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The Walt Disney Co. said Monday that it would announce Bob Iger’s successor in early 2026, as it looks to replace its CEO — again.
Iger, who has been with the media giant for four decades, served as its CEO from 2005 to 2020 and later served as its executive chairman before retiring in 2021. Iger came back just a year later to serve a two-year term as CEO, which has since been extended to late 2026.
The search for Iger’s replacement — who could be an internal or external pick — will be led by James Gorman, who Disney said Monday would succeed Mark Parker as the chair of its board of directors. Gorman, a former Morgan Stanley (MS-0.68%) CEO, is stepping down from that firm’s board at the end of 2024.
“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026,” Gorman said in a statement, according to a regulatory filing. “This timing reflects the progress the Succession Planning Committee and the Board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026.”
The front-runners to replace Iger as CEO include Disney Entertainment co-chairs Dana Walden and Alan Bergman; Disney Experiences chairman Josh D’Amaro, and ESPN (DIS+1.74%) chairman Jimmy Pitaro.
Walden has been seen as a lead candidate for Iger’s job as recently as last month, Variety reported, citing almost a dozen industry sources. Walden previously worked for 25 years at 21st Century Fox, before joining Disney in 2019 when it acquired her employer. She currently leads the media giant’s television business, which includes streaming, and would be the first woman to serve as CEO in the 100-year-old company’s history.
Iger’s succession had become a major sticking point in a proxy battle that is believed to be the most expensive in history. Disney and Iger ultimately prevailed against activist investor Nelson Peltz, who was looking to take two seats on the company’s board.
—Bruce Gil contributed to this article