlessly integrated into Disney parks worldwide.

In 2009, Iger made another game-changing acquisition by bringing Marvel Entertainment into the Disney family. This not only introduced a vast array of beloved characters but also laid the foundation for the Marvel Cinematic Universe (MCU), which became a juggernaut in film and TV, eventually expanding into Disney+ (though we’re not quite there yet).

Iger continued to bolster Disney’s content empire with the 2012 acquisition of Lucasfilm, which added the Star Wars franchise to Disney’s roster. The result? Expansions like Star Wars: Galaxy’s Edge at Disneyland and Disney’s Hollywood Studios, and the development of hit series such as The Mandalorian, Ahsoka, and Obi-Wan Kenobi.

Bob Iger standing next to Mickey Mouse — Credit: Inside the Magic

Iger’s impact wasn’t limited to content creation. His leadership also saw massive expansion in Disney’s theme park business, including the 2016 opening of Shanghai Disney Resort, a landmark for Disney’s growth in the Chinese market.

Meanwhile, he laid the groundwork for Disney’s future in digital entertainment, launching Disney+ in 2019. Now the third-largest streaming platform behind Netflix and Amazon Prime, Disney+ became a cornerstone of Iger’s direct-to-consumer strategy.

Despite these accomplishments, Iger’s tenure wasn’t without challenges. Succession planning proved difficult, as Iger’s planned retirement in 2016 was repeatedly delayed, leading to uncertainty about Disney’s future leadership.

After eventually stepping down in 2020 and passing the torch to Bob Chapek, Iger took on the role of Executive Chairman. However, in a surprise move, he returned as CEO in November 2022 to steady the company once again.

As Iger’s second tenure continues, with plans to end in 2026, the future leadership of Disney remains a crucial question.

The next CEO will have a tough act to follow, but Iger’s legacy of bold acquisitions and transformative leadership will undoubtedly shape the company’s path forward.

Bob Iger’s Replacement to be Announced in 2026

Collage with a serious man in foreground, walt disney statue pointing, and disney castle in background, alongside a smiling elder man. bright and colorful design elements. — Credit: Becky Burkett/Disney/Walt Disney Archives/Canva

As part of an executive restructuring, The Walt Disney Company is anticipated to announce a new CEO in early 2026.

As part of the executive shakeup, Mark Parker will step down as Chairman of the Board of Directors, with James P. Gorman set to take over the role effective January 2, 2025.

The official announcement is as follows:

The Walt Disney Company (NYSE: DIS) Board of Directors (the “Board”) has named James P. Gorman as Chairman of the Board, effective January 2, 2025. He will succeed Mark G. Parker, who is departing the Disney Board on January 2 after nine years of service.

Gorman is Executive Chairman of Morgan Stanley and, as previously announced, will be stepping down from that role on December 31, 2024. He is currently Chair of the Disney Board’s Succession Planning Committee, which is working to identify and prepare the next chief executive officer of The Walt Disney Company.

“James Gorman is an esteemed leader who has become an invaluable voice on the Disney Board since joining earlier this year, and I am extremely pleased that he has agreed to assume the role of Chairman upon my departure. Drawing on his vast experience, James is expertly guiding the extensive search process for a new CEO, which remains a top priority for the Board,” said Parker, who is Executive Chairman of NIKE, Inc. “As I prepare to leave the Board to focus on other areas of my work, I am proud of Disney’s renewed position of strength and excited for the company’s future, and I want to thank my fellow directors, Bob Iger and his exemplary management team for their continued strong leadership and dedication.”

“The Disney Board has benefited tremendously from James Gorman’s expertise and guidance, and we are lucky to have him as our next Chairman – particularly as the Board continues to move forward with the succession process,” Iger said. “I’m extremely grateful to Mark Parker for his many years of Board service and leadership, which have been so valuable to this company and its shareholders, and to me as CEO.”

“I am honored and humbled to have the opportunity to serve as Disney’s Chairman at this important moment in the company’s history,” Gorman said. “In the short time I have had the opportunity to work with Mark, I have come to appreciate and deeply respect his authentic leadership, humility and intelligence. I know all Directors join me in saying we have been honored to serve with him as the Chairman of the Board.”

Credit: Disney

Then the news of a early 2026 reveal was stated:

“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026. This timing reflects the progress the Succession Planning Committee and the Board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026,” Gorman said.

The Board’s Succession Planning Committee is chaired by Gorman and includes directors Mary T. Barra and Calvin R. McDonald, as well as Parker until his departure. The Committee and the full Board continue to undertake a deliberate and thoughtful succession planning process, including evaluation of transition structures and organizational frameworks, and planning for potential impacts of succession decisions across the Company. The Committee met six times in fiscal 2024, consistently engaging with the full Board on the substance of the decisions to be made. The Board discussed succession planning at each of its regularly scheduled meetings in fiscal 2024. The Committee and Board continue to review internal candidates and external candidates.

Who Will Replace Bob Iger?

Dana Walden, co-chairman of Disney Entertainment, remains a frontrunner for Disney’s top leadership role, according to nearly a dozen industry insiders, corporate competitors, and Disney sources cited by Variety.

Disney Entertainment co-chairman Dana Walden being interviewed — Credit: LMU School of Film and Television

As the company’s television head and a key figure behind Disney’s recent Emmy successes (Iger was notably seated with Walden at the ceremony in Los Angeles), Walden’s decades of talent management have positioned her as a strong contender.

Her calm demeanor and focus on creative production make her the closest spiritual successor to Iger, according to one influential Hollywood figure, who remarked, “Dana is smart and fully committed to this opportunity.”

However, Walden may not be rearranging Iger’s office furniture just yet.

Her experience outside of television is limited—she has little exposure to parks, cruises, and Disney’s film franchises. She’s also been thrust into the political arena, with her friendship with presidential hopeful Kamala Harris. This political involvement could be a concern for Disney, a company that is cautious about engaging in partisan politics, knowing it must appeal to audiences across the political spectrum.

On the other hand, Josh D’Amaro, Disney’s head of parks, is less known but offers operational experience that might win favor with Disney’s board and shareholders. D’Amaro made a notable appearance at August’s D23 fan convention, where he teased a new “Villains Land” at Walt Disney World, with the magic mirror from Snow White even giving him a personal shoutout on stage.

While D’Amaro has less experience with Wall Street, his creative leadership over Disney’s parks and Imagineers could work in his favor.

Disney Parks Chairperson Josh D'Amaro talking on Main Street, U.S.A. — Credit: Josh D’Amaro, Instagram

“Beyond Dana or Josh, the options get slimmer,” one high-powered talent agent observed.

Yet, Alan Bergman, Walden’s co-chairman of entertainment, shouldn’t be ruled out. His success in revitalizing Disney’s film division, which includes key properties like Marvel, Lucasfilm, and Pixar, makes him a strong candidate.

Meanwhile, ESPN chairman Jimmy Pitaro, who has frequently downplayed any interest in Iger’s role, has some insiders wondering if he’s too quick to dismiss the possibility. And while CFO Hugh Johnston is highly regarded by Disney employees, many insiders believe he’s not in serious contention for the top job.

Who do you think Disney will appoint to replace Bob Iger as CEO?