A new report has emerged disney Chief Executive Officer Bob Iger plans to step down as CEO and step back from day-to-day management before the end of his current contract. Here’s the latest news and our review.
In an exclusive report, wall street journal It has been revealed that Bob Iger has told multiple colleagues that he intends to resign as CEO before December 31, 2026 (the expiration date of his contract). The company has publicly stated that it will Name a successor to current CEO Bob Iger in early 2026and he will stay in office until the end of the year to assist in the orderly transfer of power.
Bob Iger’s contract was extended in the summer of 2023 until the end of 2026, with a focus on succession planning. In a recent letter to shareholders, Board Chairman James P. Gorman, who is charged with selecting a successor CEO and facilitating a successful transition, said potential CEO candidates have been evaluated. He further said that the full board of directors will make a decision and the appointment of Disney’s next CEO will be announced soon.
Disney’s board of directors plans to meet next week at its headquarters in Burbank, California, where it is expected to vote on who should hold the top job, according to people familiar with the matter, The Wall Street Journal reported.
Today’s supplemental report further confirms this new york times, This further narrows the time frame. Disney’s board is expected to choose Iger’s successor next week, according to two people familiar with the matter who spoke on condition of anonymity to discuss a private process with The New York Times.
The Wall Street Journal further revealed that Iger has told people close to him that he is ready to step away from the drudgery of CEO. In private conversations over the past few months, he has admitted to being frustrated by the conflict over the brief hiatus at Disney’s ABC network. late night host jimmy kimmel” said people who spoke to him.
This is obvious even from the outside. Iger made several comments suggesting that turning around Disney would be harder than he expected. By his own account, the job seemed to wear him down.
As someone who has watched nearly every appearance and interview with Bob Iger, I’ve noticed clear cracks in the surface over the past few years. There was animosity between him and Elon Musk, which clearly annoyed Iger. Iger also made another rather careless choice of words during the writers’ strike—a Chapek-esque blunder by the elder Iger. no way Will do it.
There have also been errors in judgment. A mistake that old Egg wouldn’t make. I don’t mean bad decisions from a fan perspective, like his steadfast refusal to reimagine Journey into the Imagination even though it was a sure path to world peace and prosperity. I mean decisions that were clearly wrong, as evidenced by Disney having to walk back those decisions. This kind of thing happened every week in the Chapek era, but unforced errors rarely happen in Iger 1.0.
Egger argued that adapting to the current climate is an impossible and unenviable task. He has largely done a good job of quelling criticism, quelling controversy and steering the political landscape, at least to the extent possible.
Overall, Egger’s rhetoric and calculations are excellent. He is disciplined and passionate about delivering his message and brand. Compared with the previous CEO, this is a huge difference. At the same time, careful observers can tell that he has fallen a step behind – something I wouldn’t have said in early 2020 when he first suddenly left. He’s like LeBron then and now; still one of the best players of all time, but a different player than he was in his prime.
According to the Wall Street Journal, Iger told multiple colleagues that he wanted to spend more time and energy on other things, such as sailing the Aquarius, a new massive superyacht that was completed and delivered to him last summer.
He said he also wants to spend more time working with his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, on Angel City FC, the women’s soccer team they will acquire in 2024.
According to DTB sources*, Egger hopes Spending more time petting hippos after ‘three years of hell’. The inside scoop is that he’s still unhappy with his successor/predecessor getting more Hippo face time and wants to even the score. (*I made it up.)
The final timing of Iger’s resignation as CEO has not yet been determined and is subject to change.
Whatever the timing, it’s not expected to be as immediate and sudden as the last time Ige handed the keys to the kingdom to Chapek in the early days of the pandemic. People familiar with Iger’s plans told the Wall Street Journal that Iger is expected to stay on as CEO for several months after the company announces who will succeed him so that he can mentor the new leadership.
Iger is also likely to retain his role on the board and the company after the CEO transition. We note that this happened last time and it didn’t end well.
People close to the company believe the CEO battle has been narrowed down to two candidates: Experience Chairman Josh D’Amaro and entertainment co-chairman Dana Walden, a veteran television executive.
Last August, both executives presented their vision for the company’s future to the board. The Disney Succession Planning Committee and all directors are actively involved in the rigorous and ongoing evaluation of potential CEO candidates, including direct involvement, performance reviews and consideration of leadership qualities consistent with the company’s long-term strategy.
If you want to know why a completely unbiased Disney theme park blog thinks the head of Disney’s theme parks should be the company’s next CEO, check out “Josh D’Amaro is gaining ground as Bob Iger’s successor. Here’s why he should be Disney’s next CEO.“
Iger told a colleague that he wanted to give his successor a “fresh start,” and a delay until the end of the year would prevent the board from picking someone to lead the company forward.
Since Egger’s return, speculation, rumors and palace intrigue have been constant. A lot of it is about Bob’s War, but just as much is about the successor.
There have been questions about who will take the top job, whether it will be an insider or an outsider, and how the company plans to manage the transition. Frontrunners include the late CFO Christine McCarthy, former Disney executives Tom Staggs and Kevin Mayer, and current Park Service Chairman Josh D’Amaro.
Ahead of this, a year-end poll Bloomberg More than 700 industry experts were asked the big questions about the future of entertainment companies. One of the questions is “Who will be Disney CEO in 2027?”
Damaro won with about 30%, or 212 votes. “Walden” came in second with 22.5% (159 votes). Bob Iger came in third with 18%, or 126 votes. Betting on Bob staying (again) is never a bad bet because history will be on the side of that choice.
Again, from the outside, my view is This time is different. Disney is actually very serious about the succession process this time around, and there’s no way they’re going to let history repeat itself after Chapek was so poorly chosen last time. Gorman’s presence alone speaks to that.
Even beyond that, Bob Iger seems ready to move on. Maybe, like LeBron, father time has finally caught up with him and he realizes he’s been a step behind. Maybe the longer run this time rounded him up.
The turnaround may be satisfying, he’s satisfied with a more seamless succession process, and he’s ready to leave on a high note. He’s not worried about Chapek-sized mistakes tarnishing his legacy.
In this case, an “early” exit might also actually mean exiting around the start of the new financial year on October 1 (rather than December 31). My guess is that this is closer to reality than Iger leaving in March or April. We should find out in the next few weeks, so stay tuned for the next episode of “Days of the Disney Executive,” America’s #1 soap opera in major commercial and Hollywood demos.
Need Disney trip planning tips and comprehensive advice? Please be sure to read Disneyland Vacation Planning Guidewhere you’ll find a comprehensive guide to Walt Disney World, Disneyland, and more! For Disney updates, discount information, free downloads of our eBooks and wallpapers, and more, Sign up for our free email newsletter!
our thoughts
Do you think Bob Iger will really leave the CEO seat early? who does you Do you think he will be the CEO of The Walt Disney Company on January 1, 2027? Is it Bob Iger (still), Josh Damaro, Dana Walden, Tom Staggs, or none of the above? WHO should Yeah? Do you agree or disagree with our assessment? Have any questions we can help you answer? Hearing your feedback (even if you disagree with us) is both fun for us and helpful to other readers, so please share your thoughts in the comments below!