Credit: Inside the MagicAs the waning weeks of 2025 count down, we get that much closer to 2026 and an announcement of who the next Disney CEO will be. Earlier this month, reports began circulating that the race to replace Bob Iger has come down to two horses: Disney Parks Chairman Josh D’Amaro and Disney Entertainment Co-Chair Dana Walden.
Those reports appear to be accurate, as both D’Amaro and Walden have recently been moved to the forefront by Disney as they seemingly prepare to take over the big chair. However, what if those reports were slightly off, and both of them would take over as the next Disney CEO?
According to CNBC, Disney is considering a co-CEO model similar to Netflix’s current structure. Under this new model, Iger would still hold some power within the company.
CNBC reported that Iger recently called Netflix’s Executive Chairman, Ted Sarandos, to discuss how Netflix accomplished the co-CEO model. Sarandos and Reed Hastings became the Co-CEOs of Netflix in 2020, and when Sarandos moved up to become the Executive Chairman, he named Greg Peters as his successor as Co-CEO.
At Disney, Iger would become the company’s Executive Chairman, while Walden and D’Amaro would take over as co-CEOs, each maintaining their current area of expertise. CNBC said that part of Disney’s thinking is that the loser would leave the company if they choose one over the other.
In 2020, when Disney chose Bob Chapek to replace Iger as CEO, Disney’s streaming chief, Kevin Mayer, left to become TikTok’s CEO. This system would allow D’Amaro to continue running Disney Parks, while Walden could continue running Disney’s Entertainment Division.
However, many outside observers don’t see Disney’s corporate culture as a place that would accept a Co-CEO arrangement. “It wouldn’t work for Disney,” a senior media executive told CNBC privately. “There would be so much backbiting. That’s how it’s always been there.”
There is also the Iger concern. When Chapek took over Disney, Iger still undermined his decisions and leadership. With Iger sticking around in the model, he would be a tiebreaker, but that would alienate one or both of his successors.
So, with only two and a half months left in 2025, it appears that the Disney Board is no closer to naming Iger’s successor, and it could just keep Iger in power in perpetuity. Either way or the other, they’ll have to decide soon enough.
Do you think a Co-CEO model could work at Disney to replace Bob Iger? Let us know in the comments.