A statue of Walt Disney and Micky Mouse stands in front of the Cinderella Castle at the Magic Kingdom at Walt Disney World in Lake Buena Vista, Fla., Jan. 9, 2019. (AP Photo)
Behind the glitz of Hollywood premieres and the thrill of new amusement park rides, Disney is quietly searching for its next CEO. The entertainment giant faces the daunting task of replacing Bob Iger, a leader who has shaped the company for nearly two decades.
A Tough Act to Follow
Iger, widely regarded as one of the most successful executives in Disney’s history, stepped down in 2020 but returned in 2022 after his chosen successor, Bob Chapek, struggled to steer the company. Under Iger’s leadership, Disney acquired Pixar, Marvel, and Lucasfilm, expanded its reach in China and India, and embraced technology to enhance content distribution.
Finding a worthy successor won’t be easy. Disney is a unique company, with theme parks, movie studios, and streaming platforms, all competing for executive attention. The person who takes over must balance these priorities while maintaining Disney’s legacy of innovation and storytelling.
The Search for a New Leader
Disney shareholders will be watching closely as the company holds its annual meeting this Thursday. A succession planning committee, formed in 2023, is leading the search. Morgan Stanley’s Executive Chairman, James Gorman, has been actively involved in finding the right candidate.
In a letter to shareholders earlier this year, Gorman assured investors that progress is being made.
"The full board is committed to finding the right leader and ensuring a smooth transition," he wrote.
Disney has time on its side. Iger initially signed a two-year contract to stabilize the company but later extended it until the end of 2026. This gives the board a window to carefully groom internal candidates or identify an external leader.
Who’s in the Running?
Disney is considering both internal and external candidates, but many believe the next CEO will come from within. Current Disney executives are being mentored by Iger, working closely with board members, and receiving external coaching.
The top internal contenders include:
- Jimmy Pitaro – Chairman of ESPN
- Josh D’Amaro – Chairperson of Disney Parks & Resorts
- Alan Bergman – Co-Chairman of Disney Entertainment
- Dana Walden – Co-Chairman of Disney Entertainment
These executives are becoming more visible in public events. Dana Walden recently spoke at the Morgan Stanley Technology, Media & Telecom Conference, emphasizing Disney’s integration of storytelling and technology. Meanwhile, Bergman and D’Amaro made appearances at the South by Southwest festival to discuss cross-industry collaborations.
Internal vs. External Candidates
Many industry experts believe an internal hire makes the most sense.
"When a company has a strong leadership bench and no need for a major shakeup, internal candidates are the logical choice," said Jason Schloetzer, a professor at Georgetown University.
Henning Piezunka of Wharton Business School agrees, pointing out that Disney is too unique to easily find an external CEO who can "hit the ground running." Unlike automakers or tech firms, Disney’s business spans multiple industries, making it difficult for an outsider to adapt quickly.
However, no single internal candidate has Iger’s depth of experience across all divisions. Walden has a strong background in television and streaming, but lacks theme park experience. D’Amaro, on the other hand, has been with Disney for nearly 30 years, making him a strong contender for the role.
What’s Next?
Disney is currently enjoying strong momentum. The success of Moana 2 at the box office and subscriber growth at Disney+ and Hulu have given the company a boost.
Ultimately, the decision will come down to who the board trusts to lead Disney into the future. The next CEO must balance tradition with innovation, navigate the rapidly changing media landscape, and continue the magic that has defined Disney for generations.
