The Walt Disney Company CEO Bob Iger is planning on stepping down as CEO and step back from day to day management of the company before his contract comes. This news comes as the Disney board prepares to vote on his successor next week, the Wall Street Journal is reporting.
According to WSJ, Iger has told multiple associates that he plans on spending more time and energy on other activities. This includes sailing is new superyacht, the Aquarius, which he received last summer. He would also like to work on the Angel City FC women’s soccer team that he bought with his wife Willow Bay in 2024.
An exact timeline for Iger’s departure remains unknown. It is expected that Iger will remain at Disney for several months as CEO after Disney announces his successor. This will be so he can mentor the new leader. It is possible that he would also remain on the board or with the company in an advisory role as well.
The general consensus with those who are close to the company and watching the process is that the CEO race has come down to two candidates, both of whom are already with Disney. The first is Josh D’Amaro, the chairman of Disney Experiences. In this role, he oversees the Disney Parks, Disney Cruise Line, Disney Consumer Products, and video games. This is a segment that is seeing a $60 billion investment as the company is turbocharging it. The other leading candidate is believed to be Dana Walden, the co-chairman of Disney Entertainment. In this role she oversees streaming and linear television.
The early departure of Iger comes down to wanting to give his successor a “fresh start” he told an associate. He believes that staying until the end of the year could hinder whoever the board picks to lead the company moving forward.
With the question of who will take over Disney after Iger being speculated on everywhere. The hype around when the announcement will be made continues to grow. Recent reports have indicated that it should be in February, with some even going as far as saying that the announcement will be made next week. With the board voting on a successor next week, it is possible that an announcement could be made very soon.
The intrigue over the question of succession at Disney is even more as this has been one issue that has been a challenge for Disney. Previously, it was thought that Iger would retire over a decade ago. This didn’t happen. In 2020, he passed the baton to Bob Chapek. This was short lived, however. Within two years, Disney brought Iger back up to clean the mess that Chapek made with the company.
The announcement of the new Disney CEO will mark a pivotal time for The Walt Disney Company. It presumably will be the true end of the Bob Iger era and the beginning of a new era.
What do you think of Bob Iger leaving his role before the end of the year? Who do you think should replace him? Share your thoughts and opinions in the comments below!
