Since Bob Iger returned as CEO of the Walt Disney Company, we all knew he’d be tasked with something extremely important: find and train his successor.
©Apple
It’s something he’s done once before, and that didn’t work out quite like Iger probably hoped. We’ve been keeping tabs on Disney’s search and done deep dives into multiple rumored candidates, but now, we have an update on just how this search is going.
During the Walt Disney Company Annual Shareholders Meeting on April 3rd, 2024, we got a look into just how the search for CEO Bob Iger’s successor is going.
©Disney
Iger spoke about the failure of his last succession, when Bob Chapek took over as CEO. Iger said, “One of the things that hasn’t been understood is what happened to the company during the pandemic. People weren’t going to the movies, people weren’t going to theme parks, live sports weren’t happening, new movies and tv shows weren’t being produced.”
He reassured shareholders that he and the Board of Directors have learned from the past, and hopefully with this succession, there wont’ be so many external factors affecting a successor’s ability to lead the company.
©Disney
On April 4th, Iger joined David Faber on CNBC’s Squawk on the Street, where he shared that succession is something that he and the Board have been focused on since he returned as CEO in 2022.
“Well, the board engaged in a succession process the moment I came back and a very – they’re taking it very, very seriously. I don’t think it has changed because of the activism battle at all. They established this as their number one priority from the moment I came back, they formed a committee right away, they’ve been meeting regularly, they’re gonna meet even more regularly going forward, because I’m not going to be here forever.”
©Disney
Iger shared that he couldn’t say how long exactly the transition process could take or what that would entail.
We had previously learned that the board was focusing its efforts on four division heads as part of its search for Bob Iger’s successor. Dana Walden, co-chair of Disney Entertainment; Jimmy Pitaro, former ESPN president; Disney Parks chair Josh D’Amaro; and Alan Bergman, Walden’s other co-chair at Disney Entertainment, have all been named as potential candidates for the next Disney CEO.
©Disney
Iger has been spending time with the internal candidates to give them an idea of how he does the job, along with giving them exposure to other areas of the business they may not be familiar with. We do know that the board committee formed in 2023 met six times last year and has been working with a search firm along with conducting interviews.
©Disney
In a recent interview, Disney Board Member Carolyn Everson shared that shared that as of now, the board’s “number one priority” is to oversee the succession process. She added that the board is “completely focused” on garnering a successful transition at the end of 2026 when Iger’s contract is up.
©Disney
The Succession Planning Committee of the board has been working on “buttoning up” the process and working with Iger to look at both internal and external candidates for his replacement.
We’ll continue to bring you news from the annual shareholders meeting, so stay tuned to DFB for more!
Ex-Disney CEO Bob Chapek Has Spoken Out for the First Time Since Leaving the Company
Join the DFB Newsletter to get all the breaking news right in your inbox! Click here to Subscribe!
WE KNOW DISNEY.
YOU CAN, TOO.
Oh boy, planning a Disney trip can be quite the adventure, and we totally get it! But fear not, dear friends, we compiled EVERYTHING you need (and the things to avoid!) to plan the ULTIMATE Disney vacation.
Whether you're a rookie or a seasoned pro, our insider tips and tricks will have you exploring the parks like never before. So come along with us, and get planning your most magical vacation ever!
Who do you think will be the next Walt Disney Company CEO? Tell us in the comments.
Our handy (and portable!) ebook guides make sure you get the best deals and can plan a vacation of a lifetime.
I am hopeful Disney can find a good replacement for Iger. I an skeptical that Iger has learned anything from the past, in spite of what he says, but I am giving this search committee the benefit of doubt until I have reason to conclude otherwise. No contract extensions for Iger!