Why Dana Walden Is the Betting Favorite as Disney CEO

Over the past couple of weeks, multiple publications have written about the horse race unfolding behind the scenes at Disney.

At some point in 2025, the company will announce the successor to Bob Iger as Disney CEO.

While some like Bank of America analyst Jessica Reif Ehrlich believe there shouldn’t be any rush, the Nelson Peltzes of the world disagree.

Fear of another Bob Chapek debacle is driving the push to announce Iger’s successor sooner rather than later.

At this point, the consensus is that one of Disney’s current executives is the leader in the clubhouse.

Here’s why Dana Walden is the betting favorite as Disney CEO.

Why Walden Deserves the Job

A recent Vanity Fair article details the current race to succeed Bob Iger.

The Independent later grafted an article from the Vanity Fair piece, but the Vanity Fair reporting is superior.

During that conversation, the writer interviewed several current and former associates of Walden, including Ryan Murphy.

You know Murphy as the creator of Glee, 9-1-1, and American Horror Story.

However, Murphy knows Walden as first his boss and later the godmother of his three sons.

That statement in and of itself reflects the unique relationship Walden often builds with her clients.

A proudly transparent person, Walden tells Hollywood the truth, even when it hurts them to hear.

Believe it or not, that’s such a rarity in the industry that current and former clients revere her for such honesty.

In the article, Kelly Ripa notes that Walden was the one who suggested that Ripa’s husband, Mark Consuelos, become her co-host.

Similarly, Ellen Pompeo explicitly states that she would have left Disney if not for Walden.

The Co-Chairman of Disney Entertainment handles the television side of the business, giving her credit for recent blockbusters like Shogun and Abbott Elementary.

Over the years, Walden has built her credentials by greenlighting projects as diverse as 24, Modern Family, and This Is Us.

In Hollywood, your track record defines your performance, and hers is legitimately among the finest in the industry.

Not coincidentally, when Disney swallowed most of Fox’s assets, Walden was one of the few executives Iger kept.

Now, Walden is first in line to succeed Iger, although the reason often mentioned for why amused me. But we’ll get to that.

Before then, let’s discuss other potential contenders to become Disney CEO.

Why Josh D’Amaro Deserves the Job

At this point, the belief is that Walden has emerged as the favorite to replace Bob Iger.

However, if Walden is the top choice, D’Amaro is 1A in the rankings.

Any lead that Walden holds is perceived as a narrow one, with much of the race yet to be run.

Analysts feel that way because D’Amaro possesses another Iger trait: star power.

Even Iger’s critics note that when they interact with Disney’s CEO, they come away impressed. He’s an engaging individual.

That same statement applies to D’Amaro to the point that he might have more star power than Iger.

D’Amaro has boy band good looks and is aging more gracefully than anyone in *NSYNC or the Backstreet Boys.

More importantly, his work as Chairman of Disney Experiences has proven above reproach.

D’Amaro weathered a pandemic and someone led his division to come out stronger on the other side, a stunning feat.

Whenever Disney opens the books and shows its financials, the Experiences segment does much of the heavy lifting.

Disney’s operating income in this segment is outrageously good, and it’s also up significantly from before D’Amaro took the job.

Not coincidentally, Disney is voting with its wallet to support D’Amaro.

The company has announced $60 billion in capital expenditures over the next decade.

That’s $6 billion a year Disney will entrust to D’Amaro, an emphatic sign of confidence in his job skills.

For all Walden’s successes, her recent resume cannot compare to D’Amaro’s, and he’s wildly popular to boot.

Also, D’Amaro’s roots are with Disney, something Walden cannot claim, as she joined the company just five years ago.

How much do these things matter? I guess we’ll find out in 2025 when Disney names a successor.

Why Someone Else Might Become CEO

We shouldn’t ignore Disney’s other potential candidates, either.

The company lists two other people with the Chairman title, and each one possesses his own strengths.

One is Jimmy Pitaro, the Chairman of ESPN. In case you’ve missed all the MickeyBlog updates, live sports is having a moment.

Even as conventional cable broadcasts decline in popularity, ESPN’s ratings have soared.

Fair or not, Pitaro receives all the credit for Caitlin Clark’s historic NCAA tournament ratings.

Similarly, the NFL’s soaring ratings hint that Pitaro has the Midas touch, whether that’s accurate or not.

At this time, ESPN remains in a transitional phase as the former Linear Networks juggernaut slowly converts to digital.

However, all the ratings triumphs at ESPN make Pitaro look like a genius, which aids his candidacy.

Even critics note that Pitaro has more experience with other phases of business than the other major candidates, too.

Then, we have Alan Bergman, who tends to get overshadowed in these discussions.

Part of the reason stems from the timing. As Disney’s succession race has heated up, Disney Entertainment has struggled.

Specifically, Bergman’s side is the film division, and that’s where Disney has felt the pain. You remember 2023, right?

Well, the calendar has turned to 2024, and Disney’s early results appear positive.

Kingdom of the Planet of the Apes is currently the number four box office film of the year.

Deadpool & Wolverine has broken records for its ticket pre-sales, and Inside Out 2 is tracking well.

None of this assures anything, as $100 million tracking seems to mean $70-$75 million as often as not these days.

Still, in the wake of a Memorial Day box office disaster, Disney is tracking to have a strong recovery at a time when the industry is in shambles.

Why Dana Walden Is the Betting Favorite

Still, insiders favor Walden for a very good, albeit narcissistic reason.

Walden’s relationship with Iger played a vital part in his return to Disney.

Bergman and Walden are Iger’s neighbors, and they would meet with him to relay intel about Bob Chapek.

When the opportunity presented itself for Iger to return, Walden spoke with him on the subject.

Why are the two so close? The awkward reality is that Walden reminds Iger of himself.

In his memoir, The Ride of a Lifetime, Iger detailed his television background, spending a great deal of time discussing Roone Arledge.

When Disney’s CEO discusses the power of live sports, he’s also fondly recalling his early days in television.

As a career television executive, Walden shares a similar history to Iger.

That shared background may appeal to Iger’s ego in that Walden is like a modern Bob Iger.

Don’t get me wrong. I’m not in any way dismissing her candidacy, as I think she’d make a fine Disney CEO.

Instead, I’m merely pointing out what others have. Iger has a notoriously large ego.

Over time, he may have developed the belief that only someone like him can perform this job at a high level.

Chapek’s failures only reinforced that belief, as the former Parks Chairman simply wasn’t up to snuff as Disney CEO.

That philosophy hurts D’Amaro, the current Parks Chairman, while Walden’s relatable job history aids her with Iger.

This one odd coincidence may prove the x-factor that elevates Walden to CEO. At a minimum, it’s what has made her the betting favorite.

Yes, you’re hearing so much about Walden being the frontrunner because the media perceives Iger as something of a narcissist.

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