Bob Iger has told associates he plans to step down as CEO of The Walt Disney Company before his contract expires on December 31, 2026, according to a report from The Wall Street Journal published on Friday.
The 74-year-old executive has reportedly told people close to him in private conversations over the past few months that he is ready to “pull back from daily management” and move on from the grind of running one of the world’s largest entertainment companies. The timing of his departure has not been finalized and could still change, but the wheels are clearly in motion.
Disney’s Board to Vote on Successor Next Week
Disney’s board of directors, now led by Chairman James Gorman — who took on the role effective January 2, 2025 — is reportedly planning to meet next week at the company’s headquarters in Burbank, California. The board is expected to vote on who should replace Iger as CEO.
According to the WSJ report, the top candidates being considered for the position include:
- Josh D’Amaro — Chairman of Disney Experiences, overseeing the company’s theme parks and resorts worldwide
- Dana Walden — Co-Chairman of Disney Entertainment, leading television and streaming content
- Alan Bergman — Co-Chairman of Disney Entertainment, responsible for film and television production
- Jimmy Pitaro — Chairman of ESPN and Sports Content
Disney had previously indicated in 2024 that it anticipated announcing a new CEO by early 2026, and this latest development aligns with that timeline.
A Legacy That Shaped Modern Disney
Iger’s tenure at Disney spans more than five decades with the company. He first became CEO in October 2005 and quickly established himself as one of the most transformative leaders in entertainment history. Under his leadership, Disney completed a series of blockbuster acquisitions that reshaped the entire company:
- Pixar (2006) — Revitalized Disney’s animation division
- Marvel Entertainment (2009) — Created the Marvel Cinematic Universe, the highest-grossing film franchise in history
- Lucasfilm (2012) — Brought Star Wars under the Disney umbrella
- 21st Century Fox (2019) — Massively expanded Disney’s content library and global footprint
Iger also oversaw the landmark opening of Shanghai Disney Resort in 2016 — Disney’s first theme park in mainland China — and the launch of Disney+ in November 2019, which has become one of the world’s leading streaming platforms.
What This Means for Disney Parks
For theme park fans, the question of succession is particularly significant. Josh D’Amaro, who currently leads Disney’s parks division, is among the top candidates. If D’Amaro were elevated to CEO, it would mark the first time a parks executive has led The Walt Disney Company — a signal of just how important the Experiences division has become to Disney’s bottom line.
Under Iger’s current tenure, Disney has committed to a massive $60 billion investment in its parks and experiences division over the next decade. Major projects in the pipeline include expansions at Walt Disney World, Disneyland, and the recently announced Disneyland Abu Dhabi — which Iger personally visited just last week, sharing photos from the future resort site on January 25.
Whoever takes over as CEO will inherit one of the most ambitious periods of theme park expansion in Disney’s history.
The Return That Changed Everything
Iger’s current run as CEO is actually his second time in the role. He originally stepped down in February 2020, handing the reins to his handpicked successor, Bob Chapek. But Chapek’s tenure was marked by internal conflicts, pandemic-era challenges, and a very public dispute with Florida Governor Ron DeSantis over the state’s “Don’t Say Gay” legislation.
In November 2022, Disney’s board made the dramatic decision to bring Iger back as CEO — a move that sent shockwaves through the entertainment industry. Since his return, Iger has focused on restoring creativity as the company’s central priority, restructuring the business, and positioning Disney’s streaming operations for long-term profitability.
What Happens Next
Even after his successor is officially named, Iger is expected to remain as CEO for several months to help mentor the new leader through the transition. According to the WSJ, he could also retain a seat on Disney’s board of directors even after stepping down from the CEO role.
Disney declined to comment on the report when contacted by Reuters.
One thing is certain: no matter who takes over, they’ll have enormous shoes to fill. Bob Iger didn’t just run Disney — he fundamentally transformed it into the entertainment empire it is today.
This is a developing story. We’ll update this article as more details become available.
