Bob Iger to Step Down as Disney CEO, Successor to Be Announced in Early 2026

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As a dedicated Disney enthusiast with years of immersive experiences under my belt, I can’t help but feel a sense of nostalgic excitement as I watch the unfolding saga of Bob Iger’s return and the search for his successor. Having witnessed the magic he has woven during his tenure, it’s hard not to wonder if lightning could strike twice with another visionary at the helm.

In the year 2000, Bob Iger took over as president of Disney, with Michael Eisner stepping down as CEO in 2005 becoming his successor. He served as CEO until his contract ended in 2020. Following this, he continued to serve as executive chairman until his official retirement on December 31, 2021. Despite leaving the company, Iger continued to offer advice to his successor.

Following a call from Disney’s board of directors, Robert Iger resumed his role as CEO on November 20, 2022. This move came shortly after the unexpected and swift termination of Bob Chapek, his successor. Later in July 2023, Disney extended Iger’s tenure to last until 2026.

Disney’s leadership is preparing to unveil their next CEO to take over from Bob Iger, which they plan to do in the early months of 2026. However, discussions and guesses regarding possible contenders have been ongoing for some time now.

In aid of finding suitable candidates, Disney has hired Heidrick & Struggles to help with recruitment. Currently, there are three potential top picks being looked at. One of these contenders is Andrew Wilson, the CEO of Electronic Arts, as reported by the Wall Street Journal. Variety has verified that Wilson is being considered, but it’s worth noting that the selection process is still in its initial stages. Neither Disney nor EA have chosen to provide comments on the matter.

Starting in October, James Gorman was appointed to lead the board’s committee responsible for finding a new CEO, with this role becoming effective on January 2, 2025. Mark Parker of Nike previously held this position. The aim of this committee is to identify and select a new CEO by early 2026, suggesting that Disney is looking beyond its current high-ranking executives like Dana Walden, Alan Bergman, Jimmy Pitaro, and Josh D’Amaro for the role.

Andrew Wilson, who hails from Australia, has been the CEO of Electronic Arts since 2013. Prior to that, he oversaw EA Sports and the company’s digital PC services. In 2018, Wilson applied for the top position at ESPN, which was eventually given to Jimmy Pitaro. Additionally, during Bob Chapek’s tenure as CEO, there were discussions about selling EA to Disney, but no such deal materialized.

On December 31, 2024, James Gorman, the current executive chairman of Morgan Stanley, has announced his intention to step down from this position. Recently, he played a crucial role in facilitating the transition of Morgan Stanley’s CEO and was selected by Disney in August to manage their search for a new CEO, following Mark Parker. Translated into simpler terms: James Gorman, who has been executive chairman at Morgan Stanley, plans to resign on December 31, 2024. He played an essential part in helping Morgan Stanley find its new CEO and was chosen by Disney in August to help them find their next CEO, replacing Mark Parker.

Last month, Gorman underlined the importance of choosing a new CEO as an urgent task for the board, aiming to guarantee a seamless handover long before Bob Iger’s contract ends in December 2026.

At Disney, the topic of CEO succession has sparked debate, intensifying after a lengthy shareholder dispute orchestrated by investor Nelson Peltz. Peltz voiced his concerns over Disney’s board mismanaging the process of choosing a new CEO, particularly when they selected Bob Chapek as Iger’s replacement in 2020. However, the board decided to oust Chapek in November 2022 and reappointed Iger instead. Later, Peltz failed in his attempt to secure seats on the board and is said to have divested all his Disney stocks earlier this year.

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2024-11-12 21:14