Why Disney Might Announce Iger’s Successor This Year
On the last day of 2026, Bob Iger’s contract expires.
That thought gives Disney fans a lingering sense of deja vu, as it’s happened once before.
Photo: PRNewsFoto/The Walt Disney Co.
The current (and former) CEO of the Walt Disney Company infamously announced his retirement in 2020.
Then, he departed the company on New Year’s Eve 2021. His “retirement” lasted almost 11 months.
Later, the triumphant hero rode in on his white horse and saved the day by running his replacement, Bob Chapek, out of town.
Since then, Iger has successfully fought off two different activist investors and earned a contract extension, which takes him through New Year’s Eve 2026.
Photo: Getty Images
So, Disney could feasibly wait another two years to announce its decision regarding his replacement.
However, recent comments from a close Iger confidante suggest that Iger may name his successor this year.
Photo: Natacha Rafalski on Instagram
Is Disney almost ready to name its next CEO? Let’s discuss why it may happen sooner than expected.
What Just Happened
Photo: TheWrap.com
Candle Media co-founder Kevin Mayer recently spoke with Yahoo! Finance at the Cannes Lions Festival.
You may remember Mayer as the person who finished second in a two-person race to become Disney’s CEO last time.
He’s the one who lost to Chapek. Let’s just say that Bob Iger would really like a mulligan on that one.
Since then, Mayer has run TikTok and turned Candle into a multi-billion dollar company.
Photo: Walt Disney Company
Chapek is roughly as employable as all those people who lost in the final episode of Succession.
Mayer had become the obvious choice to replace Iger, yet Disney’s board of directors chose Chapek.
Image rights: CNBC and Illustration by Elham Ataeiazar
Importantly, this decision occurred around the same time as the first COVID outbreak in China.
While we’ll never truly know how much that impacted Disney’s selection, it mattered at least some.
Photo: Disney
Mayer’s reputation was more of a builder, while Chapek was more skilled as a budget-conscious penny pincher.
With Disney’s financial situation seeming perilous, the company favored the numbers guy.
Photo: CNBC
Despite this fact, Mayer’s relationship with Iger has remained strong.
Mayer has worked as a consultant for Disney during Iger’s return.
Mandatory Credit: Photo by JUSTIN LANE/EPA-EFE/Shutterstock
So, we must take him seriously since he works in close contact with Iger and is privy to the CEO’s thinking.
That’s why lots of people did a double-take when Mayer made some recent comments.
Photo: Variety
According to the Candle executive, Disney may name a successor soon. Here’s the exact quote:
“I think we may know this year, but (Bob Iger) has two and a half more years. So, it wouldn’t surprise me if it is extended a little bit beyond this calendar year into next calendar year.”
Photo: Variety
Honestly, there’s a lot of wiggle room in the interpretation of these comments.
Still, Yahoo! is reporting that Disney’s succession race may be winding down.
Why Disney Could Announce Soon
Photo: CNBC
Believe it or not, Iger had a plan when he promoted Chapek.
The thought process focused on Iger staying as Executive Chairman for 20 months.
Photo: LA Times
At the time, Iger suggested that he would primarily run Disney’s entertainment schedule.
The expectation was that Chapek would confer with Iger about decisions, leaning on the seasoned pro’s experience as needed.
Photo: Walt Disney Company
Instead, Chapek made the regrettable decision of closing ranks, thereby isolating Iger.
Circumstances quickly proved that Chapek was in over his head and could have used all the help he could get.
Photo: Patrick T. Fallon/Bloomberg
The deteriorating nature of their relationship made that impossible, though. Thus, Iger’s plan failed because of Chapek.
Still, Iger believes his logic was sound last time and plans to reuse it.
Image: Disney
Should Disney announce a successor during the next six months, the person would have two years to shadow Iger and learn what it’s like to run Disney.
Currently, Disney’s four internal candidates are cross-training to gain more expertise with Disney’s other core brands.
Photo: Variety (Rex/Shutterstock)
Everything runs through Iger, though. His successor must learn how to operate the Disney empire, which is akin to being a world leader. It’s an involved process.
As Chapek demonstrated, some people don’t have the skill set to handle all phases of the company.
Photo: orlandothemeparkzone.com
Iger is hoping to gain insights about who performs the best in their cross-training.
Based on Mayer’s comments, one candidate may have differentiated themselves enough that the competition has become a formality. If so, there’s no benefit for Disney to wait.
Photo: PRNewsFoto/The Walt Disney Co.
Instead, the company should go ahead and name a successor with the expectation that this individual will actually liaise with Iger as he had anticipated that Chapek would have.
Why Disney May Wait
(Photo by Kimberly White/Getty Images for Vanity Fair)
Since I’m familiar with Mayer, I recognize he’s actually saying little here and that much of this is overblown.
Still, let’s consider the other part of this conversation. Disney has just as much reason to wait.
Photo: Hulu
After all, 2026 is so far away from now that Iger will leave after the mid-terms of the next presidential election!
I know none of us wants to think about that, but it underscores the chasm of time from now until Iger officially retires from Disney.
Photo: Variety
Since not every executive develops at the same pace, Disney might be better served to wait a bit to see whether one of the candidates proves to be a late bloomer.
Then, we have the other factor that the leading candidate right now could prove as ineffectual as Chapek.
Bob Iger – 2024 Annual Shareholder Meeting
In that scenario, by waiting, Disney learns whether a prospect has proven overrated.
I often think of things in sports metaphors, so please allow me to use one.
Image: Disney
When a team drafts, they often evaluate based on floors versus ceilings.
Prospects with a higher floor are safer, but prospects with a higher ceiling can change a franchise.
Image: Disney
To wit, with Disney, the analogy I’d use is that Dana Walden is probably the safest of the four candidates. She has the highest floor.
However, I view Josh D’Amaro as having the highest upside.
Photo: Disney
Walden is a Bob Iger clone, which means she could be one of the greatest media CEOs ever.
At a minimum, Disney Entertainment will run smoothly throughout her tenure.
Photo: Variety
With Josh D’Amaro, Disney would be rolling the dice a bit, but he could prove to be a similarly skilled, more popular Bob Iger, one whose blood is Dole Whip-colored.
So, Iger’s choice becomes whether he should announce someone sooner, a tactic I believe would favor Walden, or whether he should wait.
Image Credit: D23
I believe the longer Disney waits, the better D’Amaro’s chances of succeeding Iger.
As for other candidates like Jimmy Pitaro and Alan Bergman, well, Iger chose Chapek once.
Photo: The Walt Disney Company-
Josh D’Amaro (Chairman; Disney Parks, Experiences and Products)
Nothing could shock me more than that.
Thanks for visiting MickeyBlog.com! Want to go to Disney? For a FREE quote on your next Disney vacation, please fill out the form below, and one of the agents from MickeyTravels, a Diamond Level Authorized Disney Vacation Planner, will be in touch soon!
