“Disney Chief Executive Bob Iger has told associates that he plans to step down as CEO and pull back from daily management before the Dec. 31 end of his contract, according to people familiar with the matter.
The entertainment giant’s board of directors is planning to meet next week at its headquarters in Burbank, Calif., where they are expected to vote on who should take the top job, according to people familiar with the matter.
In private conversations over the last few months, Iger has told people close to him that he is ready to move on from the grind of being CEO and was frustrated by conflicts at Disney’s ABC network over the brief suspension of late night host Jimmy Kimmel, people who have spoken with him said.
The CEO has told multiple associates that he would like to spend more of his time and energy on other things, such as sailing his new and larger superyacht, the Aquarius—which was completed and delivered to him last summer. He has said he would also like to devote more time to work with his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, and on Angel City FC, the women’s soccer team they bought in 2024.
The final timing of his departure from the top job hasn’t yet been determined and could change. Iger is expected to remain CEO for several months after the company announces who will succeed him so that he can mentor the new leader, people with knowledge of his plans said. He could retain a role on the board and at the company after the CEO transition.
People close to the company believe the CEO race has come down to two candidates: Experiences chairman Josh D’Amaro, who oversees theme parks, consumer products and videogames, and Dana Walden, a veteran television executive who co-chairs Disney’s entertainment business, including streaming. Both executives presented their visions for the company’s future to the board in August, The Wall Street Journal previously reported. Many believe D’Amaro is the front runner.
He told one associate that he wanted to give his successor a “fresh start” and that lingering until the end of the year would hinder whomever the board picks to lead the company going forward.
For more than a year, intrigue has swirled over who will get the top job, whether it will be an insider or an outsider, and how the company plans to manage the transition.
In February of 2020, Iger stepped down as CEO for the first time after a 15-year stint, handing the reins to Bob Chapek, who headed the theme parks division and had become a top deputy to Iger. Iger stayed on for more than a year and half as executive chairman, to advise Chapek and smooth the transition.
As the Covid-19 pandemic unfolded, however, the two men clashed frequently and intensely, leading to a chaotic period for the 100-year-old entertainment giant that culminated in the board ousting Chapek in November 2022. The company brought back Iger for a second stint as CEO.
The board, chaired by former Morgan Stanley CEO James Gorman, has carefully orchestrated the selection process while also keeping it under tight wraps. That is a marked contrast from 2020, when Iger was board chairman and drove the decision to name Chapek as his successor.
In a recent public filing, Disney’s board said it would make its decision in the current quarter and that internal candidates are receiving mentoring from Iger and external coaches.”
Pick Dana, please. The last parks guy to take sole control was a disaster. Even a dual CEO structure would be better than D’Amaro getting free reign.
Benevolay on
I wonder if he’ll announce Zootopia 3 before he goes. I think he views Disney’s renewed inroads into China as an important part of his legacy. He went to China twice, both for Zootopia. Zootopia 3 is all but confirmed and I just think he’d prefer to be the one to say it’s happening.
RoliePolieOlie__ on
Rumors are that Eisner will be back as ceo
RedHeadedSicilian52 on
There’s this quote about Mao Zedong:
“Had Mao died in 1956, his achievements would have been immortal. Had he died in 1966, he would still have been a great man but flawed. But he died in 1976. Alas, what can one say?”
8 Comments
are they sure they want to pick parks dude again
He’s tired. I think he’s actually done this time.
Full article from WSJ:
“Disney Chief Executive Bob Iger has told associates that he plans to step down as CEO and pull back from daily management before the Dec. 31 end of his contract, according to people familiar with the matter.
The entertainment giant’s board of directors is planning to meet next week at its headquarters in Burbank, Calif., where they are expected to vote on who should take the top job, according to people familiar with the matter.
In private conversations over the last few months, Iger has told people close to him that he is ready to move on from the grind of being CEO and was frustrated by conflicts at Disney’s ABC network over the brief suspension of late night host Jimmy Kimmel, people who have spoken with him said.
The CEO has told multiple associates that he would like to spend more of his time and energy on other things, such as sailing his new and larger superyacht, the Aquarius—which was completed and delivered to him last summer. He has said he would also like to devote more time to work with his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, and on Angel City FC, the women’s soccer team they bought in 2024.
The final timing of his departure from the top job hasn’t yet been determined and could change. Iger is expected to remain CEO for several months after the company announces who will succeed him so that he can mentor the new leader, people with knowledge of his plans said. He could retain a role on the board and at the company after the CEO transition.
People close to the company believe the CEO race has come down to two candidates: Experiences chairman Josh D’Amaro, who oversees theme parks, consumer products and videogames, and Dana Walden, a veteran television executive who co-chairs Disney’s entertainment business, including streaming. Both executives presented their visions for the company’s future to the board in August, The Wall Street Journal previously reported. Many believe D’Amaro is the front runner.
He told one associate that he wanted to give his successor a “fresh start” and that lingering until the end of the year would hinder whomever the board picks to lead the company going forward.
For more than a year, intrigue has swirled over who will get the top job, whether it will be an insider or an outsider, and how the company plans to manage the transition.
In February of 2020, Iger stepped down as CEO for the first time after a 15-year stint, handing the reins to Bob Chapek, who headed the theme parks division and had become a top deputy to Iger. Iger stayed on for more than a year and half as executive chairman, to advise Chapek and smooth the transition.
As the Covid-19 pandemic unfolded, however, the two men clashed frequently and intensely, leading to a chaotic period for the 100-year-old entertainment giant that culminated in the board ousting Chapek in November 2022. The company brought back Iger for a second stint as CEO.
The board, chaired by former Morgan Stanley CEO James Gorman, has carefully orchestrated the selection process while also keeping it under tight wraps. That is a marked contrast from 2020, when Iger was board chairman and drove the decision to name Chapek as his successor.
In a recent public filing, Disney’s board said it would make its decision in the current quarter and that internal candidates are receiving mentoring from Iger and external coaches.”
https://www.wsj.com/business/media/iger-has-told-associates-he-plans-to-leave-ceo-role-before-contract-expires-35406a7b
Meaning he’ll be back before the end of 2028?
Pick Dana, please. The last parks guy to take sole control was a disaster. Even a dual CEO structure would be better than D’Amaro getting free reign.
I wonder if he’ll announce Zootopia 3 before he goes. I think he views Disney’s renewed inroads into China as an important part of his legacy. He went to China twice, both for Zootopia. Zootopia 3 is all but confirmed and I just think he’d prefer to be the one to say it’s happening.
Rumors are that Eisner will be back as ceo
There’s this quote about Mao Zedong:
“Had Mao died in 1956, his achievements would have been immortal. Had he died in 1966, he would still have been a great man but flawed. But he died in 1976. Alas, what can one say?”
Well, had Iger stayed retired after 2020…