Disney CEO Bob Iger eyes early exit, sparks succession planning

Walt Disney Co. faces a key shift. Bob Iger, the longtime Disney CEO, told associates he plans to step down before his contract ends Dec. 31, 2026. The move pulls him back from daily duties sooner than expected, according to a Wall Street Journal report cited by Variety.

Investors have watched succession planning closely. Disney delayed Iger's retirement multiple times. The company reportedly brought him back in 2022 to replace Bob Chapek after pandemic woes hit hard, as reported by Reuters.

Board meeting looms on pick

The Disney board meets next week in Burbank, California. Directors there expect to vote on Iger's replacement, the original Wall Street Journal report said. Disney Chairman James Gorman noted in the 2026 proxy statement: “The appointment of the next CEO will be determined by the full Board, and we currently expect to announce the appointment of the Company’s next CEO in early 2026.”

Each internal candidate faces a tough prep process. That includes mentorship from Iger, outside coaching, and talks with all directors, per the proxy filing.

Josh D'Amaro, head of Disney Experiences, leads as a top contender, Variety says. He oversees parks, cruises, and consumer products. Dana Walden, co-chair of Disney Entertainment, also stands out. Her role covers global streaming.

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According to Reuters, others in the mix include Alan Bergman and Jimmy Pitaro of ESPN. Online betting odds favor D'Amaro heavily, analysts tracking the race said, as reported by Variety.

Iger voiced frustration over the CEO grind. He cited clashes at ABC tied to Jimmy Kimmel's brief suspension in September over on-air remarks, Reuters says. Iger wants more time for sailing his yacht, supporting wife Willow Bay at USC, and Angel City FC soccer, sources told the Journal.

The timing remains fluid. Iger likely stays on months post-announcement to guide the new leader. He may keep a board seat or other Disney role, the report added. Iger earned $45.8 million in 2025 compensation, according to Variety. That covered stock awards, options, bonuses, and perks like security and travel. He faces board reelection at the Wednesday, March 18, shareholder meeting.